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Bureau of the Public Debt Aids Savings Bonds Owners Affected by Flooding in California

FOR IMMEDIATE RELEASE

February 10, 1998

The Bureau of Public Debt took action to assist victims of flooding in California by expediting the replacement or payment of United States Savings Bonds for owners in the affected areas. The emergency procedures are effective immediately for paying agents and owners in those areas of California affected by the storms. These procedures will remain in effect through March 31, 1998.

Public Debt's action waives the normal six-month minimum holding period for Series EE savings bonds presented to authorized paying agents for redemption by residents of the affected area. Most financial institutions serve as paying agents for savings bonds.

California counties involved are Alameda, Amador, Butte, Colusa, Contra Costa, Glenn, Kern, Merced, Marin, Placer, San Benito, San Joaquin, San Louis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Sonoma, Stanislaus, Tehama, and Ventura. Should additional counties be declared disaster areas the emergency procedures for savings bonds owners will go into effect for those areas.

The replacement of bonds lost or destroyed will also be expedited by Public Debt. Bond owners should complete form PD-1048, available at most financial institutions or by writing the Kansas City Federal Reserve Bank's Savings Bond Customer Service Department, 925 Grand Avenue, Kansas City, Missouri 64198; phone (816) 881-2000. Bond owners should include as much information as possible about the lost bonds on the form. This information should include how the bonds were inscribed, social security number, approximate dates of issue, bond denominations and serial numbers if available. The completed form must be certified by a notary public or an officer of a financial institution. Completed forms should be forwarded to Public Debt's Savings Bond Operations Office located at 200 Third St., Parkersburg, West Virginia 26106-1328. Bond owners should write the word “Floods” on the front of their envelopes to help expedite the processing of claims.