Just as STRIPS allow for the separation of a treasury bond into individual components, there's also a process to reassemble these components back into the original bond. This reassembly process is essential to the STRIPS program as it ensures pricing consistency between the STRIPS and the original coupon bond. By allowing reassembly, the treasury ensures that investors can move between the stripped and original versions of the bond without any loss or gain in value, keeping the market efficient and flexible. Let's look at how this works. First, a bank must acquire all individual STRIPS that were originally created from a specific bond. This means obtaining each separated coupon payment and the principal payment associated with that bond. Once the bank has gathered all necessary STRIPS, it submits a reassembly request to the Federal Reserve. This request is the formal step to initiate the reconstitution process. The Federal Reserve then verifies and processes the request. Upon successful verification, the individual STRIPS are officially reconstituted back into the original treasury security, effectively transforming them from a series of zero coupon bonds back into a single coupon bearing bond. Finally, the original bonds CUSIP, a unique identifier for securities is reinstated. This newly reconstituted bond appears as a standard treasury security in the US Treasury's book entry system, rather than a separate STRIPS components.