[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR337.12]

[Page 233]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 337--SUPPLEMENTAL REGULATIONS GOVERNING FEDERAL HOUSING ADMINISTRATION DEBENTURES--Table of Contents
 
                    Subpart B--Book-Entry Debentures
 
Sec. 337.12  Applicability of TREASURY DIRECT regulations.

    The regulations governing the TREASURY DIRECT Book-Entry Securities 
System (TREASURY DIRECT) (part 357 of this chapter) apply to govern 
transactions in FHA book-entry debentures, with the following 
exceptions:
    (a) Securities account. (See Sec. 357.20 of this chapter.) An 
account in the book-entry debenture system may be established by the 
Department of the Treasury upon receipt of the request that a new 
debenture be issued or that a certificated debenture be converted to 
book-entry form. The statement of account shall contain information 
regarding the account as of the date of such statement. It will include 
a unique account number, but will not include price information.
    (b) Transfers. (See Sec. 357.22 of this chapter.) A book-entry 
debenture may be transferred only between accounts established in the 
FHA book-entry debenture system.
    (c) Debentures announced for call. Debentures, which by their terms 
are subject to call, may be called for redemption, in whole or in part, 
at par and accrued interest, on any interest date on three months' 
notice. For purposes of a transaction request affecting ownership and/or 
payment instructions with respect to a debenture announced for call, a 
proper request must be received not less than twenty (20) calendar days 
preceding the next payment date. If the twentieth day preceding a 
payment date falls on a Saturday, Sunday, or a Federal holiday, the last 
day set for the receipt of a transaction request will be the last 
business day preceding that date. If a transaction request is received 
less than twenty (20) calendar days preceding a payment date, the 
Department may, in its discretion, act on such request if sufficient 
time remains for processing. If a transaction request is received too 
late for completion of the requested transaction, principal and final 
interest on the called debentures will be paid to the owner of record 
and sent to the payment address of record.
    (d) Payments. (See Sec. 357.26 of this chapter.) Direct deposit 
(electronic funds transfer) payments with respect to debentures, e.g., 
principal, interest and cash adjustments, will be made without 
prenotification messages.