X96-10213. Offering of United States Savings Bonds, Series EE

[Federal Register Volume 61, Number 30 (Tuesday, February 13, 1996)]
[Rules and Regulations]
[Page 5510]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: X96-10213]



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DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 351


Offering of United States Savings Bonds, Series EE

CFR Correction

    In Title 31 of the Code of Federal Regulations, parts 200 to end, 
revised as of July 1, 1995, page 272, the text of Sec. 351.2(g)(3)(i) 
is corrected to read:


Sec. 351.2   Description of bonds.

* * * * *
    (g) * * *
    (3) * * *
    (i) Guaranteed minimum investment yield and resulting values during 
an extended maturity period. A bond may be subject to one guaranteed 
minimum investment yield during its original maturity period and to 
another such yield during each of its extended maturity periods. Bonds 
that entered an extended maturity period from May 1, 1989, through 
February 1, 1993, have a guaranteed minimum investment yield of 6 
percent per annum, compounded semiannually, during that extended 
maturity period. Bonds that entered or enter an extended maturity 
period on or after March 1, 1993, have a guaranteed minimum investment 
yield of 4 percent per annum, compounded semiannually, during that 
extended maturity period, or the guaranteed minimum investment yield in 
effect at the beginning of that period. In order to determine values 
for a bond during its first extended maturity period, the value of the 
bond at the end of its original maturity period is determined using the 
guaranteed minimum investment yield applicable to that period. This 
value is then used as the base upon which interest accrues during the 
first extended maturity period at the applicable guaranteed minimum 
investment yield for that period. The value thus attained at first 
extended maturity (10 years after original maturity) is then used as 
the base upon which interest accrues during the second extended 
maturity period at the applicable guaranteed minimum investment yield 
for that period. The resulting semiannual values are then compared with 
the corresponding values determined using the applicable market-based 
variable investment yields.
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BILLING CODE 1505-01-D-M