Business and Personal Finance Dictionary

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• TREASURY DIRECT
  
  This direct investment system, offered through the Federal Reserve banks and their branches, lets you make noncompetitive bids for US Treasury bills, notes, and bonds. Once you open a Treasury Direct account, you can buy, sell, or roll over your investments by mail, telephone, or online, avoiding the expense of buying and selling through a bank or brokerage firm. Interest paid on your investments, and the value of any securities you redeem at maturity, are deposited directly into your bank account.
  
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