Are Savings Bonds considered monetary instruments????

(5) the term "monetary instruments" means (i) coin or currency of the United States or of any other country, travelers' checks, personal checks, bank checks, and money orders, or (ii) investment securities or negotiable instruments, in bearer form or otherwise in such form that title thereto passes upon delivery;

The above is from FDIC regs. My interpretation is that a savings bond is not a monetary instrument. But when you sell a savings bond you should be gathering enough information for a monetary instrument log. So, what's the big deal?

If your concern is about the cash purchases of monetary instruments recordkeeping required by 31 CFR 103.29, note that the requirement is limited to cash purchases between $3,000 and $10,000 (inclusive) of bank checks, bank drafts, cashier's checks, money orders and traveler's checks.

Although you might want to keep a separate record of cash transactions involving savings bonds, you should definitely not include it as part of the 103.29 record. That's because the 103.29 record is subject to scrutiny (without legal process) by Treasury, and to include extraneous transactions in that record could risk violation of the federal Right to Financial Privacy Act.