CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY (parts 200 to 391) > SUBCHAPTER B—BUREAU OF THE PUBLIC DEBT (parts 306 to 391) > PART 315—REGULATIONS GOVERNING U.S. SAVINGS BONDS, SERIES A, B, C, D, E, F, G, H, J, AND K, AND U.S. SAVINGS NOTES > SUBPART D—Limitations on Transfer or Pledge (§315.15 to §315.16) > 315.16—Pledge.

315.16—Pledge.

(a) General. A savings bond may not be hypothecated, pledged, or used as security for the performance of an obligation, except as provided in paragraph (b) of this section.
(b) Pledge under Treasury Circular No. 154. A bond may be pledged by the registered owner in lieu of surety under the provisions of Department of the Treasury Circular No. 154, current revision ( 31 CFR part 225 ), if the bond approving officer is the Secretary of the Treasury. In this case, an irrevocable power of attorney shall be executed authorizing the Secretary of the Treasury to request payment.