U.S. TO MAKE SAVINGS BONDS AVAILABLE ON NET.Byline: Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. With a few clicks of a computer mouse, Americans will for the first time be able to buy U.S. Savings Bonds Savings bond A government bond issued in face value denominations from $50 to $10,000, with local and state tax-free interest and semiannually adjusted interest rates. savings bond A nonmarketable security issued by the U.S. directly from the government over the Internet. The government is setting up an Internet site called the Savings Bond Connection, which will let people buy savings bonds online 24 hours a day, seven days a week. The Internet site, expected to be operating on Tuesday, is the latest step by the Clinton administration Noun 1. Clinton administration - the executive under President Clinton executive - persons who administer the law to make savings bonds easier to buy and a more attractive investment for Americans. Treasury Secretary Lawrence Summers Lawrence Henry "Larry" Summers (born November 30, 1954) is an American economist and academic. He is the 1993 recipient of the John Bates Clark Medal for his work in macroeconomics, was Secretary of the Treasury for the last year and a half of the Bill Clinton administration, and plans to unveil the Web site at a news conference today. A child's computer-saavy grandparents grandparents npl → abuelos mpl grandparents grand npl → grands-parents mpl grandparents grand npl are expected to make the first online purchase, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Treasury officials, who spoke on condition of anonymity. To purchase savings bonds online, consumers will go to www.savingsbonds.gov and link to a page to conduct a transaction, officials said. Online buyers will provide information, including name, Social Security number and mailing address, just as they do when they purchase bonds from banks and other financial institutions. Bonds bought on the Internet must be purchased by credit card. For now, only MasterCard and Visa will be accepted, the Treasury officials said. After orders are processed, bonds are mailed to buyers. The traditional Series EE bonds, which sell for half their face value, will be available in denominations ranging from $50 to $500. Series I bonds, which carry a lower interest rate, but are adjusted to reflect inflation, also will be sold in $50 to $500 denominations. Approximately 55 million Americans own savings bonds worth $185 billion. |
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