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Public Debt Meets 1996 Customer Service Goals

FOR IMMEDIATE RELEASE

September 13, 1996

The Bureau of the Public Debt announced today that it met its customer service targets for 1996. Public Debt's customer satisfaction levels met the ambitious customer service standards for the second year. The standards were first established in September 1994 as part of the Government-wide effort to deliver high-quality service to all customers.

The Bureau identified its customers as the investors who lend Treasury money by buying savings bonds through financial institutions and investors who purchase marketable bills, notes, and bonds using Public Debt's TREASURY DIRECT book-entry system. The customer standards measure the timeliness and quality of service provided to millions of investors each year.

Public Debt issued some 18.7 million savings bonds to investors with more than 99 percent accuracy during the first six months of 1996. Savings bonds ordered through financial institutions are delivered to investors by the Bureau's Regional Delivery System. The Bureau also established more than 53,000 new TREASURY DIRECT accounts for investors. Also, some 3.3 million transactions were completed for TREASURY DIRECT customers with a 99.8 percent accuracy rate.

Richard L. Gregg, Commissioner of the Public Debt, said, “Offering good service to the millions of Americans who purchase Treasury securities remains a top priority for Public Debt. We value all our customers. Whether they invest $50 in a savings bond or $100,000 in Treasury bills, all our customers can expect to have their securities issued accurately and on time.” Public Debt is the bureau responsible for conducting all of Treasury's debt financing operations.