Treasury Secretary Paul H. O' Neill Launches Greater New York Savings Bonds Campaign

Apr 20, 2001, 01:00 ET from Greater New York Savings Bonds Committee

    NEW YORK, April 20 /PRNewswire Interactive News Release/ -- Treasury
 Secretary Paul O'Neill launched the 2001 Greater New York savings bonds
 campaign today in a luncheon address to 350 business and community leaders at
 The New York Hilton. Ivan Seidenberg, President and Co-Chief Executive Officer
 of Verizon Communications, who Chairs the Greater New York Savings Bonds
 Committee hosted the event. Some 57 Tri-state area business, banking,
 government, labor and media leaders serve on the committee to encourage
 increased personal savings and educate the public about U.S. Savings Bonds.
 The Tri-state area leads the U.S. in purchases of savings bonds -- accounting
 for nearly 20 percent of bond sales nationwide.
     Mr. Seidenberg serves, along with 32 leaders from the public and private
 sectors, on the national U.S. Savings Bonds Volunteer Committee led by Richard
 L. Carrion, Chairman, President and CEO of Banco Popular. Mr. Carrion also
 spoke at the event.
     The Treasury's newest security, the inflation-indexed Series I Bond offers
 investors a guaranteed real rate of return over inflation. Financial experts
 have noted the importance of inflation-indexed investments because they serve
 as portfolio protectors and protect the "savings" portion of an investor's
 portfolio. Now, all U.S. investors can benefit from safety and an
 inflation-hedge in their personal financial strategies
     I Bonds are sold at face value and they grow in value with
 inflation-indexed earnings for up to 30 years. The I Bond earnings rate is a
 combination of two separate rates: a fixed rate of return, which remains the
 same throughout the life of the bond and a variable semi-annual inflation rate
 based on changes in the Consumer Price Index for all urban consumers (CPI-U)
 announced every six months. The earnings rate for I Bonds purchased through
 April 30 is 6.49 percent.
     I Bonds are available through financial institutions, payroll savings
 plans, and over the Internet at http://www.savingsbonds.gov. Treasury also
 offers I Bonds through its EasySaver program where customers can buy bonds by
 authorizing a regular charge to a checking or savings account.
 
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SOURCE Greater New York Savings Bonds Committee
    NEW YORK, April 20 /PRNewswire Interactive News Release/ -- Treasury
 Secretary Paul O'Neill launched the 2001 Greater New York savings bonds
 campaign today in a luncheon address to 350 business and community leaders at
 The New York Hilton. Ivan Seidenberg, President and Co-Chief Executive Officer
 of Verizon Communications, who Chairs the Greater New York Savings Bonds
 Committee hosted the event. Some 57 Tri-state area business, banking,
 government, labor and media leaders serve on the committee to encourage
 increased personal savings and educate the public about U.S. Savings Bonds.
 The Tri-state area leads the U.S. in purchases of savings bonds -- accounting
 for nearly 20 percent of bond sales nationwide.
     Mr. Seidenberg serves, along with 32 leaders from the public and private
 sectors, on the national U.S. Savings Bonds Volunteer Committee led by Richard
 L. Carrion, Chairman, President and CEO of Banco Popular. Mr. Carrion also
 spoke at the event.
     The Treasury's newest security, the inflation-indexed Series I Bond offers
 investors a guaranteed real rate of return over inflation. Financial experts
 have noted the importance of inflation-indexed investments because they serve
 as portfolio protectors and protect the "savings" portion of an investor's
 portfolio. Now, all U.S. investors can benefit from safety and an
 inflation-hedge in their personal financial strategies
     I Bonds are sold at face value and they grow in value with
 inflation-indexed earnings for up to 30 years. The I Bond earnings rate is a
 combination of two separate rates: a fixed rate of return, which remains the
 same throughout the life of the bond and a variable semi-annual inflation rate
 based on changes in the Consumer Price Index for all urban consumers (CPI-U)
 announced every six months. The earnings rate for I Bonds purchased through
 April 30 is 6.49 percent.
     I Bonds are available through financial institutions, payroll savings
 plans, and over the Internet at http://www.savingsbonds.gov. Treasury also
 offers I Bonds through its EasySaver program where customers can buy bonds by
 authorizing a regular charge to a checking or savings account.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X11313523
 
 SOURCE  Greater New York Savings Bonds Committee