Fiscal Service December 17, 2010 – Federal Register Recent Federal Regulation Documents

Regulations Governing Book-Entry Treasury Bonds, Notes and Bills Held in Legacy Treasury Direct; Regulations Governing Securities Held in Treasury Direct
Document Number: 2010-31489
Type: Rule
Date: 2010-12-17
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
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.