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Security Liquidation & Proceeds

Security Liquidation is a process in which the Bureau of the Fiscal Service can convert securities (obligations) that have been received by Federal Executive Agencies into cash. The Department of the Treasury delegated this program to the Bureau of the Fiscal Service. Through this redelegation authority, the Security Liquidation process is accomplished by the Fiscal Service in the Funds Management Division, Funds Management Branch (FMB).

The securities include:

  • Bonds, notes, or other securities acquired by the Secretary of the Treasury for the United States Government
  • Securities delivered to the Secretary by a Federal Executive Agency

Securities received by an agency for any of the following reasons may be liquidated by Funds Management Branch:


Please contact the Bureau of the Fiscal Service to receive instructions on where to mail physical securities or wire electronic securities. Physical securities will need to be sent by registered mail or special messenger.


View the proceeds process and methods of payment.

Return Securities

If the Funds Management Branch is unable to liquidate the security after a reasonable amount of time, it will be returned along with an explanation to the Federal Executive Agency.