TREASURY DIRECT System

Under the TREASURY DIRECT System, you establish an Account Master Record when you submit your first tender form. You may review your Account Master Record at any Federal Reserve Bank or Branch, or request that a Statement of Account be mailed to you. It consists of name, address, phone number, TREASURY DIRECT Account number, tax information and payment instructions. It also provides detailed information and payment instructions. It also provides detailed information on all your Treasury securities maintained in the TREASURY DIRECT System. Whenever a change is made to the account information, you will receive a copy of the updated record.

Whenever you purchase a new treasury security, a Statement of Account is sent to you listing the description and price associated with each security, and the amount and date of the next interest payment. The Statement of Account simplifies your record keeping and offers flexibility since changes can be made quickly.

The TREASURY DIRECT System uses the Direct Deposit payment method whereby interest, discount and principal payments are electronically deposited into your account at the financial institution you designate. Direct Deposit reduces the risk of late payments due to lost or stolen checks, ensures that scheduled interest or principal payments will be made to the designated financial institution on the payment date and allows your funds to earn interest from the payment date if the bank account is interest-bearing. NOTE: If you are a first time buyer, your first payment will be made by check. Subsequent payments will be automatically sent to your designated financial institution.

Where Treasury Securities are Sold

You may purchase new issues of Treasury securities at one of the regional Federal Reserve Bank Branch offices and the Federal Reserve Bank of New York, 33 Liberty Street, New York, N.Y. 10045, or at its Branch, 160 Delaware Avenue, Buffalo, N.Y. 14202. The New York Reserve Bank does not charge a fee.

You also may purchase new securities through commercial banks and securities dealers, which usually charge a service fee. Previously issued securities must be purchased through commercial banks, securities dealers or from the owner, but not from the New York Reserve Bank.

The main attraction of Treasury Direct: no brokerage fees or other transaction charges.

Call the Federal Reserve branch near you for additional information:

Federal Reserve Bank and  Branch Phone Numbers

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