Since 1917 the US Treasury sold Bonds as a way to generate a cash flow to help fund the expenses that the government was accruing. At this point the US Treasury has issued savings bonds series starting with the letter A and they currently have the I Bond Series available for sale.
With each new bond series comes a change of the Treasury Rules on the bonds. Each bond is developed for a different time and reason so no two are exactly alike. Then sometimes during the lifetime of a bond the government may issue additional revision. There is no set schedule for when the Treasury changes the rules on bonds.
One of the most recent changes the Treasury issued was on the Series EE Savings Bond. Since their original introduction in 1982 the Series EE Savings Bonds had been earning an interest rate that was adjusted every six months and was pegged to 90% of the average 5-year Treasury note yield in the prior 6 months. However, the last Treasury Bill Change revised the yield for bonds issued after May 1, 2005 to provide a fixed rate for the lifetime of the Bonds up to 30 years.
Although there are no immediate changes scheduled for Treasury Bonds, just recently the National Association of Bond Lawyers requested some adjustments to the current Bond laws. They feel the changes are required because of the current market conditions.
Semi annually the Treasury Department announces its current interest rates for all the bonds held till maturity. The May 1 and November 1 announcements should not be confused with a Treasury Change of the Rules on Bonds, as the rates get adjusted in direct correlation with the Consumer Price Index. These fluctuations are already part of the original rules.
