Bearer security means a definitive security payable to the bearer on its face at maturity or when called for redemption before maturity in accordance with its terms. Ownership of a bearer security is not recorded. Title to the security may pass by delivery without endorsement or notice. The only remaining unmatured bearer securities are bearer bonds.
BECCS means the Treasury's Bearer Corpora Conversion System.
BECCS security means a United States Treasury bearer security converted to book-entry form and held in BECCS.
Callable means a United States Treasury security subject to call before maturity.
Callable Coupons means the coupons associated with a callable security that are due after the date the security is subject to call.
Conversion, as used in this part, means a change in the form of a security from definitive form to book-entry form.
Corpus (plural corpora) means the principal portion of a United States Treasury bearer security.
Coupon means a definitive bearer interest instrument associated with a United States Treasury bearer security.
CUBES means the Treasury's Coupon Under Book-Entry Safekeeping program.
CUBES security means a definitive coupon detached from a United States Treasury security and held in CUBES.
Definitive security means a security held in paper form.
Depository institution means:
(1) Any insured bank, mutual savings bank, or savings bank as defined in 12 U.S.C. 1813, or any institution eligible to become an insured bank under 12 U.S.C. 1815;
(2) Any insured credit union as defined in 12 U.S.C. 1752, or any credit union eligible to become an insured credit union under 12 U.S.C. 1781;
(3) Any member as defined in 12 U.S.C. 1422; and
(4) Any savings association as defined in 12 U.S.C. that is an insured depository institution as defined in the Federal Deposit Insurance Act, 12 U.S.C. 1811 et seq., or is eligible to become an insured depository institution under that Act.
Non-callable means a United States Treasury bearer security not subject to call before maturity.
Non-callable coupons means coupons associated with a non-callable bearer security or coupons associated with a callable bearer security that are due on or before the date on which the callable bearer security is subject to call.
Non-transferable means the ownership of a security held in BECCS or CUBES may not be transferred. See Sec. 358.5.
Transferable means the ownership of a security held in BECCS or CUBES may be transferred. See Sec. 358.4 of this part.
We (or ``us'') refers to the Secretary of the Treasury and the Secretary's delegates at the Treasury Department and the Bureau of the Fiscal Service. The term also extends to any fiscal or financial agent we designate to act on behalf of the United States.