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Fed

eral

r eser ve

bank

of

Da l l a

s

F IS C A L A G E N T O F T H E U N IT E D S T A T E S
DALLAS. TEX A S

75222

May 2 7 , 1966

To A ll Banking Institutions and Others Concerned
in the Eleventh Federal Reserve D istrict:
There is quoted below a press statement issued bytheTreasury
Department on May 2 3 , regarding an increase in the interest rate on United
States Retirement Plan Bonds to be effective June 1 , 1966.
N W RETIREMENT PLAN B N INTEREST RATE
E
OD
The Secretary of the Treasury announced today that the
President has approved an increase in the interest rate on
United States Retirement Plan Bonds to i+.15 percent per annum,
compounded semiannually, effective June 1 , 1966. Previously,
these bonds earned interest at 3*75 percent.
The improved rate brings the interest on Retirement Plan
Bonds in line with the recently increased rate on Series E
and H Savings Bonds. However, unlike those bonds, the improveĀ­
ment does not apply to Retirement Plan Bonds already outstandĀ­
ing. It was explained that there is no statutory authority
to extend the new rate to bonds issued earlier.
Retirement Plan Bonds, which were fir s t placed on sale
in 1963 pursuant to the Self-Employed Individuals Tax
Retirement Act of 1962, are available for investment only by
bond purchase plans and qualified pension and profit-sharing
plans. They may be registered only in the names of s e lfemployed persons or employees in single ownership form, or
with a beneficiary. Purchases may be made at any Federal
Reserve Bank or Branch, or the Office of the Treasurer of
the United States, the only authorized issuing agents.
The related F irst Amendment to the governing Treasury Department
Circular, Public Debt Series No. I-6 3 , w ill be distributed as soon as it
is available.

FEDERAL RESERVE BANK O DALLAS
F
Fiscal Agent of the United States

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)


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