31 C.F.R. Subpart F—Marketable Treasury Securities
Title 31 - Money and Finance: Treasury
Source: 70 FR 57444, Sept. 30, 2005, unless otherwise noted.
This subpart provides the rules for holding marketable Treasury bills, notes, and bonds in book-entry form in TreasuryDirect®. (a) 31 CFR part 356 governs the sale and issue of marketable book-entry Treasury securities on or after March 1, 1993, whether held in TreasuryDirect®, Legacy Treasury Direct, or the commercial book-entry system. (b) 31 CFR part 357 governs holding marketable book-entry Treasury bills, notes, and bonds in the Legacy Treasury Direct system and in the commercial book-entry system. (a) Purchase. You may purchase any marketable Treasury security that is available for purchase through the TreasuryDirect Web site. (b) Hold. You may transfer into the system and maintain in your TreasuryDirect account any eligible marketable book-entry Treasury bill, note, or bond. Once you purchase a marketable Treasury security in TreasuryDirect, you may not transfer that security for a period of 45 calendar days after the issue date of the security, or the term of the security, whichever is less. You may register your marketable Treasury securities in any form of registration permitted by §363.20 of this part. You can reinvest the proceeds of a maturing security held in TreasuryDirect by first directing that the proceeds from the maturing security be used to purchase a certificate of indebtedness in your account, and then using the redemption proceeds of your certificate of indebtedness to purchase another security. Any purchase using the proceeds from a certificate of indebtedness is considered a reinvestment. (a) Legacy Treasury Direct to TreasuryDirect. 31 CFR part 357, subpart C, governs the transfer of a marketable book-entry Treasury security from your Legacy Treasury Direct account into TreasuryDirect. (b) Commercial book-entry system to TreasuryDirect. You may transfer your marketable Treasury security from the commercial book-entry system by contacting the financial institution or broker that handles your commercial book-entry account. (c) Form of registration upon transfer to TreasuryDirect. When your security is transferred into your TreasuryDirect account, it will be transferred into your account in your name in the sole owner form of registration, regardless of the form of registration prior to the transfer. After the transfer is completed, you can change the registration to any form of registration permitted by §363.20. (d) Amounts transferred. You can only transfer in increments of $1000. After the initial 45-calendar day holding period for your marketable Treasury security (see §363.203) you can transfer your security to another TreasuryDirect account in increments of $1000. After the initial 45-calendar day holding period for your marketable Treasury security (see §363.203) you can transfer your security to an account in Legacy Treasury Direct or to an account in the commercial book-entry system in increments of $1000. (a) Sell Direct. We offer a service, referred to as Sell Direct, in which we will sell your marketable Treasury security for you on the open market at your request. We will transfer your security to an account in the commercial book-entry system maintained by our agent, and will sell the security on your behalf. By authorizing the transfer and sale of the security, you agree to accept the price received by our agent. If our agent is unable to obtain at least one price quote for the security, the security will be returned to your TreasuryDirect® account. (b) Fee. We charge a fee for each security sold on your behalf. By authorizing the sale of the security, you authorize our agent to deduct the fee from the proceeds of the sale. If our agent is unable to complete the sale, no fee will be charged. The amount of the fee is published in the (c) Definitions. The following definitions will help you understand this section and the confirmation that you will receive after the sale is completed. (1) The trade date is the date that your security is sold. (2) A security, for the purpose of this section, is any amount represented by a separate CUSIP number (see definition of CUSIP in 31 CFR part 356). (3) The settlement date is the date that the proceeds of the sale are released to the financial institution that you designated to receive the proceeds. (4) The yield to maturity, or yield, is the annualized rate of return to maturity on a fixed principal security expressed as a percentage. For an inflation-indexed security, yield means real yield, as defined in 31 CFR part 356. (d) On the settlement date, our agent will release the settlement proceeds, less the fee, to the account at the financial institution that you designated. (e) When the transaction is complete, our agent will send you a confirmation. The confirmation will include the price, trade date, settlement date, settlement amount or net amount, transaction fee, and yield to maturity. (f) We are not liable for changes in market conditions affecting the price received for the security, or for any loss that you may incur as a result of the sale or the inability of our agent to complete the sale. (g) We reserve the right to terminate the Sell Direct® service at any time. A closed book period will be in effect for four business days prior to the date a marketable security interest or redemption payment is made. This means that certain transactions made during the closed book period will be delayed until after the closed book period is completed and the payment is made. You will be unable to transfer the security, change the payment destination, change the registration of the security, or use Treasury's Sell Direct® service during this closed book period.
Title 31: Money and Finance: Treasury
PART 363—REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT
Subpart F—Marketable Treasury Securities
§ 363.200 What Treasury securities does this subpart govern?
§ 363.201 What other regulations govern book-entry marketable book-entry Treasury bills, notes, and bonds?
§ 363.202 What marketable Treasury securities may I purchase and hold through my TreasuryDirect
§ 363.203 After I purchase my marketable Treasury security in TreasuryDirect
§ 363.204 What registrations are available for my marketable Treasury securities held in TreasuryDirect
§ 363.205 How do I reinvest the proceeds of a maturing security held in TreasuryDirect
§ 363.206 How can I transfer my marketable Treasury security into my TreasuryDirect
§ 363.207 Can I transfer my marketable Treasury security from my TreasuryDirect
§ 363.208 Can I transfer my marketable Treasury security from my TreasuryDirect
§ 363.209 How can I direct that my marketable Treasury security be sold on the open market (Sell Direct
§ 363.210 Is there any period of time during which I will be unable to process certain transactions regarding my security?
§§ 363.211-363.249 [Reserved]
