31 CFR Part 359, Appendix B
Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
1. What months make up the composite semiannual rate period?
You may use the following table to find when a bond's semiannual rate period begins and when we'll announce the rate that applies during each period.
If your Bond has an issue date of— | Then its semiannual rate period begins— | We announce the rate that applies during a rate period in—
January | January 1 | November 1 (of the previous year).
| July 1 | May 1.
February | February 1 | November 1 (of the previous year).
| August 1 | May 1.
March | March 1 | November 1 (of the previous year).
| September 1 | May 1.
April | April 1 | November 1 (of the previous year).
| October 1 | May 1.
May | May 1 | May 1.
| November 1 | November 1.
June | June 1 | May 1.
| December 1 | November 1.
July | July 1 | May 1.
| January 1 | November 1 (of the previous year).
August | August 1 | May 1.
| February 1 | November 1 (of the previous year).
September | September 1 | May 1
| March 1 | November 1 (of the previous year).
October | October 1 | May 1.
| April 1 | November 1 (of the previous year).
November | November 1 | November 1.
| May 1 | May 1.
December | December 1 | November 1.
| June 1 | May 1.