TreasuryDirect for...

  • Individual
    • Learn about purchasing & holding Treasury Securities
    • Set up an online account
  • Institutional
    • Access data & rules on securities auctions
    • Obtain information about Treasury securities
  • Government
    • Invest through the Federal Investments program
    • Purchase & manage SLGS
    • Borrow from the Treasury or liquidate securities

Law & Guidance

Are you a lawyer, or a financial advisor, advising a client who owns Treasury securities, or a law student researching a paper? Or do you just want to read the laws and regulations on which our programs are based? Here's what you will find:

Authorizing Statutes

We use the Government Printing Office (GPO) website to link to the statutes.

  • Sale of Treasury Securities (31 U.S.C. Subtitle B, Chapter II, Sub-chapter A, Bureau of the Fiscal Service) authorizes the Treasury to borrow money through the sale of Treasury securities. (The Bureau of the Fiscal Service formerly was the Bureau of the Public Debt.)
  • Government Securities Act (15 U.S.C. Chapter 2B Section 780-5) governs securities brokers and dealers.

The links to the statutes and regulations on this page will take you away from this site. The Government Printing Office (GPO) publishes the official texts.

Code of Federal Regulations (CFR)

Treasury regulations, or circulars, which carry out the statutes, are found in 31 CFR. We use Government Printing Office's GPO Access to connect to the regulations. You can also download many of the circulars related to Treasury regulations.

Series EE and HH savings bonds

  • Offering of Series EE This is a PDF Document (Part 351)
    Describes the offering of definitive and paperless Series EE savings bonds, including available denominations and other attributes, and how we calculate and pay the interest earned.
  • Offering of Series HH This is a PDF Document (Part 352)
    Describes the offering of Series HH savings bonds, including available denominations and other attributes, and how we calculate and pay the interest earned (no longer offered for sale).
  • Terms and conditions for Series EE and HH This is a PDF Document (Part 353)
    Describes the terms and conditions for Series EE/HH savings bonds, including registration restrictions, how the bonds are paid and to whom.

If you need additional help downloading...

Series I savings bonds

  • Offering of Series I This is a PDF Document (Part 359)
    Describes the offering of definitive and paperless Series I savings bonds, including available denominations, other attributes of I bonds, and how we calculate and pay the interest earned.
  • Terms and conditions for Series I This is a PDF Document ( Part 360)
    Describes the terms and conditions for Series I savings bonds, including registration restrictions, how the bonds are paid and to whom.

If you need additional help downloading...

Purchase of Treasury Securities Through TreasuryDirect

Marketable Treasury securities

Non-Marketable Treasury securities

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Government Securities Market Regulation

This section includes regulations governing: the sale and issuance of Treasury securities, Treasury's securities redemption (buyback) operations, the eligibility and valuation of securities pledged to Treasury's Fiscal Service Collateral Programs, and Government Securities Act regulations and interpretations.

  • Auction Rules (Uniform Offering Circular)
    Terms and conditions for the sale and issue of marketable Treasury bills, notes, and bonds as well as a description of how they are auctioned, and the authorized payment methods.
  • Buyback Rules (Treasury's Securities Redemption Operations)
    Terms and conditions by which Treasury may redeem (buy back) outstanding unmatured marketable Treasury securities.
  • Treasury's Fiscal Service Collateral Programs
    Eligibility and valuation issues for collateral pledged to programs governed by 31 CFR Part 203 (the TT&L program), Part 202 (Circular 176), and Part 225 (Circular 154).
  • Government Securities Act Regulations and Interpretations
    Treasury's rules for government securities broker-dealers on financial responsibility, protecting customer securities and funds, record keeping, large position reporting, and financial reporting and audits. Also included are rules concerning custodial holdings of government securities by depository institutions.

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Federal Register

The Federal Register provides public notice of all proposed and final changes to the Code of Federal Regulations, that may not have been added to the annual publication of the CFR. The Federal Register also provides notices and other important information that is not in the CFR.

A list of Federal Register items about the Bureau of the Fiscal Service (formerly Bureau of the Public Debt) and Treasury securities that have been published since July 1, 1996, are provided below. More Federal Register or Code of Federal Regulation (CFR) items can be found at the Government Printing Office (GPO) web site under Executive Resources.

If you wish to review or comment on our or other Federal agencies' proposed or interim regulations, please visit www.regulation.gov.

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Other Legal References

  • Article on Recent Developments Related to Treasury's "TRADES" Regulations
    As the name indicates, this page summarizes Treasury's "TRADES" Regulations. The TRADES regulations govern holdings of marketable Treasury securities outside of TreasuryDirect. They were enacted in 1996.
  • Frauds, Phonies and Scams
    If you have been presented with a suspicious Treasury Security that doesn't look right or have been invited to participate in a Treasury Securities transaction ''guaranteed'' to make lots of money, visit our web page related to ''frauds and phonies'' to read about fraudulent schemes and phony financial instruments.
  • Freedom Of Information Act (FOIA)
    Visit our web pages for useful information about FOIA, including how to make a FOIA request.

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