# Regulations Governing CUBES (Coupons Under Book-Entry Safekeeping)
> **Fiscal Service** · Final rule. · Published 1998-03-06 · Effective 1998-03-06 · 63 FR 11354
## Document
- **Document number:** 98-5928
- **Category:** other
- **Sub-agency:** Fiscal Service
- **Federal Register citation:** 63 FR 11354
- **CFR reference:** 31 CFR 358
- **Publication date:** 1998-03-06
- **Effective date:** 1998-03-06
## Abstract

The Department of the Treasury (Department or Treasury) is issuing in final form an amendment to its regulations governing the CUBES (Coupons Under Book-Entry Safekeeping) program. The amendment provides a method to convert United States Treasury bearer securities that have been stripped of all non-callable coupons (stripped bearer corpora) to book-entry accounts. Stripped bearer corpora will be held in BECCS (Bearer Corpora Conversion System). Stripped coupons will continue to be held in CUBES. The amendment benefits investors in two ways: First, conversion of bearer securities to book-entry form provides a safe alternative to storage and accounting burdens associated with physical storage, and second, conversion eliminates the risk of loss or destruction of physical securities.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1998/03/06/98-5928/regulations-governing-cubes-coupons-under-book-entry-safekeeping)
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