Anthony Ryan, Assistant US Treasury Secretary for Financial Markets announced on Friday that the department would be expanding savings opportunities for investors.
Beginning with the 13- and 26-week bill auctions of Monday, April 7th, 2008, all Treasury marketable bills, notes, bonds and Treasury Inflation-Protected Securities (TIPS) will be available to the public in minimum and multiple amounts of USD100, he revealed.
Marketable Treasury securities have been available in USD1,000 minimums and multiples since August 1998.
"US Treasury securities, the world's safest, most liquid investments, should be accessible to the broadest universe of investors- large and small. The new, lower minimum Treasury amount will put marketable securities within reach of more savers and investors in the United States and around the world," Ryan explained, going on to state that:
"In addition, being able to buy securities in USD100 increments adds a new degree of flexibility for all market participants."
All Treasury bills, notes, bonds and TIPS may now be sold and transferred in multiples of USD100.
The new minimum and multiples will also apply to outstanding Treasury marketable securities effective April 7th, 2008. Previously, the securities could only be transferred in increments of USD1,000.
Treasury securities can be purchased non-competitively on original issue directly from the Treasury after opening either a TreasuryDirect account online or a Legacy Treasury Direct account. Securities can also be obtained on either a competitive or non-competitive basis through bond brokers and dealers.
Additionally, the minimum and multiple par amount of Treasury securities that may be stripped in the Separate Trading of Registered Interest and Principal of Securities (STRIPS) program will be reduced to USD100 beginning April 7th, 2008.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment