Glossary

Accrual-Basis Tax Reporting - Reporting the increase in redemption value each year for all securities owned, those subsequently acquired, and for any other obligations purchased on a discount basis.

Accrued Interest - The amount of interest a Note, Bond, FRN, or TIPS earns before it is actually issued in your account. For savings bonds, this is the amount of interest earned from the issue date to a specific point in time.

Auction - The public sale of Treasury marketable securities.

Automated Clearing House (ACH) - A secure funds transfer system governed by the rules of the National Automated Clearing House Association (NACHA) that connects participating financial institutions. The ACH network acts as the central clearing facility for Electronic Fund Transfer (EFT) transactions.

Available Security – A security which is eligible for purchase through BuyDirect® or Purchase Express. A marketable security is available on its auction announcement date, approximately 8 weeks prior to auction. Purchase Express displays the next available marketable security of each type and term.

Bank - A depository financial institution such as a bank or credit union.

Bank Account Type - Indicates the type of bank account (e.g., checking or savings) used when a payment or debit is processed in TreasuryDirect.

Beneficiary - An individual designated by name who will become the owner only upon the death of the owner of the security. Bonds recorded with the name of a Beneficiary are registered, for example; "John Smith Payable on Death (POD) to Jane Smith." "Jane Smith" is the Beneficiary. "John Smith" is the owner and may grant View rights to the Beneficiary. A beneficiary may not be named in an entity registration.

Bill (Treasury Bill, T-Bill, U.S. Treasury Bill) - A type of short-term security of one year or less, normally issued at a discount. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $5 million. It’s possible that rates on Treasury bills sold at auction could be negative.  If this were to occur, you’d owe an amount larger than you’d receive back when the bill matures. 

Bond (Treasury Bond, T-Bond, U.S. Treasury Bond) - A type of long-term fixed-principal security with a maturity of more than 10 years. After purchase, interest payments are paid every six months until maturity, when the principal is paid. The interest rate is determined at the time of auction. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $5 million.

Book-Entry Security - A Treasury security maintained by the U.S. Department of the Treasury at the Bureau of the Public Debt in electronic or "paperless" form as a computer record.

Business Day - A day featured on the Federal Business Calendar on which funds may be settled through ACH.

Cash-Basis Tax Reporting - Reporting the increase in redemption value of securities for the year of final maturity, redemption, or other disposition, whichever is earlier.

Cash Management Bill - Special Bills offered occasionally as Treasury borrowing needs warrant. Cash Management Bills may not be purchased in TreasuryDirect.

Closed Book Period - Four business days prior to a scheduled interest and/or maturity payment, TreasuryDirect "locks" the applicable security so we can schedule your upcoming payment(s). This rule applies to interest and maturity payments for Marketable Securities. TreasuryDirect will not allow changes to registration, payment destination, number of reinvestments, or View/Transact Rights during this timeframe. Additionally, Internal and External Transfers of marketable securities are prohibited during the Closed Book Period. Transactions requiring submission of a form will be held for processing when the Closed Book Period ends. A maturing security scheduled for reinvestment will be "locked" on auction day if the auction for the new security is prior to the Closed Book Period.

Competitive Bidding - In a Treasury auction, a competitive bid specifies the rate, yield, or discount margin expected for a security. Bids lower than the accepted rate receive the accepted rate. Bids higher than the accepted rate are rejected. Competitive bidding is only available in the Treasury Automated Auction Processing System (TAAPS®) and is therefore not available in TreasuryDirect.

Confirmation Number - An automatically generated number created when certain transactions are made in TreasuryDirect. Each number is five digits, the first being a letter designation for the transaction type. The table below shows the beginning letter for each confirmation number type and a description of the transaction it identifies.



Confirmation Number Key
Confirmation Number
Begins with Letter
Description Example
D   Gift Delivery DAAAI
E   Zero-Percent C of I Purchase/Payroll Zero-Percent C of I Purchase EAAB2
I   Security Issued IAAC1
K   External Security Transfer KAAA8
M   Zero-Percent C of I Issue MAA12
N   Non-Deliverable Matured Gift Proceeds NAAA7
P   Gift Proceeds Delivery PAAB2
Q   Redirected Undelivered Zero-Percent C of I Payment QAAC9
R   Security Redemption or Maturity Payment RAALE
S   Interest Payment SAAAB
T   Security Transfer TAACB
U   Redirected Undelivered Security Redemption Payment UAAA1
V   Zero-Percent C of I De-Linked VAAB3
W   Zero-Percent C of I Redemption/Payroll Zero-Percent C of I Redemption WAAI4
X   Security De-Linked XAAB2
Z   Security Sold ZAA10

Conversion - When you trade in your paper securities for an electronic version in your account, you have converted them using SmartExchange and your Conversion Linked Account.

Conversion Account or Conversion Linked Account - This is an account you establish so you can convert your paper Series EE and I Savings Bonds to electronic securities in your TreasuryDirect account.

Co-Owner - A person named in the registration of a Treasury security as the second-named registrant with the names connected by "OR." The first-named registrant and the second-named registrant have equal rights to the security. This form of registration only exists in TreasuryDirect when paper bonds are converted into electronic form.

CPI-U - Consumer Price Index for All Urban Consumers is a measurement of the average change over time in prices paid by consumers for consumer goods and services, maintained by the Bureau of Labor Statistics of the U.S. Department of Labor. We use this index to calculate payments for Inflation-Protected securities.

Current Value - A security's value based upon its principal amount and any accrued interest, at a specific point in time.

CUSIP (Committee for Uniform Security Identification Procedures) - This is a number the Treasury uses to identify marketable securities.

Custom Account or Custom Linked Account - This is a flexible account you may establish to meet your specific financial goals. You can even create a customized name such as "Vacation Fund" for the account. We offer the same convenient capabilities as in your Primary TreasuryDirect account.

Daily Index Rate - The simple-interest money market yield, computed on an actual/360 basis and rounded to nine decimal places, from the highest accepted discount rate of a 13-week bill auction as announced in the Treasury auction results press release.

Dated Date - The date from which interest accrues for notes and bonds. In cases where interest begins accruing prior to the issue date, the dated date will be prior to the issue date. An example is when the dated date is a Saturday and the issue date is the following Monday.

De-Linking - The only Linked account that TreasuryDirect customers can de-link is a Minor account. De-linking refers to moving the Linked account's securities to a Primary TreasuryDirect account. When the child reaches age 18 and establishes a TreasuryDirect account, you may de-link the securities into the new Primary account.

Delivery - The moving of a gift security from the account of the purchaser to the account of the recipient. A delivery must be at least $25.00. For a partial delivery, the remaining current value of the security in the account may not be less than $25.00. The gift delivery amount consists of principal plus a proportionate amount of interest. Entities may not purchase or receive gift securities.

Discount - The amount by which the auction price of a Marketable Security is lower than its face value.

EE Bond (Series EE Bond) - A type of U.S. Savings Bond offered by the U.S. Department of the Treasury. A Series EE Bond is an accrual-type security; meaning interest is added to the bond monthly or semiannually (depending upon the original issue date) and paid upon redemption. The interest rate of an EE Bond depends upon the original issue date. For EE Bonds issued May 1, 2005, and later, a fixed interest rate is applied. These bonds increase in value every month, and interest is compounded semiannually. A 3-month interest penalty will apply to bonds cashed before five years. Some older EE Bonds earn interest based on 5-year Treasury security yields or at a guaranteed minimum and all EE bonds earn interest for up to 30 years from their original issue date. For EE Bonds converted to electronic form, the percentage rate varies depending upon the original issue date.

Electronic Deposit - A credit transaction initiated through electronic means (i.e., phone, computer network) by your financial institution or payroll office.

Electronic Fund Transfer (EFT) - A debit or credit transaction initiated through electronic means (i.e., phone, computer network).

Employer Identification Number (EIN) – Also known as a Federal Tax Identification Number, used to identify a business entity.  An EIN is composed of nine digits, separated by one hyphen after the second digit (for example, 12-3456789).  The hyphens are an essential part of the number.

Entity – Any owner of a TreasuryDirect account that is not an individual. Types of entities available in TreasuryDirect are sole proprietorship, partnership, limited liability company or professional liability company, corporation, deceased estate (estate of a decedent), living estate (estate of a living person such as an incompetent person or a minor), or trust. See Learn more about Entity Accounts.

Entity Account Manager – The individual who opens and accesses a TreasuryDirect account for an entity and conducts transactions on behalf of an entity. This individual must be authorized to act alone with regard to the account on behalf of the entity or be authorized to act alone with regard to the account on behalf of an organization in its role as legal representative, legal guardian, or trustee.

External Transfer - Moving the partial or full amount of a marketable security from TreasuryDirect to a bank or broker. When requesting a partial External Transfer, you must transfer a minimum of $100 while leaving at least $100 of the current value of the security. This action automatically changes the ownership of the security. We recommend you contact the bank or broker for the correct routing number, bank name, and special handling instructions before requesting an External Transfer. An external transfer requires the submission of PD F 5511 E.

Floating Rate Note (FRN) - A Floating Rate Note is a security that has an interest payment that can change over time. As interest rates rise, the security's interest payments will increase. Similarly, as interest rates fall, the security's interest payments will decrease. This security makes use of an index rate (tied to the most recent 13-week bill rate prior to the lockout period) and spread (determined at auction) to calculate an interest rate. The index rate changes periodically, in this instance every week, causing the interest rate to change or "float".

Funding Options - TreasuryDirect offers you flexible funding options for all your security purchases. Automated Clearing House (ACH) debits and credits serve as the primary mechanism for funding your account. You may instruct us to debit your bank account for a security purchase or you may establish a payroll deduction that credits your account. You may also opt to establish a Payroll Savings Plan in your TreasuryDirect account and schedule a regular payroll allotment with your employer.

Gift Proceeds - If you have converted a paper bond with a gift form of registration and the bond subsequently matures, the Gift Proceeds are held in your TreasuryDirect account until delivery to the intended recipient. You must deliver the full amount of the matured Gift Proceeds. When the proceeds are delivered, a Zero-Percent C of I is purchased in the recipient's account.

Grantee - A TreasuryDirect account holder may be granted View or Transact rights by a first-named registrant (or grantor) based on the type of security registration. View or Transact rights are not available in entity accounts.

Grantor - As the first-named registrant, a TreasuryDirect account holder (or grantor) may grant View or Transact rights to a grantee based on the type of security registration. View or Transact rights are not available in entity accounts.

Hold Code - A designation that can be placed on an account by TreasuryDirect Customer Service to prohibit certain transactions, or by an account owner to prohibit all transactions and access to an account.

I Bond (Series I Bond) - A type of U.S. Savings Bond offered by the U.S. Department of the Treasury. A Series I Bond is an accrual-type security, meaning interest is added to the bond monthly and paid when the bond is redeemed. The I Bond interest rate is based upon a combination of a fixed rate of return and a variable semiannual rate. I Bonds grow in value with inflation-indexed earnings for up to 30 years.

Incoming External Transfer - Moving a marketable security from a bank, broker, or Legacy Treasury Direct into your online TreasuryDirect account. For more information, see Learn more about Transfers.

Index Rate - The High Rate from the 13-week Treasury bill auction as announced by the Bureau of the Public Debt and converted to a simple-interest money market yield on an actual/360 basis as computed in the Uniform Offering Circular.

Individual – A natural person.

Inflation-Protected Security - A security that earns interest based in part on the percentage change in the Consumer Price Index (CPI-U).

Interest - Compensation paid for the use of money at a specified rate.

Interest Rate (EE Bond) - The interest rate of an EE Bond depends upon the original issue date, (see EE Bond above). For EE Bonds issued May 1, 2005, and later, a fixed interest rate is applied. Some older EE Bonds earn interest based on 5-year Treasury security yields or at a guaranteed minimum. (See How is the interest rate of an EE Bond determined?)

Interest Rate (I Bond) - The interest rate for an I Bond is based upon a combination of two separate rates: a fixed rate of return and a variable semiannual inflation rate. The fixed rate remains the same throughout the life of the I Bond, while the semiannual inflation rate can vary every six months. (See How is the interest rate of an I Bond determined?)

Internal Transfer - Moving the partial or full amount of a marketable security from one TreasuryDirect account to another. When requesting a partial Internal Transfer, you must transfer a minimum of $100 while leaving at least $100 of the current value of the security. This action automatically changes the ownership of the security.

IRS Name Control - A name control is a sequence of characters, generally the first four characters of a taxpayer’s last name or the first four letters of a business name. The name control is used by the IRS to process information reported electronically to them. It is important that the combination of name control and taxpayer identification number (TIN) provided on electronically reported information match IRS’s record of name controls and TINS. You must furnish a name control code provided by the IRS when establishing an entity account. For more information on name control, go to www.irs.gov and search ‘name control’.

Issue Date - The date a security is issued in your TreasuryDirect account. For savings bonds, this is the first day of the month in which the Treasury receives funds for the purchase of the security. For example, if you purchased a savings bond on July 10, the issue date would be July 1. Funds must be received prior to Midnight Eastern Time to be credited for a particular day. For marketable securities, this is the actual date the security is issued in your account. This date is used for determining when the security is eligible for redemption (savings bonds), the accrual interest amount designated, and when it reaches maturity. The issue date is also used to determine the Original Issue Holding Period for marketable securities purchased in TreasuryDirect.

Linked Accounts - TreasuryDirect Linked Accounts allow you the flexibility of managing a securities portfolio customized to your needs in an account that is "linked" to your TreasuryDirect account. Open a Minor or Custom account, or use the Conversion account to convert your paper securities into electronic form. The only way to access Linked accounts is through your Primary TreasuryDirect account. Holdings for each Linked account are kept separately from your Primary TreasuryDirect account. Minor linked accounts are not available in entity accounts.

Manifest - A detailed list of securities created through SmartExchange®. The manifest is mailed with the corresponding paper bonds for conversion into electronic form in a TreasuryDirect account.

Marketable Securities - Treasury Bills, Notes, Bonds, Floating Rate Notes (FRNs) and Treasury Inflation-Protected Securities (TIPS), that may be purchased, held,or transferred in the secondary securities market through your TreasuryDirect account.

Maturing Proceeds - Funds from a maturing Marketable Security. (See Learn more about Reinvesting Maturing Proceeds.)

Maturity - A security has reached final maturity when it is no longer earning interest on the principal investment.

Maturity Date - The date when the security stops earning interest.

Minor Account - This is a custodial account that a parent, natural guardian, or person providing chief support establishes for a child under the age of 18. The custodian may purchase, redeem, receive gift deliveries, and perform other transactions within the account on behalf of the minor. When the child reaches age 18 and establishes a TreasuryDirect account, the custodian may de-link the securities into the child's account. De-linking refers to moving the Linked account's securities to a Primary TreasuryDirect account. If the custodian chooses to continue to maintain the account once the minor reaches age 18, he is restricted from performing nearly all transactions, however, he can still purchase securities on the child's behalf. Minor linked accounts are not available in entity accounts.

Noncompetitive Bidding - In a Treasury auction, a noncompetitive bid guarantees you'll get the full amount of the security you purchase at the rate, yield, or spread determined during the auction by competitive bidding. You are bidding noncompetitively when you purchase marketable securities through TreasuryDirect. See Learn more about Auction Process for more details.

Note (Treasury Note, T-Note, U.S. Treasury Note) - A type of medium-term security with a maturity of 10 years or less. Notes are fixed-principal securities. After purchase, interest payments are paid to your selected payment destination every six months until maturity, when the principal is paid. The interest rate is determined at the time of auction. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $5 million.

One Time Passcode - If you choose not to register your computer, or if some of your settings have changed, you’ll need a one time passcode which will be emailed to you each time you access your account.

Original Issue Holding Period - TreasuryDirect requires Marketable Securities originally issued in an account be held for 45 days before they may be transferred. This rule doesn't apply to securities transferred into your account from an outside bank or broker or to any security issued through reinvestment which was fully funded from a maturing security.

Par - The principal amount of a security.

Payment Destination - The destination selected to use for maturity, interest, and/or redemption payments. This may be a financial institution or your Zero-Percent C of I.

Payroll Savings Plan - The new Payroll Savings Plan feature is designed for individual primary account owners to make recurring purchases of electronic Series EE and Series I Savings Bonds automatically, using a regular payroll allotment/direct deposit sent from their employer.

Payroll Zero-Percent Certificate of Indebtedness (Payroll C of I) - The Payroll C of I is a Treasury security that does not earn any interest. It is intended to be used as a source of funds for purchasing savings bonds through the Payroll Savings Plan.

Pending Transaction - Any transaction waiting for final processing; for example, scheduled future purchases. While pending, most transactions may be deleted in TreasuryDirect. A pending redemption from a Zero-Percent C of I may not be deleted.

Person - An individual or an entity.

Personalized Image and Caption - You will be asked to choose a personalized image and create a caption which will be displayed on the Password page when you log in to your TreasuryDirect account. Your personalized image/caption helps you to know that you are on the authentic TreasuryDirect website. You may change your personalized image/caption at any time.

Premium - The amount by which the auction price of a Marketable Security is higher than its face value.

Primary Account - A Primary account is your personal account you open in TreasuryDirect. Once a Primary account is opened, you may establish Minor or Custom Linked accounts that are accessed only from your Primary account. Minor linked accounts are not available in entity accounts.

Primary Owner - A Primary Owner type of registration denotes the first-named registrant in the registration of a security held in TreasuryDirect (e.g., registered "John Doe SSN 123-45-6789 WITH Joseph Doe SSN 987-65-4321"). In this example, John Doe is the Primary Owner, and may grant View or Transact rights to the second-named registrant, Joseph Doe. Primary Owner registrations are not available in entity accounts.

Principal Amount - Principal amount is the same as the purchase amount of a security.

Purchase Express - Purchase Express allows you to quickly purchase securities using your preferred registration and primary bank information or debit your bank account to fund your Zero-Percent C of I. After reviewing Purchase Express Terms and Conditions on the My Account page, fill in the Amount, check the certification box to agree to the Terms and Conditions, and then click Buy Now. The Purchase Express Confirmation page shows all of the details of your purchase. Use the BuyDirect® tab to purchase securities with a different registration (individual accounts) or another financial institution.

Purchase Limitations - You may purchase up to $10,000 of each savings security type - EE or I bonds - per person each calendar year. The purchase amount of the securities you transfer, deliver as gifts, or de-link to another TreasuryDirect account holder is applied to the recipient's annual purchase limitation in the year the transaction occurs. You may purchase up to $5 million of each marketable security type/term in a single auction when you bid noncompetitively through your TreasuryDirect account. These purchase limitations do not apply to securities issued through reinvestment

Purchase Schedule - A savings bond purchase schedule, through BuyDirect, is established by setting a recurring security purchase (i.e., monthly, quarterly, or individually designated dates) within TreasuryDirect. The purchase schedule identifier is designated by one to three characters assigned at purchase confirmation and shared by all securities within the schedule (i.e., ABC).

Rate - The amount of return on an investment in a Treasury security.

Recipient - The receiver of a gift delivery, transfer, and/or de-linked security.

Redemption - The payment of principal and accrued interest on a security at maturity, or at the option of the owner, prior to maturity. The owner of an EE or I Bond held in TreasuryDirect may request a full redemption (all principal and interest) or a partial redemption ( a portion of the principal and a proportionate amount of interest).

Redemption Value - The principal and accrued interest, or a portion of principal plus a proportionate amount of accrued interest, as of the date of redemption.

Registering a Computer - You will be given the opportunity to register your computer so it will be recognized when you log in. (JavaScript and cookies must be enabled for you to register your computer.) Registering your computer makes accessing your account convenient, while providing a secure environment for your investments and your personal information. If you choose not to register your computer, you’ll need a one time passcode which will be emailed to you each time you access your account.

Registration - For an individual, the name and Social Security Number (SSN) of the person(s) associated with a security and maintained on record. An account registration list displays all registrations the account holder has entered. The owner may add or delete registrations from the list at any time. For an entity, the registration is the name and taxpayer identification number of the entity. An entity may have only one registration per account.

Reinvesting Maturing Proceeds (Reinvestment) - Using the redemption proceeds of a maturing marketable security to purchase a new marketable security of the same type and term, with the automatic reinvestment option available in TreasuryDirect. (See Learn more about Reinvesting Maturing Proceeds.)

Request Date - The date a transaction is entered by an account holder. This date does not necessarily correspond with the date a transaction is actually processed based on business days, holidays, and scheduled times for transaction processing.

Return Code - An identifier resulting from the return of information by your designated financial institution. Return codes may limit your ability to conduct future transactions. If a bank listing has a Return Code, the code will be removed when we process your request to edit the bank routing number, account number, or account type.

Routing Number - The nine-digit number associated with your financial institution (a.k.a. ABA#). The number is usually located in the bottom left corner of a check. If you are unsure of the number to use, please verify the correct number with your bank.

Second-Named Registrant - The second person named in the registration of a security held in TreasuryDirect. In the example, "John Doe SSN 123-45-6789 WITH Joseph Doe SSN 987-65-4321," Joseph Doe is the second-named registrant. Second-named registrants are not permitted in entity accounts.

Secure Sockets Layer (SSL) - The industry-standard protocol for securing sensitive data, such as payment information, that is being transmitted over the Internet. SSL works by using a public key to encrypt data that is transferred.

Security or Treasury Security - An obligation issued by the U.S. Treasury that may be held in a TreasuryDirect account.

Social Security Number (SSN) - The identifying number required on tax returns and other documents submitted to the Internal Revenue Service by an individual. An SSN is composed of nine digits separated by two hyphens; for example, 123-45-6789.

Sole Owner - A person named in the registration of a Treasury security without a Beneficiary or second-named registrant. The Sole Owner may grant View rights to any TreasuryDirect individual account holder. View rights are not available in entity accounts.

Spread - The fixed amount over the life of a floating rate note that is added to the index rate in order to determine the interest rate of the floating rate note. The spread will be determined in the auction of a new floating rate note and is expressed in tenths of a basis point (i.e., to three decimals). Additionally, the spread will be equal to the high discount margin at the time a new floating rate note is auctioned.

Taxpayer Identification Number (TIN) - The TIN is the identifying numbers required on tax returns and other documents submitted to the Internal Revenue Service; that is, an individual's Social Security Number (SSN) or an Employer Identification Number (EIN). A SSN is composed of nine digits separated by two hyphens, for example, 123-45-6789. An EIN is composed of nine digits separated by one hyphen, for example, 12-3456789. The hyphens are an essential part of the numbers.

Term - The time period from issue date to final maturity during which a security earns interest.

Trace Number - A tracking number assigned by the Electronic Fund Transfer (EFT) process to identify individual money transfer transactions. These numbers may assist you when contacting your financial institution to resolve any existing account difficulties.

Transact Rights - On a security with Primary Owner registration, the first-named registrant (or grantor) may grant Transact rights to the second-named registrant (or grantee). The grantor may edit or delete these rights at any time. Transact rights do NOT apply to the Zero-Percent C of I security. Transact rights allow the grantee of a savings bond to view and redeem the security. Transact rights allow the grantee of a marketable security to transfer the security, as well as change the maturity and/or interest payment destination. For tax reporting information, see Learn more about Tax Reporting. Transact rights are not available in entity accounts.

Transfer (Marketable Securities) – See Internal Transfer or External Transfer.

Transfer (Savings Bonds) - Moving the partial or full amount of a security, consisting of principal plus a proportionate amount of interest, from one TreasuryDirect account to another. When making a partial transfer, you must transfer a minimum of $25.00 while leaving at least $25.00 of current value in the security. This action automatically changes the ownership of the security. Some transfers may result in a reportable tax liability to the original bond owner.

TreasuryDirect Account - Your personal online account where you can purchase U.S. Treasury securities via the Internet.

Treasury Inflation-Protected Security (TIPS, Treasury Inflation-Indexed Security) - A type of medium to long-term security whose term is at least 5 years and whose principal is indexed semi-annually to the Consumer Price Index - Urban (CPI-U). After purchase, interest payments are paid to your selected payment destination every six months until maturity. Because the interest rate is applied to the adjusted principal, interest payments can vary in amount from one period to the next. If inflation occurs, the interest payment increases. In the event of deflation, the interest payment decreases. At the maturity of a TIPS, you receive the adjusted principal or the original principal, whichever is greater. These provisions protect you against inflation and deflation. Minimum purchase is $100 with multiples sold in the same increment. The maximum amount for a noncompetitive purchase is $5 million.

Undelivered Payment - A payment that cannot be made to your designated financial institution and is returned to the Bureau of the Public Debt. After September 2005, TreasuryDirect directs all undeliverable payments to your Zero-Percent C of I.

View Rights - On a security with Sole Owner registration, the first-named registrant (or grantor) may grant View rights to any individual (or grantee) with a TreasuryDirect account. On a security with Beneficiary registration, the first-named registrant may only grant View rights to the second-named registrant. On a security with Primary Owner registration, the first-named registrant may only grant View rights to the second-named registrant. The grantor may edit or delete any of these rights at any time. View rights do NOT apply to the Zero-Percent C of I security, and certain restrictions apply for converted securities. View rights are not available in entity accounts.

Withholding Rate - The percentage of interest being distributed to the Internal Revenue Service (IRS) on behalf of the account holder. The withholding rate may be voluntary, or levied by the IRS.

Yield - The annualized rate of return to maturity on a Treasury security.

Zero-Percent Certificate of Indebtedness (Zero-Percent C of I or C of I) - A Treasury security that does not earn any interest. It is intended to be used as a source of funds to purchase eligible interest-bearing securities.