Monday, February 6, 2023
HomeLife InsuranceTreasury Bought Extra I Bonds In October Than All of 2021

Treasury Bought Extra I Bonds In October Than All of 2021

“Unprecedented quantity put vital stress and pressure on the 20-year-old TreasuryDirect utility. We tripled TreasuryDirect’s capability final week and noticed many shoppers efficiently create accounts and buy bonds at document ranges,” the spokesman mentioned.

“Any extra updates to TreasuryDirect through the last days of the speed window, corresponding to a delay to the Nov. 1 price change, would have posed vital threat to the operational integrity of the system,” he added.

Listed here are the approximate gross sales and new-account statistics for October and final week, the spokesman mentioned Monday. Whereas these figures embody another Treasury securities bought by way of the web site, the “huge, huge, overwhelming majority are I bonds — doubtless upwards of 95%,” he mentioned.

  • Friday: 95,482 new accounts and $994,056,487 in purchases.
  • Final week: 359,822 new accounts and $3,049,007,049 in purchases.
  • October: 731,336 new accounts and $6,948,068,415 in purchases.

“We proceed to work in direction of an up to date, fashionable TreasuryDirect,” the spokesman mentioned.

People might buy as much as $10,000 in digital I bonds per calendar yr by TreasuryDirect and $5,000 in paper bonds per yr by revenue tax refunds. I bonds earn curiosity for 30 years or till cashed. Holders might redeem bonds after 12 months, but when they money them in earlier than 5 years they’ll forfeit the final three months’ curiosity.

Melanie Waddell contributed reporting.


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