Schwab is using the float on my US Treasure again...

C

Cabin1111

It matured on Saturday...I don't think it will post till Tuesday. It wasn't even thrown into Schwab Bank (earning diddly/squat)!!

I have to be on top of these treasuries because of the float. I think Schwab does this with their CDs also...Maturing on a Saturday.

I am losing more and more trust in this company...

All my other treasures mature on a Thursday now...But I have to be on top of them.

At Fidelity, if something matures...Bam, straight into a money market fund earning about 5% give or take.

Live and learn...I also own 100 shares in Schwab. I like their dividends, but they are sneaky blokes!!
 
Treasury bills mature on Tuesday and Thursday. Coupon securities can mature on ANY day of the week on the 15 mid month or at monthend. On a Saturday maturity the Treasury pays coupon interest and principal repayment on the next business day so for August maturities payment will be Tuesday September 3. Normally Treasury securities that mature on nonbusiness days have a higher yield vs normal business day maturities. This yield differential is to makeup for the zero return on funds during the holiday period.
 
From the Schwab website of my account...Copy and paste.

Coupon Frequency
Semi-annually

Security Type
U.S. Treasuries

Maturity Date
08/31/2024

Maybe just the luck of the draw that it matured on a Saturday, before a three day holiday.

So you are saying the US Treasure has not released the funds at this time??

I do not have access to it at this time...I want to grab the money for general living expenses. I don't need it right away...But would have liked for it to be available, to put a check in the mail on Saturday...Not Tuesday/Wednesday!!
 
When you purchase treasuries outright you can review the maturity date and confirm the date you prefer to have principal repayment. Since Bills mature on Tuesday or Thursday normally they are a bit easier to manage maturities and reinvestments.
 
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