[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: 31CFR343.1]

[Page 254-255]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 343--REGULATIONS GOVERNING THE OFFERING OF UNITED STATES MORTGAGE GUARANTY INSURANCE COMPANY TAX AND LOSS BONDS--Table of Contents
 
                     Subpart A--General Information
 
Sec. 343.1  General provisions.

    (a) Regulations. Tax and loss bonds are subject to the general 
regulations with respect to United States securities, which are set 
forth in the Department of the Treasury Circular No. 300 (31 CFR part 
306), to the extent applicable. Copies of the circular may be obtained 
from the Bureau of the Public Debt, Division of Special Investments, 
Room 309, 200 Third St., P.O. Box 396, Parkersburg, WV 26106-0396 or 
downloaded from Public Debt's home page on the Internet at: http://
www.publicdebt.treas.gov/.
    (b) Issuance. Tax and loss bonds are issued in book-entry form on 
the books of the Treasury that are maintained by the Division of Special 
Investments. The bonds are issued with 10 or 20 year maturities as 
designated by the purchaser. These bonds are non-interest bearing. Any 
transfer by sale, exchange, assignment, pledge or otherwise, is 
prohibited. The bonds may be reissued as provided in Sec. 343.4.
    (c) Fiscal agents. Selected Federal Reserve Banks and Branches, as 
fiscal agents of the United States, may be

[[Page 255]]

designated to perform such services requested of them by the Secretary 
of the Treasury in connection with the purchase, redemption and other 
transactions involving these bonds.
    (d) Debt limit contingency. The Department of the Treasury reserves 
the right to change or suspend the terms and conditions of this 
offering, including provisions relating to the purchase of, and 
redemption of, the bonds as well as notices relating hereto, at any time 
the Secretary determines that the issuance of obligations sufficient to 
conduct the orderly financing operations of the United States cannot be 
made without exceeding the statutory debt limit. Announcement of such 
changes shall be provided by such means as the Secretary deems 
appropriate.
    (e) General redemption provisions. A bond may not be called for 
redemption by the Secretary of the Treasury prior to maturity. When the 
bond matures, payment will be made of the principal amount due to the 
owner. A bond scheduled for maturity on a non-business day will be 
redeemed on the next business day.
    (f) Reservations. The Secretary of the Treasury may at any time, or 
from time to time, supplement or amend the terms of this circular or any 
related amendments or supplements. Transaction requests, including 
purchases or redemptions of bonds, are not acceptable if unsigned, 
inappropriately completed, or not timely submitted. Any of these actions 
shall be final. The authority of the Secretary to waive regulations 
under 31 CFR 306.126 applies to part 343.
    (g) Forms and additional information. The application form for 
subscriptions, Fedwire instructions and other information will be 
furnished by the Division of Special Investments upon request by writing 
to the Division of Special Investments or by calling (304) 480-7752. 
Application forms may also be downloaded from the Internet at Public 
Debt's home page at: http://www.publicdebt.treas.gov/.