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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (88280)	1/11/2001 1:36:55 PM
From: Joan Osland Graffius	Respond to of 132070

marginmike, >>I dont understand is that a merril account? or afed account? It is both. You set up an account with the Fed and you are part of the auction for the bond, note, bill, etc. I use my Merrill Lynch CMA account to electronically pay for the assets, since you do not know prior to the auction exactly how much you will pay. Of course you can do this by check and they will send the moneys not used back to you by check. Any way, I sat down with my broker and set up a process so they will accept the assets from the Fed in my Merrill Lynch account and are held there until I wish to sell or it matures. I did this because I do not have to mess with any paper and the system works great and does not cost me a cent. Joan