[Federal Register: February 14, 2003 (Volume 68, Number 31)]
[Rules and Regulations]
[Page 7427]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr14fe03-11]
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DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Part 321, 351, 352, 353, 359, and 360
United States Savings Bonds; Extension of Holding Period;
Correction
AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.
ACTION: Final rule; correction.
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SUMMARY: We published a final rule in the Federal Register of January
17, 2003, increasing the period of time that owners of United States
Series EE and I Savings Bonds must hold their bonds before the bonds
are eligible for redemption. The mandatory holding period increased
from 6 months to 12 months for bonds purchased on or after February 1,
2003. Although the rule correctly references the February 1, 2003 date
for bonds affected by the increased holding period, the rule stated
that bonds issued December 1, 2002, or earlier, are unaffected by the
change and continue to retain the 6 months holding period. The rule
should have stated that bonds issued January 1, 2003, or earlier, will
continue to retain the 6 months holding period. This document corrects
that misstatement.
EFFECTIVE DATE: Effective on February 1, 2003.
ADDRESSES: You can download this correction at the following Internet
address: http://www.publicdebt.treas.gov.
FOR FURTHER INFORMATION CONTACT:
Susan Klimas, Attorney-Adviser, Office of the Chief Counsel, Bureau of
the Public Debt, at (304) 480-8692 or (susan.klimas@bpd.treas.gov).
Dean Adams, Assistant Chief Counsel, Office of the Chief Counsel,
Bureau of the Public Debt, at (304) 480-8692 or
dean.adams@bpd.treas.gov).
SUPPLEMENTARY INFORMATION: We published in the January 17, 2003 Federal
Register a final rule that increased the period of time that owners of
United States Series EE and I Savings Bonds must hold their bonds
before the bonds are eligible for redemption. This mandatory holding
period increased from 6 months to 12 months for bonds purchased on or
after February 1, 2003. Although the rule correctly references the
February 1, 2003 date for bonds affected by the increased holding
period, the rule stated that bonds issued December 1, 2002, or earlier,
are unaffected by the change. (The issue date of a Series EE or I bond
is the first day of the month in which a qualified issuing agent or
organization receives or accumulates the full purchase price of the
bond.) The rule should have stated that bonds issued January 1, 2003,
or earlier, continue to retain the 6 months holding period. The
misstatement could cause confusion for bond owners who purchased bonds
during December 2002. This document corrects that misstatement.
In the FR Document 03-1114 published on January 17, 2003, (Vol. 68,
No. 12, page 2666-2667, make the following corrections: change
``December 1, 2002'' to ``January 1, 2003,'' where it appears in
Sec. Sec. 321.8(a)(1), 321.9(a)(1), Appendix to Part 321, section
(8)(a), Sec. Sec. 351.2(d), 352.7(a), 353.35(b), 359.6(a), and
360.35(b).
Dated: February 12, 2003.
Van Zeck,
Commissioner, Bureau of the Public Debt.
[FR Doc. 03-3820 Filed 2-13-03; 8:45 am]
BILLING CODE 4810-39-M