§363.40. How are payments of principal and interest made?
31 C.F.R. § 363.40
Payment of a savings bond that has reached final maturity. We will purchase a zero-percent certificate of indebtedness in your TreasuryDirect ® account using the proceeds of a matured savings bond.
Payments of interest and principal (except a savings bond that has reached final maturity).
We provide two methods of receiving payments of principal and interest—
Payment to your account at a financial institution by the ACH method, or
Payment to your TreasuryDirect account to purchase a zero-percent certificate of indebtedness.
You may select different payment destinations for principal and interest for a marketable Treasury security. You may change your payment destination at any time, unless the security is in the closed book period. (See § 363.210.)
If we are unable to deliver a payment, we will use the payment to purchase a zero-percent certificate of indebtedness in your TreasuryDirect account.
Notes, amendments, and revision history
Amendments
[70 FR 57443, Sept. 30, 2005]
Authority
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3102, et seq.; 31 U.S.C. 3121, et seq.
Source
Source: 67 FR 64286, Oct. 17, 2002, unless otherwise noted.
Amendments
[70 FR 57443, Sept. 30, 2005]