Look Before You Leap

And the Survey Says...

Weigh Your Options: Piles of Paper or One CD?

Three New Applications Improve Customer Service

District Shifts Coupon Processing to Dallas

ReserveNotes

Financial Page
Retail Payments: Fact or Fiction?

Get Up to Speed on TT&L Enhancements

District Shifts Coupon Processing to Dallas
Perfect Time to Start TreasuryDirect

On Jan. 1, 2000, the redemption of all semi-annual interest coupons for U.S. Treasury securities was consolidated at the Federal Reserve Bank of Dallas. No other Reserve Bank or Branch will process Treasury coupons.

Federal Reserve Bank of Dallas Coupon Processing P.O. Box 660656 Dallas, TX 75266-0656

Please send all Treasury coupons you receive to the Dallas Fed at the address in the box at left. If your financial institution does not offer redemption services, customers should mail their coupons directly to Dallas.

The Dallas Fed will pay coupons within one business day of receipt, but no earlier than the interest due date. Payments to financial institutions will be made by crediting the institution's reserve account; individuals will be paid with a fiscal agency check.

This announcement arrives on the heels of another Treasury securities change that took place last August, when the Fed discontinued processing definitive securities and providing walk-in services. Eventually all TreasuryDirect services will be consolidated at three customer service centers across the country instead of the current 37 sites throughout the Fed System.

If you have customers who purchase government securities through brokers, now is an ideal time to encourage them to try TreasuryDirect, a program through which investors can electronically purchase Treasury securities directly from the government and hold them in an account with the U.S. Treasury.

Using TreasuryDirect is simple. Investors can initiate transactions by phone, mail or computer without paying broker fees. Unlike paper securities, there is no chance they can be lost, stolen or destroyed. And instead of clipping coupons, investors receive interest payments electronically through Direct Deposit.

For more information on the consolidation or TreasuryDirect, contact Mary Sanders in St. Louis at (314) 444-8509.

back to top