[Federal Register Volume 59, Number 26 (Tuesday, February 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2840]


[[Page Unknown]]

[Federal Register: February 8, 1994]


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DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 348

[Department of the Treasury Circular, Public Debt Series No. 21-75]

 

Regulations Governing 2-Percent Depository Bonds

AGENCY: Bureau of the Public Debt, Fiscal Service, Department of the 
Treasury.

ACTION: Final rule.

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SUMMARY: This final rule is being published to terminate the offering 
of 2-Percent Depository Bonds and amend by removal Part 348 from Title 
31 of the CFR, effective immediately.

EFFECTIVE DATE: February 8, 1994.

FOR FURTHER INFORMATION CONTACT: Fred A. Pyatt, Director, Division of 
Special Investments, Bureau of the Public Debt, on (304) 480-7752.

SUPPLEMENTARY INFORMATION: Department of the Treasury Circular, Public 
Debt Series No. 21-75, dated July 10, 1975, provides for the offering 
and issuance of 2-Percent Depository Bonds.
    Two Percent Depositary Bonds are acceptable to secure deposits of 
Federal funds with, and the faithful performance of duties by, 
depositaries and financial agents, as designated in Part 348. The bonds 
have been offered to such depositaries and financial agents in an 
amount not to exceed the amount of their qualification.
    All outstanding 2-Percent Depositary Bonds have been redeemed by 
the Department of the Treasury. Depositaries and financial agents are 
receiving payments for expenses incurred in handling Federal funds 
through arrangements not involving 2-Percent Depositary Bonds. The 
offering of 2-Percent Depositary Bonds will terminate effective upon 
publication of this rule in the Federal Register.
    Because all outstanding 2-Percent Depositary Bonds have been 
redeemed, part 348, which governs these securities, is unnecessary and, 
therefore, should be removed from title 31 of the CFR concurrent with 
termination of the offering.
    Special Analysis: Because this amendment relates to the terms and 
conditions of special purpose Treasury securities, the notice and 
public procedures, and the delayed effective date requirements of the 
Administrative Procedure Act (5 U.S.C. 553(a)(2)) are inapplicable. It 
has been determined that the rule does not constitute a ``significant 
regulatory action'' for purposes of Executive Order No. 12688. Because 
no notice of proposed rulemaking is required, the provisions of the 
Regulatory Flexibility Act (5 U.S.C. 601, et seq.) do not apply to this 
rule.

List of Subjects in 31 CFR Part 348

    Banks, Banking, Bonds, Electronic funds transfer, Government 
securities.

    Accordingly, 31 CFR part 348 is amended as follows:

Part 348--[Removed]

    1. Part 348 is removed.

    Dated: January 26, 1994.
Gerald Murphy,
Fiscal Assistant Secretary.
[FR Doc. 94-2840 Filed 2-17-94; 8:45 am]
BILLING CODE 4810-M