Full text of Federal Reserve Bank of New York Circulars : 3482. Treasury Savings Notes, Series D

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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
r Circular N o. 3 4 8 2 "1
L A u gu st 11, 1949 J

TREASURY SAYINGS NOTES, SERIES D
Amendment to Treasury Department Circular No. 833

To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

Effective August 11, 1949, the Secretary o f the Treasury has amended the terms
o f Treasury Department Circular No. 833, dated August 17, 1948, with respect to
Treasury Savings Notes, Series D. The amendment provides, in effect, that on and
after August 11, 1949, such notes will be sold at par and accrued interest from the
first day o f the month in which purchased to and including the day on which full
payment is made in cash or other immediately available funds.
The amount o f accrued interest payable by the purchaser will be computed at the
rate at which interest accrues on the notes ($0.80 per month per $1,000 par amount)
fo r the actual number of days in the month in which the purchase is made. One d a y’s
accrued interest in a 31-day month is $0.02581 per $1,000, in a 30-day month $0.02667,
in a 29-day month $0.02759 and in a 28-day month $0.02857.
In connection with applications made to this bank fo r the purchase o f Treasury
Savings Notes, Series D, payments (if not made in cash or other immediately avail­
able funds) should include the required accrued interest up to and including the day
on which the funds will become available to us.
Copies o f the amendment to Treasury Department Circular No. 833 will be mailed
to you within a few days.




A

llan

S proul,

President.