# 31 CFR § 357.0: Book-entry systems

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-357.0

## Section

- **Citation:** 31 CFR § 357.0
- **Heading:** Book-entry systems
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY > SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE > PART 357—REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT > Subpart A—General Information

## Text

(a) Treasury securities. Treasury securities are maintained in one of the following book-entry systems:
(1) Commercial book-entry system. The commercial book-entry system is the book-entry system in which Treasury securities are held in a tiered system through securities intermediaries such as financial institutions or brokerage firms. A Treasury security is maintained in the commercial book-entry system if it is credited by a Federal Reserve Bank to a Participant's Securities Account. The regulations governing the commercial book-entry system are found at subpart B of this part, and are referred to as Treasury/Reserve Automated Debt Entry System (TRADES).
(2) Legacy Treasury Direct ®. The Legacy Treasury Direct system is a non-Internet-based book-entry system maintained by Treasury for purchasing and holding marketable Treasury securities as book-entry products. A Treasury security is maintained in Legacy Treasury Direct if it is credited to a Legacy Treasury Direct account as described in § 357.20 of this part. Treasury securities are held directly by the Department of the Treasury in accounts maintained in the investor's name. A Legacy Treasury Direct account may be accessed through a designated Federal Reserve Bank or the Bureau of the Fiscal Service. See subpart C of this part for rules pertaining to Legacy Treasury Direct.
(3) TreasuryDirect ®. TreasuryDirect is a book-entry, online system maintained by the Department of the Treasury for purchasing and holding eligible marketable Treasury securities, United States Savings Bonds, and certificates of indebtedness in electronic form as a computer record on the books of Treasury. The regulations governing TreasuryDirect are found at 31 CFR part 363.
(b) Transferability between Legacy Treasury Direct and other systems. A Treasury security maintained in Legacy Treasury Direct may be transferred to an account in TRADES or to an account in TreasuryDirect in accordance with § 357.22(a). Securities may not be transferred to Legacy Treasury Direct from other systems.
[67 FR 64278, Oct. 17, 2002, as amended at 70 FR 57431, Sept. 30, 2005; 70 FR 57441, Sept. 30, 2005; 76 FR 18063, Apr. 1, 2011]

## Nearby sections

- [31 CFR § 357.0 § 357.0 Book-entry systems.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.0.md)
- [31 CFR § 357.1 § 357.1 Effective date.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.1.md)
- [31 CFR § 357.2 § 357.2 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.2.md)
- [31 CFR § 357.10 § 357.10 Laws governing a Treasury book-entry security, TRADES, and security interests or entitlements.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.10.md)
- [31 CFR § 357.11 § 357.11 Laws governing other interests in Treasury securities.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.11.md)
- [31 CFR § 357.12 § 357.12 A Participant's Security Entitlement.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.12.md)
- [31 CFR § 357.13 § 357.13 Obligations of the United States and the Federal Reserve Banks with respect to Book-entry Securities and security interests.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.13.md)
- [31 CFR § 357.14 § 357.14 What authority does a Federal Reserve Bank have?](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.14.md)
- [31 CFR § 357.15 § 357.15 How can a debtor's interest in a Security Entitlement be reached by creditors?](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.15.md)
- [31 CFR § 357.20 § 357.20 Securities account in Legacy Treasury Direct ®.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.20.md)
- [31 CFR § 357.21 § 357.21 Registration.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.21.md)
- [31 CFR § 357.22 § 357.22 Transfers.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.22.md)
- [31 CFR § 357.23 § 357.23 Judicial proceedings—sovereign immunity.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.23.md)
- [31 CFR § 357.24 § 357.24 Availability and disclosure of Legacy Treasury Direct ® records.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.24.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-357.0. Check the current official text before relying on it. Not legal advice.