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Fe d er a l R e s e r v e
B a n k o f N e w Yo r k
N E W YORK, N.Y. 1004-5
AREA CODE
212
7 2 0 -5 S I0
W h i t n e y R. I r w i n
Vice P
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September 7, 1993
To the Chief Executive Officer
of the Depository Institution Addressed:
We would like to remind you that the Treasury's "CUBES"
program, for the conversion to book-entry form of physical
coupons detached from U.S. Treasury bonds, will remain open until
November 30. 1993,
Enclosed is a copy of the notice we sent you
in April regarding the program.
If you should wish to participate in the program
please contact Ms. Jessie Miley of our Government Bond Department
(Tel. No. 212-720-6972) to obtain an information package.
Very truly yours
Enclosure
FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
April 13, 1993
R eopening o f Treasury CUBES Program
For Conversion o f Stripped Coupons to Book-Entry Form
June 1
-
November 30, 1993
To A ll Depository Institutions
in the Second Federal Reserve District:
The Department of the Treasury has announced the reopening of its Coupons Under
Book-Entry Safekeeping ("CUBES”) program, from June 1 - November 30, 1993 at the Federal
Reserve Bank of New York, to permit the conversion to book-entry form of certain physical
coupons detached from U.S. Treasury bonds. All non-callable coupons with payment dates after
January 1, 1994 are eligible for conversion.
Institutions wishing to participate in the CUBES program should contact Mses. Jessie
Miley or Linda Ellis of our Government Bond Department (Tel. No. 212-720-6972/3) as soon as
possible to obtain an information package. Depository institutions that notify this Bank of their
intention to participate will be able to convert the stripped coupons between June 1 and
November 30 in accordance with a conversion schedule that will be published monthly, beginning
in May. Coupons may be mailed to this Bank or delivered to our windows every Monday,
Wednesday, and Friday between 9 a.m. and 1 p.m. Adherence to presentation procedures is
essential. No trading of CUBES balances will be permitted for 12 business days following their
deposit into the designated book-entry accounts; this will allow for the verification and approval
of the submission by the Treasury.
Entities or individuals other than depository institutions that hold stripped Treasury
coupons and wish to convert them to book-entry form under the CUBES program must arrange
for such conversion through a depository institution. Participating institutions will be charged a
fee of $4 per coupon and will bear the full cost and risk associated with the delivery of the
coupons to this Bank.
Questions regarding the CUBES program may be directed to JoAnne Valkovic,
Manager, Government Bond Department (Tel. No. 212-720-1498) or Grace Jaiman of that
Department (Tel. No. 212-720-8183).
W
h it n e y
R . I r w in ,
Vice President.
@FedFRASER