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F E D E R A L R E SE R V E BANK
OF NEW YORK
Fiscal Agent of the United States
r Circular No. 3 3 2 0 1
L
March 18, 1948
j

UNITED STATES SAVINGS BONDS— SERIES E
Limitation Raised from $5,000 to $10,000, Maturity Value

To all Issuing Agents in the Second Federal Reserve District
Qualified for Sale o f United States Savings Bonds of Series E :

The following press statement has been issued by the Treasury Department for publication
today:
Secretary Snyder today announced that the limitation on Series E savings bonds is being raised
from $5,000, maturity value, to $10,000, maturity value, effective for the calendar year 1948. The
limitation relates to the amount of Series E bonds originally issued during any one calendar year to
any one person. There is no change in the manner in which holdings will be computed, and the new
provision simply doubles the amount that any individual may hold.
The Secretary reached the decision to raise the limitation in advance of the start of the security
loan drive which will open on April 15. Full details regarding the increase in limitation are contained
in amendments to the Series E offering circular and the regulations governing savings bonds, which
are being released today.

Accordingly, Treasury Department Circular No. 653, Second Revision, as supplemented,
has been amended in section IV, paragraph 1, to read as follows:
1.
The amount of bonds of Series E originally issued during any one calendar year to any one
person that may be held by that person at any one time shall not exceed $5,000 (maturity value) for
each calendar year up to and including the calendar year 1947, and $10,000 (maturity value) for each
calendar year thereafter, computed in accordance with the provisions of the regulations governing
United States Savings Bonds. If any person at any time acquires savings bonds issued during any one
calendar year in excess of the prescribed amount, the amount of such excess should immediately be
surrendered for refund of the issue price.

and Treasury Department Circular No. 530, Sixth Revision, as amended, has been further
amended in section 315.8

{b )

to read as follows:

(&) Series E.— $5,000 (maturity value) for each calendar year up to and including the calendar
year 1947, and $10,000 (maturity value) for each calendar year thereafter.

The new limitation becomes effective immediately.
Additional copies of this circular will be furnished upon request.




A l l a n S proul ,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102