[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR351.11]

[Page 318]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 351_OFFERING OF UNITED STATES SAVINGS BONDS, SERIES EE--Table of Contents
 
Subpart B_Maturities, Redemption Values, and Investment Yields of Series 
 
Sec. 351.11  What do I need to know about the short-term savings bond rate, to 

understand redemption value calculations in this subpart?

    We determine this rate by compiling 6-month Treasury securities 
rates as of the close of business for each day of the previous three 
months and calculating the monthly average for each month, rounding each 
monthly average to the nearest one-hundredth of one percent. We then 
determine the short-term savings bond rate by taking 85 percent of the 
three-month average and rounding the result to the nearest one-hundredth 
of one percent. For bonds entitled to interest accruals at the short-
term savings bond rate, that rate applies to the bond's first full 
semiannual interest accrual period following each announcement of the 
rate.