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RESEARCH CENTER

Transferring Floating Rate Notes (FRNs)

The U.S. Treasury began issuing Floating Rate Notes (FRNs) in January 2014. If you buy an FRN and later want to transfer it, this page explains how to do it.

Transfer from the Commercial Book-Entry System to TreasuryDirect

If you hold Floating Rate Notes (FRNs) through a broker or bank, you can have your broker or bank transfer the securities to TreasuryDirect.

  1. Open an account in TreasuryDirect. (If you already have an account, you may skip this step.)
  2. Give your bank or broker the following information:
    • Receiving bank name: TREASURYDIRECT (all capital letters, no spaces)
    • ABA number: 051736158
    • Your TreasuryDirect account number

Transfer from TreasuryDirect to the Commercial Book-Entry System

You can transfer FRNs from TreasuryDirect to the commercial book-entry system. In the commercial system, you own the securities through a broker or bank.

In TreasuryDirect, under “ManageDirect®,” choose the appropriate option for making a transfer and supply the requested information. You'll be asked for the routing number and name of the financial institution to which you're making the transfer.

NOTE: Certain transfers require you to submit a paper form. When a form is required, a message displays with a link to the form needed for your transaction.

Transfer within TreasuryDirect

You may transfer an FRN to a primary account, custom account, or minor linked account.

  1. In TreasuryDirect, under “ManageDirect,” choose the appropriate option for making a transfer and supply the requested information.
  2. Provide the recipient's Social Security Number and TreasuryDirect account number when transferring to another primary account.

NOTE: Certain transfers require you to submit a paper form. When a form is required, a message displays with a link to the form.