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Electronic Code of Federal Regulations

e-CFR data is current as of February 25, 2020

Title 31Subtitle BChapter IISubchapter APart 342 → §342.5


Title 31: Money and Finance: Treasury
PART 342—OFFERING OF UNITED STATES SAVINGS NOTES


§342.5   Limitations.

(a) Purchases—(1) Payroll savings plans. Under a payroll savings plan, withholdings for notes could not exceed the ratio of $1.08 for the notes to $1 for the Series E bonds and could not exceed $20.25 per weekly pay period, or $40.50 per biweekly or semi-monthly pay period, or $81 per monthly pay period.

(2) Others. In combination purchases of notes and Series E bonds, other than under a payroll savings plan, purchases of notes could not exceed $350 (face amount) a quarter, and in no event could the annual limitation of $1,350 (face amount) be exceeded.

(b) Holdings. The face amount of savings notes originally issued to any one person during any one calendar year, was limited to $1,350.

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