[Federal Register Volume 66, Number 216 (Wednesday, November 7, 2001)]
[Notices]
[Pages 56380-56381]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 01-27780]
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DEPARTMENT OF THE TREASURY
Fiscal Service
Fee Schedule for the Transfer of U.S. Treasury Book-Entry
Securities Held on the National Book-Entry System
AGENCY: Bureau of the Public Debt, Fiscal Service, Department of the
Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury is announcing a new fee
schedule for the transfer of book-entry securities maintained on the
National Book-Entry System (NBES). This fee schedule will take effect
on January 2, 2002. The basic fee for the transfer of a Treasury book-
entry security will be $.49, a 22 percent fee reduction from CY 2001.
Concurrent with Treasury's fee reduction, the Federal Reserve will be
decreasing the fee for the movement of funds by $.01. These changes
will result in a combined fee of $.55 for a Treasury security transfer.
This represents a $.15 fee reduction from CY 2001.
In addition to the basic fee, off-line transfers have a surcharge.
The surcharge for an off-line Treasury book-entry transfer in CY 2002
will continue to be $25.00, unchanged from CY 2001.
EFFECTIVE DATE: January 2, 2002.
FOR FURTHER INFORMATION CONTACT:
Edward C. Leithead, Director, Primary & Secondary Market Fixed Income
Securities (Financing), Bureau of the Public Debt, Suite 3014, 26
Federal Plaza, New York, NY 10278, telephone (212) 264-6358.
Diane M. Polowczuk, Associate Director (Financing), Bureau of the
Public Debt, Room 510, 999 E Street NW., Washington, DC 20239-0001,
telephone (202) 691-3550.
SUPPLEMENTARY INFORMATION. On October 1, 1985, the Department of the
Treasury established a fee structure for the transfer of Treasury book-
entry securities maintained on NBES.
Based on the latest review of book-entry costs and volumes,
Treasury will decrease its basic fee from the levels currently in
effect. Effective January 2, 2002, the basic fee will be $.49 for each
Treasury securities transfer and reversal sent and received, a 22
percent fee reduction from CY 2001. The current off-line surcharge will
remain $25.00, unchanged from CY 2001.
The basic transfer fee assessed to both sends and receives is
reflective of costs associated with the processing of a security
transfer. The off-line surcharge reflects the additional processing
costs associated with off-line securities transfers.
The Treasury does not charge a fee for account maintenance, the
stripping and reconstituting of Treasury securities, or for wires
associated with original issues, or interest and redemption payments.
The Treasury currently absorbs these costs and will continue to do so.
The fees described in this notice apply only to the transfer of
Treasury book-entry securities held on NBES. The Federal Reserve System
assesses a fee to recover the costs associated with the processing of
the funds component of Treasury book-entry transfer messages, as well
as the costs of providing book-entry services for government agencies
on NBES. Information concerning book-entry transfers of government
Agency securities, which are priced by the Federal Reserve System, is
set out in a separate Federal Register notice published by the Board of
Governors of the Federal Reserve System on November 7, 2001 (Docket No.
R-1115).
The following is the Treasury fee schedule that will take effect on
January 2, 2002, for the book-entry transfers on NBES:
Treasury-NBES Fee Schedule\1\
[Effective January 2, 2002 (In Dollars)]
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Funds\2\
Transfer type Basic fee Off-line movement Total fee
surcharge fee
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On-line transfer originated..................................... .49 .00 .06 .55
On-line transfer received....................................... .49 .00 .06 .55
On-line reversal transfer originated............................ .49 .00 .06 .55
On-line reversal transfer received.............................. .49 .00 .06 .55
Off-line transfer originated.................................... .49 25.00 .06 25.55
Off-line transfer received...................................... .49 25.00 .06 25.55
Off-line account switch received................................ .49 .00 .06 .55
Off-line reversal transfer originated........................... .49 25.00 .06 25.55
[[Page 56381]]
Off-line reversal transfer received............................. .49 25.00 .06 25.55
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\1\ The Treasury does not charge a fee for account maintenance, the stripping and reconstituting of Treasury
securities, or the wires associated with original issues, or interest and redemption payments. The Treasury
currently absorbs these costs and will continue to do so.
\2\ The funds movement fee is not a Treasury fee, but is charged by the Federal Reserve for the cost of moving
funds associated with the transfer of a Treasury book-entry security.
Authority: 31 CFR 357.45
Dated: October 30, 2001.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 01-27780 Filed 11-6-01; 8:45 am]
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