Regulations Governing Book-Entry Treasury Bonds, Notes and Bills Held in Legacy Treasury Direct; Regulations Governing Securities Held in Treasury Direct
other · Fiscal Service · Rule · Published 2010-12-17 · Effective 2010-12-17 · 75 FR 78900
Document
Document number
2010-31489
Federal Register citation
75 FR 78900
CFR reference
31 CFR 357
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Fiscal Service
Publication date
2010-12-17
Effective date
2010-12-17
Abstract
Treasury's retail electronic systems for holding Treasury marketable securities began with the goal of permitting investors to buy and hold marketable Treasury securities until maturity. As a cost- saving measure, Treasury is returning the Legacy Treasury Direct and TreasuryDirect systems to this initial vision by eliminating the SellDirect program that permits investors to sell their marketable securities on the open market through a Federal Reserve Bank. Investors will now need to transfer a marketable security to a broker or financial institution in order to effect a sale of the security prior to maturity.