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        <title>Regulations Governing Treasury Securities, New Treasury Direct System</title>
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    <abstract>New Treasury Direct (also referred to as TreasuryDirect) is an account-based, book-entry, online system for purchasing, holding and conducting transactions in Treasury securities. This rule sets forth the terms and conditions for the conversion of definitive savings bonds of Series E, Series EE, and Series I to book-entry savings bonds in New Treasury Direct. Conversion offers the investor the convenience of a book-entry product, rather than having to provide safe storage for a paper product until final maturity or redemption. Conversion offers the government cost savings in the elimination of paper transactions such as reissues and the replacement of lost bonds. Conversion will further the underlying principle of New Treasury Direct, which is to enable investors to do business with Treasury online.</abstract>
    <identifier type="FR citation">70 FR 14940</identifier>
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        <topic>Banks and Banking</topic>
        <topic>Government Securities</topic>
        <topic>Federal Reserve System</topic>
        <topic>Bonds</topic>
        <topic>Securities</topic>
        <topic>Electronic Funds Transfer</topic>
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        <summary>New Treasury Direct (also referred to as TreasuryDirect) is an account-based, book-entry, online system for purchasing, holding and conducting transactions in Treasury securities. This rule sets forth the terms and conditions for the conversion of definitive savings bonds of Series E, Series EE, and Series I to book-entry savings bonds in New Treasury Direct. Conversion offers the investor the convenience of a book-entry product, rather than having to provide safe storage for a paper product until final maturity or redemption. Conversion offers the government cost savings in the elimination of paper transactions such as reissues and the replacement of lost bonds. Conversion will further the underlying principle of New Treasury Direct, which is to enable investors to do business with Treasury online.</summary>
        <dates>Effective: March 23, 2005.</dates>
        <contact>Elisha Whipkey, Director, Division of Program Administration, Office of Securities Operations, Bureau of the Public Debt, at (304) 480-6319 or elisha.whipkey@bpd.treas.gov.</contact>
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        <tocSubject1>Book entry Treasury savings bonds:</tocSubject1>
        <tocDoc>New Treasury Direct system; conversion terms and conditions, </tocDoc>
        <emailRef>dean.adams@bpd.treas.gov</emailRef>
        <emailRef>edward.gronseth@bpd.treas.gov</emailRef>
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