The emergency procedures are effective immediately for paying agents and owners in those areas of California affected by the Pacific Northwest Floods. These procedures will remain in effect through February 28, 1997. 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.
California counties involved are Alpine, Amador, Butte, Calaveras, Colusa, Del Norte, El Dorado, Glenn, Humboldt, Lake, Lassen, Madera, Mendocino, Modoc, Mono, Monterey, Napa, Nevada, Placar, Plumas, Sacramento, San Benito, San Joaquin, San Mateo, Santa Cruz, Shasta, Sierra, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tuolumne, Yolo, and Yuba. 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 o wners should complete form PD-1048, available at most financial institutions or the Federal Reserve Bank. Bond owners should include as much information as possible about the lost bonds on the form.