Sell Direct Fee To Increase
On May 1, 2005, Public Debt is raising the fee it charges for its Sell Direct service.
With Sell Direct, an investor who holds Treasury bills, Treasury notes, Treasury bonds, or Treasury Inflation-Protected Securities (TIPS) directly with Treasury asks us to sell his or her security before maturity. Acting on Public Debt's behalf, the Federal Reserve Bank of Chicago gets quotes from brokers and sells the security to the highest bidder. The sale proceeds, less a transaction fee, are deposited into the customer's account.
Since Sell Direct's inception in 1997, the transaction fee has been $34. Starting May 1, it will be $45. The increase is attributed to higher operating costs.
