Regulations Governing Treasury Securities, New Treasury Direct System
other · Fiscal Service · Rule · Published 2005-03-23 · Effective 2005-03-23 · 70 FR 14940
Document
Document number
05-5621
Federal Register citation
70 FR 14940
CFR reference
31 CFR 315
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Fiscal Service
Publication date
2005-03-23
Effective date
2005-03-23
Abstract
New Treasury Direct (also referred to as TreasuryDirect) is an account-based, book-entry, online system for purchasing, holding and conducting transactions in Treasury securities. This rule sets forth the terms and conditions for the conversion of definitive savings bonds of Series E, Series EE, and Series I to book-entry savings bonds in New Treasury Direct. Conversion offers the investor the convenience of a book-entry product, rather than having to provide safe storage for a paper product until final maturity or redemption. Conversion offers the government cost savings in the elimination of paper transactions such as reissues and the replacement of lost bonds. Conversion will further the underlying principle of New Treasury Direct, which is to enable investors to do business with Treasury online.