[Federal Register Volume 61, Number 166 (Monday, August 26, 1996)]
[Rules and Regulations]
[Pages 43656-43657]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21546]


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DEPARTMENT OF THE TREASURY
Fiscal Service

31 CFR Part 214

RIN 1510-AA54


Depositaries for Federal Taxes

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Final rule.

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SUMMARY: This action removes Part 214 from Title 31 of the Code of 
Federal Regulations. Part 214 governed the designation of financial 
institutions as depositaries for Federal taxes and the handling of 
deposits of Federal taxes by such depositaries and by Federal Reserve 
Banks. A Notice of Proposed Rule Making published October 27, 1992, 
proposed to combine portions of this part with 31 CFR Part 203 
``Treasury Tax and Loan Depositaries'' and to eliminate Part 214. 
Regulations published on July 1, 1993, incorporated the relevant 
provisions of Part 214 into Part 203. Part 214 should have been removed 
at that time. This action corrects that oversight.

EFFECTIVE DATE: September 25, 1996.

ADDRESS: Cash Management Policy and Planning Division, Financial 
Management Service, U.S. Department of the Treasury, Room 420, Liberty 
Center, 401 14th Street, S.W., Washington, DC 20227.

FOR FURTHER INFORMATION CONTACT: Donald E. Clark (202) 874-7106 
(Financial Program Specialist).

SUPPLEMENTARY INFORMATION:

Background

    On October 27, 1992, the Fiscal Service published a Notice of 
Proposed Rule Making to remove Part 214 and to revise sections of Part 
203 of Title 31 of the Code of Federal Regulations. No comments on the 
proposed rule were received. Accordingly, on July 1, 1993, portions of 
this regulation were incorporated into Part 203 ``Treasury Tax and Loan 
Depositaries.'' (58 FR 35395). Part 214 should have been removed at 
that time. This action rectifies that oversight.

Rulemaking Analysis

    Treasury has determined that this regulation is not a significant 
regulatory action as defined in Executive Order 12866. Accordingly, a 
regulatory assessment is not required. It is hereby certified that this 
revision will not have a significant economic impact on a substantial 
number of small entities. Because the provisions of Part 214, here 
being eliminated, are duplicative of those contained in Part 203, there 
will not be a significant economic impact on a substantial number of 
small entities. Accordingly, a regulatory flexibility analysis is not 
required.

List of Subjects in 31 CFR Part 214

    Banks, Banking, Taxes.

    For the reasons set out in the preamble and under the authority of 
31 U.S.C. 321, 31 CFR Part 214 is removed.


[[Page 43657]]


    Dated: August 15, 1996.
Russell D. Morris,
Commissioner.
[FR Doc. 96-21546 Filed 8-23-96; 8:45 am]
BILLING CODE 4810-35-P