1. Regulations
  2. title 31
  3. chapter II
  4. part 359
  5. subpart C
  6. § 359.55

View all text of Subpart C [§ 359.45 - § 359.64]

§ 359.55 - How are redemption values calculated for book-entry Series I savings bonds?

We base current redemption values (CRV) for book-entry Series I savings bonds on the definitive savings bonds CRV. To calculate the book-entry values, we use the CRV for the $100 denomination Series I savings bonds and calculate a CRV prorated to the book-entry par investment amount for the corresponding issue and redemption dates. Calculated book-entry CRV will be rounded to the nearest one cent. 4 The formula is as follows (Examples of the calculation are given in appendix A to part 359.):

4 Example: Calculated value of $25.044 rounds to $25.04; calculated value of $25.045 rounds to $25.05.

 [Book-entry par investment ÷ 100] × [CRV value for $100 bond]. [67 FR 64278, Oct. 17, 2002, as amended at 75 FR 52461, Aug. 26, 2010]

AUTHORITY: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.

SOURCE: 67 FR 64278, Oct. 17, 2002, unless otherwise noted.

CITE AS: 31 CFR 359.55