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User Guide Sections 201 Through 210


User Guide 201

Page Title: ManageDirect® > Transact Rights for Marketables > Detail

What you can do on this page:

If you've been granted Transact rights on a security, this page will provide you with details, including the name of a grantor.

Primary Actions

  • Click "Edit Payment Destination" to edit your maturity and/or interest payments.
  • Click "Return" to go back to ManageDirect > View/Transact Rights > Summary.

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User Guide 202

Page Title: ManageDirect® > View Rights for Marketables > Detail

What you can do on this page:

If you've been granted View rights for a Treasury marketable security, this page will provide you with details, including the name of the grantor.

Primary Actions

  • Click "Return" to go back to ManageDirect > View/Transact Rights > Summary.

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User Guide 203

Learn More About Transaction Restrictions

In order for TreasuryDirect to process your transactions more effectively, we must apply restrictions to certain actions performed in your account. Treasury also enforces holding periods for Treasury marketable securities as a precaution, due to their flexible transactional capabilities. Details about these account rules are displayed below.

Closed Book Period

Four business days prior to a scheduled interest and/or maturity payment, TreasuryDirect "locks" the applicable security so we can schedule your upcoming payment(s). This rule applies to interest and maturity payments for Treasury marketable securities only. TreasuryDirect will not allow changes to Registration, Reinvestments, Payment Destination, or View/Transact Rights during this timeframe.

Additionally, Transfer requests of Treasury marketable securities are prohibited during the Closed Book Period. Transactions requiring submission of a form will be held for processing after the Closed Book Period ends. Requests scheduled but not processed prior to the securities entering the Closed Book Period due to a maturity payment will be canceled.

See Learn more about Reinvesting Maturing Proceeds for restrictions on reinvestment transactions.

Original Issue Holding Period

TreasuryDirect requires Treasury marketable securities be held for 45 days following original issue before they may be transferred. 4-Week Bills bought at original issue in TreasuryDirect may not be transferred at all because the term of the security is less than 45 days. The mandatory holding period also applies to securities issued through reinvestment which were not fully funded from the maturing security.

Bank Information Updates for Purchases and Payments

A change to your financial institution information will not apply to a given purchase or payment transaction if the processing of the transaction began before the bank information change was made.

Zero-Percent C of I

When you purchase a C of I by debiting your financial institution, the total balance of your C of I will be ineligible for redemption for five business days. This is necessary in the event your C of I purchase request is returned to us by your financial institution. Five business days following receipt of the debit purchase, your funds are once again eligible for redemption.

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User Guide 204

Page Title: Current Holdings >Pending Transactions for Marketables > Delete

What you can do on this page:

If you selected the delete option from the Pending Transactions for Marketables Detail page, you are prompted to confirm this action. The same information from the previous page will be displayed, with the addition of the question: "Are you sure you want to delete this transaction?" You may delete a pending purchase in Current Holdings prior to the non-competitive close time.

Primary Actions

  • Click "Yes" to delete a single purchase and return to an updated summary list or calendar.
  • Click "No" to return to Current Holdings > Pending Transactions for Marketables > Detail.

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User Guide 206

Page Title: History > Payment History

What you can do on this page:

Payment History gives you a list of transaction records for every Treasury marketable security interest and/or maturity payment made in your account. For details about a particular transaction, choose the button next to the one you wish to view and click "Submit".

Primary Actions

  • Select the radio button for a security and click "Submit" to view the details of that payment.
  • Click "Cancel" to return to your previous page.

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User Guide 207

Page Title: History > Payment History > Detail

What you can do on this page:

You can view specific details about each security payment as well as the transaction details.

Primary Actions

  • Click "Return" to go back to the previous page.

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User Guide 209

Learn More About Security Types

The TreasuryDirect product line consists of the following security types, offered by the U.S. Department of the Treasury. Interest paid on Treasury securities is subject to Federal tax, but exempt from State and Local income tax. For more information, view Treasury Securities and Programs. Securities are issued in electronic form in your TreasuryDirect account. No paper securities are issued.

Savings Bonds

Series EE Savings Bond: An EE Bond is an accrual-type security with interest added to the bond monthly or semiannually (depending upon the original issue date) and paid upon redemption. Interest rates vary depending upon the original issue date. Series EE savings bonds issue dated on or after May 1, 2005 will earn a fixed rate of interest. EE bonds earn interest for up to 30 years. You may purchase up to $10,000 of electronic EE Bonds each calendar year.

Series I Savings Bond: An I Bond is an accrual-type security with interest added to the bond monthly and paid when the bond is redeemed. The I bond interest rate is based upon a combination of a fixed rate of return and a variable semiannual rate. I bonds grow in value with inflation-indexed earnings for up to 30 years. You may purchase up to $10,000 of electronic I Bonds each calendar year.

Treasury Marketable Securities

Bills: U.S. Treasury Bills are a type of short-term security of one year or less, usually issued at a discount. The discount is the amount the security is lowered from its face value and is considered the earned interest when the security matures. For example, if you purchase a $10,000 26-Week Bill at $9,750 and hold it until maturity, the interest you earn is $250. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $10 million.

Notes: U.S. Treasury Notes are a type of medium-term security of 2 to 10 years. Notes are fixed-principal securities. After purchase, interest payments are paid to your selected payment destination every six months until maturity, when the principal is paid. The interest rate is determined at the time of auction. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $10 million.

Bonds: U.S. Treasury Bonds are a type of long-term fixed-principal security of more than 10 years. After purchase, interest payments are paid every six months until maturity, when the principal is paid. The interest rate is determined at the time of auction. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $10 million.

Treasury Inflation-Protected Securities (TIPS): TIPS are a type of medium to long-term security of 5 to 30 years. They are securities with a fixed interest rate whose principal is tied to the Consumer Price Index-Urban (CPI-U).  With inflation, the principal increases.  With deflation, it decreases, but you won't lose money on your investment.  When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. After purchase, TIPS pay interest to your selected payment destination every six months, based on the fixed rate applied to the adjusted principal. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $10 million.

Floating Rate Notes (FRNs): FRNs are a type of medium-term security of 2 years. They are securities with an interest payment that can change over time. As interest rates rise, the security’s interest payments will increase. Similarly, as interest rates fall, the security’s interest payments will decrease. This security makes use of an index rate (tied to the most recent 13-week bill rate prior to the lockout period) and spread (determined at auction) to calculate an interest rate. The index rate changes periodically, in this instance every week, causing the interest rate to change or “float”. After purchase, FRNs pay interest to your selected payment destination every three months, based upon the accrued interest for the payment period applied to the par. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $10 million.

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