Electronic Code of Federal Regulations
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e-CFR data is current as of September 17, 2020 |
Title 31 → Subtitle B → Chapter II → Subchapter A → Part 363 → Subpart D → §363.131 |
Title 31: Money and Finance: Treasury
PART 363—REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT
Subpart D—Zero-Percent Certificate of Indebtedness
§363.131 What is a TreasuryDirect® zero-percent certificate of indebtedness?
A TreasuryDirect® zero-percent certificate of indebtedness is a non-interest-bearing security that is issued daily, with a one-day maturity, which automatically rolls over at maturity until you request redemption. A zero-percent certificate of indebtedness has a minimum purchase amount of one cent. The only purpose of a zero-percent certificate of indebtedness is to accumulate funds for the purchase of another eligible security in the TreasuryDirect system. A zero-percent certificate of indebtedness within a minor's account is the property of the minor alone. The payroll zero-percent certificate of indebtedness is a restricted form of the zero-percent certificate of indebtedness that is held separately from the zero-percent certificate of indebtedness and used only for purchases made through the payroll savings plan.
[69 FR 50309, Aug. 16, 2004, as amended at 75 FR 70816, Nov. 19, 2010]