Public Debt to End SellDirect® Services
FOR IMMEDIATE RELEASE
November 15, 2010
The Bureau of the Public Debt will end SellDirect® services effective December 17, 2010.
Treasury decided to end SellDirect as a cost savings measure since it is not essential to its programs or customers. In TreasuryDirect® and Legacy Treasury Direct®, volumes have been historically low because most investors buy and hold securities to maturity. For the sale of securities, alternative service providers are available to customers who transfer their securities to their commercial accounts.
SellDirect is a service that allows investors who hold marketable securities in the TreasuryDirect and Legacy Treasury Direct systems the option of selling their securities on the secondary market through the Federal Reserve Bank of Chicago. Public Debt began offering SellDirect services to Legacy Treasury Direct customers in September 1997. In 2005, the service was also offered to TreasuryDirect customers.
Visit our frequently asked questions page for more information about the end of SellDirect.
Public Debt is an agency of the Department of the Treasury whose mission is to borrow the money needed to operate the federal government and account for the resulting debt. Public Debt also provides reimbursable services to other federal agencies through its Administrative Resources Center in Parkersburg, West Virginia. For more information on Public Debt, visit www.publicdebt.treas.gov.