The Department of the Treasury’s Bureau of the Fiscal Service (Fiscal Service) and the Federal Reserve’s Treasury Retail Securities Site are continuing to provide savings bond paying agents with access to information on the U.S. Savings Bond Program redemption process through multiple Federal Reserve Bank communication channels. We want to remind you that the dedicated Savings Bonds News You Can Use page features a variety of resources we have gathered to assist you. We encourage you to bookmark the page and check back often for updated content.
Examples of what you’ll find on the News You Can Use page include:
- Savings bonds tips
- Frequently asked questions
- Related communications
- Contacts who can help answer your questions
Look for savings bonds news – such as the topic below – to appear frequently in future Fed360 issues.
Savings Bond Wizard® retires on May 1, 2018
Effective May 1, the Savings Bond Wizard will no longer be available. However, there’s good news: the user-friendly Savings Bond Calculator offers more options than simply pricing bonds.
Historically, Treasury has offered three ways to calculate the redemption value of savings bonds:
Savings Bond Pro provides a large semi-annual file of redeemed bonds and redemption values to some financial institutions. Many institutions and individual customers used either the Savings Bond Calculator or the Savings Bond Wizard. The Wizard was friendly for customers but limited in options and, as use has declined, Treasury opted to decommission it and rely on the Calculator’s greater functionality instead.
The calculator returns the value of a bond – or multiple bonds – as of a date the customer requests and based on the series, denomination and issue dates of the bond(s). It offers even more information. Financial institutions and customers can:
- Price multiple bonds
- Create an inventory to maintain, print and/or save
- Return to the calculator to quickly update bond values
The calculator prices Series EE, E and I bonds as well as Savings Notes. Beyond returning bond values, the calculator also shows the:
- Current interest rate
- Next accrual date
- Final maturity date
- Year-to-date interest earned
Specific instructions for converting inventories from the Wizard to the Calculator can be found in the existing Wizard Help pages, and instructions will be added to the Calculator page on May 1, 2018. Any rates for May acquired from the Savings Bond Wizard prior to its removal are accurate through May 31, 2018.
Visit the Savings Bond Calculator (Off-site) page for more information or to begin compiling an inventory.
Action Item:Visit the Savings Bonds News You Can Use page to access a variety of resources that Fiscal Service and the Fed have gathered to assist you. We encourage you to submit any comments or suggestions regarding the U.S. Savings Bond Program redemption process via the online form (Off-site) or by phone at (844) 284-2676.
“Savings Bond Wizard” and “Savings Bond Pro” are registered trademarks of the U.S. Department of the Treasury, Bureau of the Fiscal Service.