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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
r Circular No. 2 5 7 7 "1
L January 22, 1943 J

UNITED STATES SAVINGS BONDS
TRANSMITTED BY BANKING INSTITUTIONS FOR REDEMPTION
To all Incorporated, Baltics and Trust Companies
in the Second Federal Reserve District:

As the result of the great increase during the past year in the number and value of United
States Savings Bonds outstanding, the number of transactions involving redemptions of such
bonds has also risen. In this connection, you may be interested to know that the volume of such
redemptions in relation to the total value of all bonds outstanding has not increased appreciably, and that a recent study by the Treasury Department indicated that over 98 per cent of all
Series E, F and G bonds issued were still in the hands of the original owners.
Banking institutions generally have shown splendid cooperation in assisting their customers and others to redeem bonds, by forwarding such bonds to us, as fiscal agent of the United
States, for redemption for account of the owners. The extension of this service by banking
institutions will expedite payment of the bonds and, therefore, in order to facilitate the procedure, we have prepared standard forms of receipt and transmittal letter for the use of banking institutions in such cases. A supply of the new forms designated GB-414 and GB-415
is enclosed.
Form GrB-414 has been prepared in duplicate for use as follows:
The original is to be issued to the registered owner as a receipt for the bond or
bonds received by you, after the request f o r payment has been certified. (The
request for payment may be certified by any of the officers authorized in Treasury Department Circular No. 530, Fifth Revision, including any officer of any
duly qualified issuing agent of Series E bonds, such as a corporation issuing
bonds to employees enrolled in a payroll allotment plan.)
The duplicate is to be retained by you as your record of the transaction.

Payment of bonds presented for redemption will be made at current redemption value by check
drawn to the order of the registered owner or other person entitled and mailed to him at the
address given in his request for payment on the bach of the bond. Where it is indicated in such
request that the check is to be mailed to the registered owner in your care, the check may, where
you have been so instructed by the payee, be credited to the payee's account without his endorsement when endorsed by you as provided in our Circular No. 2504, dated September 17, 1942.
We understand that the Treasury Department has no objection to a banking institution
collecting from an owner of Savings Bonds an amount to defray the actual cost of postage and
registry fees for bonds forwarded by such institution to the Federal Reserve Bank for account
of such owner. Accordingly, provision is made on Form GB-414 for recording the collection of
such fees. The duplicate copy of the form also contains a space for indicating the date on which
the bond is sent by you to us.
Form GB-415 is for your use as a transmittal letter in forwarding bonds to us for redemption. The original copy should be executed and sent to us. The receipt at the bottom will be
executed and returned to you if you desire. The duplicate may be retained by you as your
record of the bonds transmitted.
We believe that you will find that the use of these forms will facilitate redemptions of
Savings Bonds handled by you for account of your customers and others. Additional supplies
of the forms will be furnished promptly upon request.




ALLAN SPROTJL,

President.

Form GB 414

REGISTERED OWNER'S RECEIPT

N 9

(Not Transferable)

31132

Date.

Issued to
i

Receipt is acknowledged of $
(maturity value) UNITED STATES SAVINGS BONDS
in the number of pieces and denominations indicated below,
DENOMINATIONS

25

100

50

500

1,000

5,000

10,000

N U M B E R OF PIECES

deposited with the undersigned together with
cents to defray cost of postage and registration in
forwarding such bonds to the Federal Reserve Bank of New York, fiscal agent of the United States, for payment
at current redemption value for your account.
Check in payment will be mailed directly to you by the Federal Reserve Bank of New York.




Name of Bank

Address

By

Form GB-414
DUPLICATE

N?

FORWARDING BANK'S RECORD

31132

Date

Received from

$
(maturity value) UNITED STATES SAVINGS BONDS
in the number of pieces and denominations indicated below,
DENOMINATIONS

25

100

50

500

1,000

5,000

10,000

N U M B E R OF PIECES

deposited with us by the above together with
cents to defray cost of postage and registration in
forwarding such bonds to the Federal Reserve Bank of New York, fiscal agent of the United States, for payment
st current redemption value.
Payment will be made directly to the above by the Federal Reserve Bank of New York by check mailed
to the registered owner at the address given in the request for payment on the back of the bond.
Bonds forwarded to the Federal Reserve Bank of New York on




Name of Bank

Address

Bv

Form GB-415

TRANSMITTAL LETTER

N?

21407
Date

TO:

FEDERAL RESERVE BANK OF NEW YORK,

Fiscal Agent of the United States,
Savings Bond Redemption Department.

We enclose for redemption for account of the owners thereof United States Savings Bonds in the aggregate
amount of $
(maturity value) as follows:
*Form GB-414
Number

Total Maturity
Value

*Bond
Numbers

Name of Owner

* First and fourth columns are provided for the convenience
of the forwarding
bank in maintaining
records.
Such information
is not required by the
Federal Reserve
Bank.

Name of Bank
Address

By
If receipt

is desired,

fill in name and address

below;

otherwise

receipt

will not be

acknowledged.

Receipt is acknowledged of United States Savings Bonds in the aggregate amount
VTO
L\
To

01/107
& _L ** U i

^

game number

(maturity value) described in the transmittal letter bearing
as this receipt.
FEDERAL RESERVE BANK OP NEW YORK

Name of Forwarding Bank




Address

Fiscal Agent of the United States
By
Date

Form GB-415
DUPLICATE

FILE COPY

N? 21407
TO:

Date.

FEDERAL RESERVE BANK OP NEW YORK,

Fiscal Agent of the United States,
Savings Bond Redemption Department.

We enclose for redemption for account of the owners thereof United States Savings Bonds in the aggregate
amount of $
(maturity value) as follows:
•Form GB-414
Number

Total Maturity
Value

* First and fourth columns are provided for the convenience
of the forwarding
bank in maintaining
records.
Such information is not required by the
Federal Reserve
Banh.




•Bond
Numbers

Name of Owner

Name of Bank
Address

By

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