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Pricing Error Adjustment (PEA)

ITYP Description | Proper Usage

A Pricing Error Adjustment (PEA) will be initiated by the Federal Reserve at the behest of the Bureau of the Fiscal Service (Fiscal Service) (formerly the Bureau of the Public Debt (BPD)) when Fiscal Service determines that a bond was redeemed for the incorrect amount or that the bond was processed for the incorrect amount, subject to standard adjustment minimum amount requirements. This investigation type is reserved for Federal Reserve Bank use only.

Disputes Regarding Adjustments

If you dispute the Fiscal Service’s determination of errors, you may submit an Entry in Error (ERR) adjustment request to the Federal Reserve. The Federal Reserve will contact Fiscal Service on your behalf and will either respond with a correcting adjustment entry or with additional information upon completion of research by Fiscal Service staff. Any further disputes after the completion of the ERR process will require direct communication with Fiscal Service.

Pricing or Amount Errors Identified by Your Institution – Your Action

If you identify pricing errors or errors in the amounts submitted for processing, you should not submit adjustment requests to the Federal Reserve within the first two weeks after deposit to avoid crossing adjustments with those that will be initiated by Fiscal Service. If, after two weeks, a correcting PEA is not received, you may submit requests for adjustments using the ERR investigation type with a product type of Savings Bond (SBD) and Entry Type (ETYP) of Request for Information (RFI). Write PEA in the Receiver’s Reference (RREF) field (required field for ERR). Standard adjustment minimum amount requirements apply.

Small Dollar Pricing or Amount Errors

The Bureau of Fiscal Service (Fiscal Service) handles adjustments for payment errors in amounts of $25.00 and less. To receive credit, you must furnish the following information to the Fiscal Service:

Bond Series
Bond Serial Number
Bond Denomination
Payment Date (the date the bond was paid at the Financial Institution)
Reported Payment Amount (the amount your Financial Institution paid to the customer/payee)
Computed Payment Amount (the amount that should have been paid to the customer/payee)
A contact name and phone number for your Financial Institution

Note: In order to confirm the correct redemption value, provide the actual date payment was made by your institution, as well as the date the bond was deposited with the Federal Reserve, if those dates are not the same.

In order to comply with a Treasury-wide policy to make the disbursement of Federal payments more efficient and cost effective, the Fiscal Service has adopted a “No-Check” payment policy. You will need to provide the necessary Automated Clearing House (ACH) information so that Fiscal Service can disburse your payment through an ACH transaction.

Note: Fiscal Service cannot use your reserve account at your Federal Reserve Bank for this payment.

Please provide the following information along with the documentation submitted:

Account Number
Type of Account (Checking, Savings)
Bank Routing Number
Bank Phone Number
Financial Institution Name

Please include customer number 0002441841S on your documents, faxes, or emails.

You may submit your request by FAX to F: (612) 629-4285.

As an alternative, you may mail the information to:

Treasury Retail Securities Site
P.O. Box 9150
Minneapolis, MN 55480

You may send your message un-encrypted to Savbond.Resolutions@fiscal.treasury.gov. The above requested information must be provided in your email in order for Fiscal Service to assist you.

Due to security protocol, Fiscal Service is unable to open encrypted messages or messages delivered by a third party encryption method.

For more information about check adjustment services, visit the Check Adjustments Services page.

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