[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: 31CFR358.1]

[Page 428-429]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 358--REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS--Table of Contents
 
Sec. 358.1  What special terms apply to this part?

    Bearer security means a definitive security payable to the bearer on 
its face at maturity or when called for redemption before maturity in 
accordance with its terms. Ownership of a bearer security is not 
recorded. Title to the security may pass by delivery without endorsement 
or notice. The only remaining unmatured bearer securities are bearer 
bonds.
    BECCS means the Treasury's Bearer Corpora Conversion System.
    BECCS security means a United States Treasury bearer security 
converted to book-entry form and held in BECCS.
    Callable means a United States Treasury security subject to call 
before maturity.
    Callable Coupons means the coupons associated with a callable 
security that are due after the date the security is subject to call.
    Conversion, as used in this part, means a change in the form of a 
security from definitive form to book-entry form.
    Corpus (plural corpora) means the principal portion of a United 
States Treasury bearer security.

[[Page 429]]

    Coupon means a definitive bearer interest instrument associated with 
a United States Treasury bearer security.
    CUBES means the Treasury's Coupon Under Book-Entry Safekeeping 
program.
    CUBES security means a definitive coupon detached from a United 
States Treasury security and held in CUBES.
    Definitive security means a security held in paper form.
    Depository institution means:
    (1) Any insured bank, mutual savings bank, or savings bank as 
defined in 12 U.S.C. 1813, or any institution eligible to become an 
insured bank under 12 U.S.C. 1815;
    (2) Any insured credit union as defined in 12 U.S.C. 1752, or any 
credit union eligible to become an insured credit union under 12 U.S.C. 
1781;
    (3) Any member as defined in 12 U.S.C. 1422; and
    (4) Any savings association as defined in 12 U.S.C. that is an 
insured depository institution as defined in the Federal Deposit 
Insurance Act, 12 U.S.C. 1811 et seq., or is eligible to become an 
insured depository institution under that Act.
    Non-callable means a United States Treasury bearer security not 
subject to call before maturity.
    Non-callable coupons means coupons associated with a non-callable 
bearer security or coupons associated with a callable bearer security 
that are due on or before the date on which the callable bearer security 
is subject to call.
    Non-transferable means the ownership of a security held in BECCS or 
CUBES may not be transferred. See Sec. 358.5.
    Transferable means the ownership of a security held in BECCS or 
CUBES may be transferred. See Sec. 358.4 of this part.
    We (or ``us'') refers to the Secretary of the Treasury and the 
Secretary's delegates at the Treasury Department and the Bureau of the 
Public Debt. The term also extends to any fiscal or financial agent we 
designate to act on behalf of the United States.