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Savings Bonds: August 31 Deadline for Series HH

Series HH Savings Bonds will no longer be offered to the public after August 31, 2004. HH bonds issued through August 2004 will continue to earn interest until they reach final maturity 20 years after issue.

The Treasury is withdrawing the offering due to the high cost of exchanges in relation to the relatively small volume of transactions. After the HH offering is withdrawn, holders of eligible E and/or EE bonds may choose to invest the proceeds of maturing issues in marketable Treasury bills or notes at auction, or new Series EE or I savings bonds.

TreasuryDirect offers Series EE and I savings bonds only in electronic form (that is, no paper bonds are issued), with purchases and redemptions made through electronic payments to or from a checking or savings account designated by the account holder. Investors can track and manage their holdings online - 24 hours a day, 7 days a week - from anywhere they have Internet access.More information about Series HH bonds and the exchange transaction can be found on the Bureau's website, www.treasurydirect.gov.

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 3, 7/05

First published on 07/01/2005

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