31 CFR 344.9 - How do I redeem a Demand Deposit security?
prev | next
(a) When must I notify BPD to redeem a security? A Demand Deposit security can be redeemed at the owner's option, if BPD receives a request for redemption not less than:
(1) One business day before the requested redemption date for redemptions of $10 million or less; and
(2) Three business days before the requested redemption date for redemptions of more than $10 million.
(b) Can I request partial redemption of a security balance? You may request partial redemptions in any amount. If your account balance is less than $1,000, it must be redeemed in total.
(c) Do I have to submit a request for redemption? Yes. An official authorized to redeem the securities must submit an electronic request through SLGSafe. The request must show the Taxpayer Identification Number of the issuer, the security number, and the dollar amount of the securities to be redeemed. BPD must receive the request by 3 p.m., Eastern time on the required day. You cannot cancel the request.
Title 31 published on 2014-07-01.
No entries appear in the Federal Register after this date, for 31 CFR Part 344.