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 Code of Federal Regulations (Last Updated: November 8, 2024)
 Title 24 - Housing and Urban Development
 Subtitle A - Office of the Secretary, Department of Housing and Urban Development
 Part 81 - The Secretary of HUD'S Regulation of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac)
 Subpart H - Book-Entry Procedures

  § 81.96 - Withdrawal of Eligible Book-entry GSE Securities for conversion to definitive form.  

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  • § 81.96 Withdrawal of Eligible Book-entry GSE Securities for conversion to definitive form.

    (a) Eligible Book-entry GSE Securities may be withdrawn from the Book-entry System by requesting delivery of like Definitive GSE Securities.

    (b) A Reserve bank shall, upon receipt of appropriate instructions to withdraw Eligible Book-entry GSE Securities from book-entry in the Book-entry System, convert such securities into Definitive GSE Securities and deliver them in accordance with such instructions. No such conversion shall affect existing interests in such GSE Securities.

    (c) All requests for withdrawal of Eligible Book-entry GSE Securities must be made prior to the maturity or date of call of the securities.

    (d) GSE Securities which are to be delivered upon withdrawal may be issued in either registered or bearer form, to the extent permitted by the applicable Securities Documentation.

    [61 FR 63948, Dec. 2, 1996, as amended at 62 FR 28977, May 29, 1997]