TREASURY DIRECTIVE 16-54

Date: November 24, 1992

Sunset Review: TBD

Expiration Date: TBD

SUBJECT: Issue of United States Securities Bearing Facsimile Signatures

1. DELEGATION. By virtue of the authority vested in the Fiscal Assistant Secretary by Treasury Order (TO) 101-05, the use of all stocks of United States securities issued under the Second Liberty Bond Act, as amended, which bear facsimile signatures of former Secretaries of the Treasury, may be used in any case where:

a. such securities are issued as an additional issue of an outstanding loan, or under a continuing offer;

b. such securities are issued pursuant to a new offer hereafter made and stocks therefor bearing the signature of the then incumbent Secretary are not available for timely delivery; or

c. such securities are issued in substitution of, or replacement for, other securities in any authorized transaction.

The term "stocks" means stocks on order, as well as all stocks on hand at the Department of the Treasury, Federal Reserve Banks and Branches, acting as fiscal agents of the United States, and at all issuing agents of United States securities.

2. CANCELLATION. Treasury Directive 16-54, "Issue of United States Securities Bearing Facsimile Signatures," dated September 22, 1986, is superseded.

3. AUTHORITIES.

a. TO 101-05, "Reporting Relationships and supervision of Officials, Offices and Bureaus, Delegation of Certain Authority, and Order of Succession in the Department of the Treasury."

b. 5 U.S.C. 301.

c. 31 U.S.C. 752, et seq.

4. OFFICE OF PRIMARY INTEREST. Office of the Fiscal Assistant Secretary.

Gerald Murphy

Fiscal Assistant Secretary