31 C.F.R. § 309.3
Denominations and exchange
Treasury bills will be issued in denominations (maturity value) of $10,000, $15,000, $50,000, $100,000, $500,000, and $1,000,000. Exchanges from higher to lower and lower to higher denominations of the same series (bearing the same issue and maturity dates) will be permitted at Federal Reserve Banks and branches and at the Bureau of the Fiscal Service, Washington, DC 20226. Insofar as applicable, the general regulations of the Treasury Department governing transactions in bonds and notes will govern transactions in Treasury bills.
Notes of Decisions
Cited in 2
cases, 1984–1986 · leading case: In re the Est. of Lieberman, 133 Misc. 2d 979 (N.Y. Sur. Ct. 1986).
In re the Est. of Lieberman, 133 Misc. 2d 979 (N.Y. Sur. Ct. 1986). “) The general regulations governing transactions in United States bonds and notes also govern transactions in Treasury bills (31 CFR 309.3.) As for United States bonds, it is noteworthy that the two types of bonds pay interest in different ways.”
Sec. & Exch. Comm'n v. Am. Bd. of Trade, Inc., 751 F.2d 529 (2d Cir. 1984). “" 31 C.F.R. § 309.3 . Through combinations of bills in these amounts the Treasury accommodates investments in $5,000 increments over the initial investment of $10,000.”
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