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FEDERAL RESERVE BANK OF DALLAS
F I S 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, Texas, January 26,1950
REGULATIONS GOVERNING UNITED STATES SAVINGS BONDS
To All Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:
There is enclosed a copy of the Sixth Amendment to Treasury Department Circular No. 530,
Sixth Revision. This amendment makes the following changes in the savings bond regulations:
Section 315.9. Subsection (d) (4) has been amended to provide that in computing the amount
of Series E Savings Bonds issued during any one calendar year that may be held by any one person
at any one time, there need not be taken into account any Series E bonds purchased with the pro
ceeds of maturing bonds of Series D-1940, where such Series D bonds were presented by an indi
vidual (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.
Section 315.23. Subsection (c) concerns the optional redemption of bonds of Series G at par
before maturity, (1) upon the death 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 fidu
ciary estate by reason of the death of any person. The change in this subsection eliminates the
requirement that the notice of intention to redeem the bonds at par must be given to the Treasury
Department, Division of Loans and Currency, Merchandise Mart, Chicago 54, Illinois, or a Federal
Reserve Bank within six months after the date of death of the owner or coowner, or person whose
death results in the termination of the trust or other fiduciary estate where the death of such per
son occurred on or after January 1, 1950. 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, and the notice of intention
to redeem the bonds at par must be given within six months from the date of the death of such
person. A careful reading of this entire Subsection is urged in order that persons entitled to optional
redemption at par before maturity of Savings Bonds of Series G may understand the options thor
oughly.
Additional copies of the amendment will be furnished upon request.
FEDERAL RESERVE BANK OF DALLAS
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)
REGULATIONS GOVERNING SAVINGS BONDS
T reasury D epartment ,
Office of the Secretary,
1950
Sixth Amendment to
Department Circular No. 530
Sixth Revision, dated
February 13, 1945
Washington, January U 1950.
,
Fiscal Service
Bureau of the Public Debt
To Owners
of
U nited States Savings B onds and Others Concerned :
Pursuant to Section 22 (a) of 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 of 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 G— Redemption at par before maturity.— A bond of Series G (but
not of Series F) will be redeemed at par before maturity, in whole 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 of 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 of not more than the pro rata portion of the trust or fiduciary estate
so terminated. Redemption at par will be made at the option of 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 of death; otherwise, payment will be made in regular course.
A death certificate or other competent proof of 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.
JOHN W. SNYDER,
Secretary of the Treasury.
U. S. GOVERNMENT PRINTING OFFICE
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@FedFRASER