Reinvest or Redeem Floating Rate Notes (FRNs)
The U.S. Treasury began issuing Floating Rate Notes (FRNs) in January 2014.
If you hold an FRN in TreasuryDirect, when the FRN matures you can redeem it or reinvest it.
If you hold an FRN with a bank or broker, consult the bank or broker to learn your options.
If you hold an FRN in TreasuryDirect:
- You can use the proceeds from the maturing FRN to buy another FRN. This is a reinvestment.
- You can schedule a reinvestment either when you buy your original security or up to four business days before the original security matures.
- Once you schedule a reinvestment, you can edit or cancel it up to four business days before the original security matures.
Learn More about Reinvesting in TreasuryDirect
To redeem an FRN in TreasuryDirect, you don't need to act. On the day the security matures, we deposit its proceeds into your bank account or, if you so specify, into your Certificate of Indebtedness (C of I).