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Bureau of the Public Debt Aids Savings Bonds Owners Affected by Flooding in North Carolina


February 12, 1998

The Bureau of Public Debt took action to assist victims of flooding in North Carolina by expediting the replacement or payment of United States Savings Bonds for owners in the affected areas. The emergency procedures are effective immediately for paying agents and owners in those areas of North Carolina affected by the storms. These procedures will remain in effect through March 31, 1998.

Public Debt's action waives the normal six-month minimum holding period for Series EE savings bonds presented to authorized paying agents for redemption by residents of the affected area. Most financial institutions serve as paying agents for savings bonds.

North Carolina counties involved are Mitchell and Avery. Should additional counties be declared disaster areas the emergency procedures for savings bonds owners will go into effect for those areas.

The replacement of bonds lost or destroyed will also be expedited by Public Debt. Bond owners should complete form PD-1048, available as a download from Public Debt's website at:, at most financial institutions, or by writing the Richmond Federal Reserve Bank's Savings Bond Customer Service Department, 701 East Byrd Street, Richmond, VA 23219; phone (804) 697-8000. Bond owners should include as much information as possible about the lost bonds on the form. This information should include how the bonds were inscribed, social security number, approximate dates of issue, bond denominations and serial numbers if available. The completed form must be certified by a notary public or an officer of a financial institution. Completed forms should be forwarded to Public Debt's Savings Bond Operations Office located at 200 Third St., Parkersburg, WV 26106-1328. Bond owners should write the word "Floods" on the front of their envelopes to help expedite the processing of claims.