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e-CFR data is current as of September 18, 2020

Title 31Subtitle BChapter IISubchapter APart 363 → Subpart F


Title 31: Money and Finance: Treasury
PART 363—REGULATIONS GOVERNING SECURITIES HELD IN TREASURYDIRECT


Subpart F—Marketable Treasury Securities


Contents
§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® account?
§363.203   After I purchase my marketable Treasury security in TreasuryDirect®, is there a period of time during which I may not transfer the security?
§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® account from another book-entry system?
§363.207   Can I transfer my marketable Treasury security from my TreasuryDirect® account to another TreasuryDirect account?
§363.208   Can I transfer my marketable Treasury security from my TreasuryDirect® account to an account in another book-entry system?
§363.209   [Reserved]
§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]

Source: 70 FR 57444, Sept. 30, 2005, unless otherwise noted.

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§363.200   What Treasury securities does this subpart govern?

This subpart provides the rules for holding marketable Treasury bills, notes, and bonds in book-entry form in TreasuryDirect®.

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§363.201   What other regulations govern book-entry marketable book-entry Treasury bills, notes, and bonds?

(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.

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§363.202   What marketable Treasury securities may I purchase and hold through my TreasuryDirect® account?

(a) Purchase. (1) Advance purchase. You may purchase any marketable Treasury security that is available for purchase through the TreasuryDirect® website. One day each week, marketable securities that are scheduled for auction within 8 weeks will be made available on the TreasuryDirect website for scheduling an advance purchase, and are the only marketable securities that you can schedule for advance purchase.

(2) Purchases scheduled prior to May 15, 2010, with an effective issue date on or after May 15, 2010. (i) Any marketable security purchase scheduled prior to May 15, 2010, and with an effective issue date of May 15, 2010, through July 9, 2010, will be treated as a new purchase, even if the transaction would have been treated as a reinvestment under the rules in effect prior to May 15, 2010.

(ii) Any marketable security purchase scheduled prior to May 15, 2010, with an effective issue date after July 9, 2010, will be canceled.

(b) Hold. You may transfer into the system and maintain in your TreasuryDirect account any eligible marketable book-entry Treasury bill, note, or bond.

[70 FR 57444, Sept. 30, 2005, as amended at 75 FR 26090, May 11, 2010]

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§363.203   After I purchase my marketable Treasury security in TreasuryDirect®, is there a period of time during which I may not transfer the security?

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.

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§363.204   What registrations are available for my marketable Treasury securities held in TreasuryDirect®?

You may register your marketable Treasury securities in any form of registration permitted by §363.20 of this part.

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§363.205   How do I reinvest the proceeds of a maturing security held in TreasuryDirect®?

(a) Method for reinvesting a maturing security. The only method of reinvesting a maturing marketable security in TreasuryDirect® is through the automatic reinvestment option available in your TreasuryDirect account. Purchasing a security by directing that the proceeds of a maturing security be used to purchase a zero-percent certificate of indebtedness, and then scheduling the purchase of a new security using the redemption proceeds of the zero-percent certificate of indebtedness, is not a reinvestment.

(b) When a reinvestment can be scheduled, edited, or canceled. You can schedule your reinvestment either at the time of purchase or after the security is issued into your TreasuryDirect account. You cannot schedule, edit, or cancel a reinvestment when the maturing security goes into a closed book period, or when a noncompetitive bid for the replacement security is no longer accepted, whichever comes first.

(c) What securities can be reinvested. Any marketable security can be reinvested.

(d) Limits on scheduling reinvestments. Reinvestments will be limited at any one time to 25 times for a 4-week bill, 7 times for a 13-week bill, 3 times for a 26-week bill, and once for all other marketable security types.

(e) Canceling reinvestments. If there is no security available for reinvestment with an issue date that coincides with the maturity date or call date, if invoked, of the maturing security, and with the same type and term, the scheduled reinvestment will be canceled and the proceeds of the maturing security will be returned to the customer.

(f) Procedure if there are insufficient funds from the maturing security to pay the full purchase price of the replacement security. If there are insufficient funds from the maturing security to pay the full purchase price of the replacement security, we will either debit your primary account at a financial institution or pay the additional funds using the redemption proceeds of your zero-percent certificate of indebtedness.

(1) Debit from primary account at financial institution. If the maturing security is purchased on or after May 15, 2010, we will pay the additional funds by a debit from your primary account at a financial institution if the maturing security was purchased within TreasuryDirect by a debit from a financial institution account or if the maturing security was received through a transfer. If we are unable to obtain sufficient funds from your primary account at a financial institution, the reinvestment will be canceled and we will refund the proceeds of the maturing security.

(2) Withdrawal of funds from zero-percent certificate of indebtedness. If the maturing security is purchased on or after May 15, 2010, we will pay the additional funds using the redemption proceeds of your zero-percent certificate of indebtedness if the purchase of the maturing security was made using the zero-percent certificate of indebtedness. If the amount available from a redemption of the zero-percent certificate of indebtedness is insufficient to pay the additional amount, the reinvestment will be canceled and we will refund the proceeds of the maturing security.

(3) Special rules if the maturing security was purchased prior to May 15, 2010. If the maturing security was purchased within TreasuryDirect or received through a transfer prior to May 15, 2010, we will debit your primary account at a financial institution for the additional funds. If we are unable to obtain sufficient funds from your primary account at a financial institution, the reinvestment will be canceled and we will refund the proceeds of the maturing security.

[75 FR 26090, May 11, 2010]

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§363.206   How can I transfer my marketable Treasury security into my TreasuryDirect® account from another book-entry system?

(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)(1) Individuals. When a security is transferred into the TreasuryDirect account of an individual, it will be transferred in the name of the individual account owner in the single 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 these regulations.

(2) Entities. When a security is transferred into the TreasuryDirect account of an entity, the security will be transferred in the name of the entity, regardless of the form of registration prior to the transfer.

(d) Amounts transferred. You can only transfer in increments of $1000.

[70 FR 57444, Sept. 30, 2005, as amended at 74 FR 19421, Apr. 29, 2009]

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§363.207   Can I transfer my marketable Treasury security from my TreasuryDirect® account to another TreasuryDirect account?

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.

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§363.208   Can I transfer my marketable Treasury security from my TreasuryDirect® account to an account in another book-entry system?

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 the commercial book-entry system in increments of $1000.

[70 FR 57444, Sept. 30, 2005, as amended at 76 FR 18064, Apr. 1, 2011]

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§363.209   [Reserved]

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§363.210   Is there any period of time during which I will be unable to process certain transactions regarding my security?

A closed book period will be in effect for four business days prior to the date a marketable security interest and/or redemption payment is made. During the closed book period, you cannot change the registration of the security, change the payment destination of the proceeds, change the view or transaction rights, make transfers, or schedule, edit, or cancel a reinvestment. We will hold transactions requiring submission of a form for processing until the closed book period ends.

[75 FR 26091, May 11, 2010, as amended at 75 FR 78901, Dec. 17, 2010]

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§§363.211-363.249   [Reserved]

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