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Where Treasury Securities Are Held

Investors have choices about how they purchase U.S. Treasury securities and where they are held. They can buy from a bank, broker, or dealer and hold their securities in the commercial book-entry system.

Investors can also buy directly from the U.S. Treasury and hold their securities in accounts maintained by the Treasury. We provide online access to accounts and no fees are charged for purchases, reinvestments, or most other transactions.

TreasuryDirect

  • A web-based system that provides online access 24 hours a day, 7 days a week.
  • TreasuryDirect offers U.S. Treasury bills, notes, bonds, Floating Rate Notes, TIPS, electronic Series EE Savings Bonds, and electronic Series I Savings Bonds.
  • TreasuryDirect permits accounts for both individuals and various types of entities including trusts, estates, corporations, partnerships, etc.

Learn more about TreasuryDirect.

Legacy Treasury Direct

  • NOTE: Legacy Treasury Direct is being phased out.
  • Purchases, reinvestments, incoming transfers, and new accounts no longer are allowed.
  • In Legacy Treasury Direct, you maintain your account via our toll-free phone line or paper forms.

Learn more about Legacy Treasury Direct.

Commercial Book-Entry System

  • A multitiered automated system for holding and transferring marketable securities.
  • A delivery versus payment system that provides for the simultaneous transfer of securities against the settlement of funds.
  • Replaces paper securities with electronic records, eliminating the potential for theft, loss, or counterfeiting.
  • Programs include STRIPS and Collateral.

Learn more about the Commercial Book-Entry System.