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FED ERAL RE SER VE BANK
O F NEW YORK
Fiscal Agent o f the United States
f Circular No. 3 5 3 2 1
I January 25, 1950 J

REGULATIONS GOVERNING UNITED STATES SAVINGS BONDS
Sixth Amendment to Treasury Department Circular No. 530, Sixth Revision

To all Banks and Trust Companies, and Others Concerned,
in the Second Federal Reserve D istrict:

W e transmit herewith a copy o f the Sixth Amendment, dated January 4, 1950, to Treasury
Department Circular No. 530, Sixth Revision. Sections 315.9 (d) (4) and 315.23 (c) o f the
Treasury circular are changed by the amendment. The principal changes are, in substance,
as follow s:
Section 315.9 ( d ) ( 4 ) . The provisions concerning the computation o f the amount o f Series E
bonds issued during any one calendar year held by any one person at any one time for the purpose
o f determ ining whether the amount is in excess o f the authorized lim it o f $10,000 (m aturity value),
have been amended to exclude from the com putation certain Series E bonds purchased with the
proceeds o f matured bonds o f Series D-1940. This is in conform ity with the public statement o f
the Secretary o f the Treasury on December 21, 1949, that Series E bonds purchased with the proceeds
o f m aturing bonds o f Series D-1940 will be exempt from the annual limitation on holdings of
Series E bonds.
Scction 315.23 ( c ) . A person entitled to a Series G bond b y reason o f the death on or after
January 1, 1950, o f an owner or coowner or person whose death results in the termination o f a trust
or other fiduciary estate may have such bond redeemed at par before m aturity without being required
to give a notice o f intention to redeem within a specified period after such death, but in no such case
o f redemption will interest be paid beyond the second interest paym ent date follow ing the date o f
death. The previous requirement that notice o f intention to redeem at par be given within six months
after death is being continued with respect to those cases in which death took place before January
1, 1950.

Additional copies of this circular and o f the enclosure will be furnished upon request.




A

llan

S proul,

President.

REGULATIONS GOVERNING SAVINGS BONDS
1950
Sixth Am endm ent to
D epartm ent C ircular N o. 530
Sixth R evision , dated
F ebruary 13, 1945

T reasury D e p a r t m e n t ,
O f f ic e

of t h e

Secretary,

Washington, January U, 1950.

F iscal S ervice
Bureau o f the P u b lic Debt

T o Ow n e r s

of

U n it e d S t a t e s S a v in g s B o n d s

and

Oth er s Co n c e r n e d :

Pursuant to Section 22 (a) o f the Second Liberty Bond Act, as amended (55 Stat. 7, 31 U. S. C.
757c), Section 315.9 (d) (4) and Section 315.23 (c) of Department Circular No. 530, Sixth Revision,
dated February 13, 1945 (31 CFR 1945 Supp. 315), as amended, are further amended, effective
January 1, 1950, to read as follows:
Sec. 315.9 (d) (4 ). With respect to bonds o f Series E, those purchased with the proceeds
of matured bonds of Series A, Series C-1938, Series D-1939 and Series D-1940, where such
matured bonds are presented by an individual (natural person in his own right) owner or
coowner -for that purpose and the Series E bonds are registered in his name in any form of
registration authorized for that series.
Sec. 315.23 (c ). Series Gā€” Redemption at par before maturity.ā€” A bond o f Series G (but
not of Series F) will be redeemed at par before maturity, in w'hole or in part, in amounts
corresponding with authorized denominations, not less than six months from the issue date,
(1) upon the death on or after January 1, 1950, of an owner or coowner, if a natural person,
or (2) in the case of bonds held by a trustee or other fiduciary estate upon the termination of
the trust or other fiduciary estate by reason o f the death on or after January 1, 1950, of any
person, except that if the trust or fiduciary estate is terminated only in part, redemption at par
will be made to the extent o f not more than the pro rata portion of the trust or fiduciary estate
so terminated. Redemption at par will be made at the option o f the person entitled to the
bonds and such option may be shown by a signed request for payment or by express written
notice (in either case specifying that redemption at par is desired) ; payment will be made as of
the first day of the first month following by at least one full calendar month the date of receipt
of the bonds or the request by the Treasury Department, Division of Loans and Currency,
Merchandise Mart, Chicago 54, Illinois, or a Federal Reserve Bank. If desired and so stated
in the request for payment or notice of intention, payment may be postponed to the second
interest date following the date o f death; otherwise, payment will be made in regular course.
A death certificate or other competent proof o f death must accompany the bonds or the notice
and if separate notice is given the bonds must be surrendered to the same agency to which the
notice is given, not less than twenty days before the effective redemption date. In no case of
redemption at par before maturity will interest be paid beyond the second interest payment
date following the date of death. In cases in which the death of the owner, coowner, or person
whose death terminated a fiduciary estate, took place before January 1, 1950, redemption at
par will be governed by the regulations in force at the date of death.




JO H N W . S N Y D E R ,

Secretary of the Treasury.
U . S . G O V ER N M ENT P R IN T IN G O F F IC E

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