[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: 31CFR358.14]

[Page 430]
 
                  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. 358.14  What happens when securities are accepted for conversion?

    (a) After processing and initial verification, we will transfer the 
securities accepted to the depository institution's book-entry account, 
establishing a securities entitlement in TRADES according to 31 CFR part 
357 subpart B.
    (b) We will do the final verification within twenty (20) business 
days of initial receipt of the bearer corpora and detached bearer 
coupons.
    (c) If at any time after this twenty (20) day period we determine 
that the security was improperly credited to the BECCS or CUBES account 
of the depository institution, such as in the case of a previously 
undetected, counterfeit security, we reserve the right to adjust the 
BECCS or CUBES account.