[Federal Register Volume 62, Number 171 (Thursday, September 4, 1997)]
[Notices]
[Page 46797]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-23570]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Fee Schedule for the Service to the TREASURY DIRECT Investor of 
Selling Securities Held in TREASURY DIRECT Accounts in the Secondary 
Market

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

ACTION: Notice.

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SUMMARY: The Department of the Treasury is announcing the schedule of 
fees to be charged to the TREASURY DIRECT investor for the service of 
selling unmatured securities held in TREASURY DIRECT in the secondary 
market. The service will be provided by a designated Federal Reserve 
Bank acting as fiscal agent of the United States.

EFFECTIVE DATE: September 4, 1997.

FOR FURTHER INFORMATION CONTACT: Richard Koch, Director, Division of 
Customer Service, Bureau of the Public Debt, (304) 480-6748; Susan 
Klimas, Attorney-Adviser, Office of the Chief Counsel, Bureau of the 
Public Debt, (304) 480-5192; Edward C. Gronseth, Deputy Chief Counsel, 
Office of the Chief Counsel, Bureau of the Public Debt, (304) 480-5192.

SUPPLEMENTARY INFORMATION: On September 4, 1997, the Department of the 
Treasury amended the general regulations governing book-entry Treasury 
Bonds, Notes and Bills to offer TREASURY DIRECT investors the service 
of selling their unmatured marketable securities held in their TREASURY 
DIRECT accounts in the secondary market. At the request of the 
investor, the securities will be transferred to the designated Federal 
Reserve Bank, acting as fiscal agent of the United States, to be sold 
on behalf of the investor.
    A transaction fee will be charged for each security sold on behalf 
of the investor. For purposes of computing the transaction fee, a 
security is considered as any amount within a TREASURY DIRECT account 
which is identified by a separate CUSIP number. Thus, if an investor 
has several holdings within a TREASURY DIRECT account of varying 
amounts, but all are identified by the same CUSIP number, and all are 
transferred in one transaction, only one transaction fee will be 
charged, since the holdings are considered as one security. If the 
investor has several holdings within a TREASURY DIRECT account, each 
with a different CUSIP number, then a separate transaction fee will be 
charged for each holding, as each holding with a separate CUSIP number 
is considered a separate security. If an investor has two TREASURY 
DIRECT accounts, and each account has a security with a CUSIP identical 
to the security in the other account, then a separate transaction fee 
will be charged for each security, since each security within each 
account is considered a separate security. If the Federal Reserve Bank 
is unable to complete the sale of the security, no transaction fee will 
be charged. The transaction fee will be deducted from the settlement 
amount by the Federal Reserve Bank.

Schedule of Fees for the Sale of Securities in the Secondary Market

    The fee schedule for the sale of an unmatured security held in 
TREASURY DIRECT by the designated Federal Reserve Bank in the secondary 
market on behalf of the investor is as follows: a fee of $34 will be 
charged for each security held in a TREASURY DIRECT account which is 
sold in the secondary market on behalf of the investor by the 
designated Federal Reserve Bank acting as fiscal agent of the United 
States.

    Dated: August 29, 1997.
Richard L. Gregg,
Commissioner of the Public Debt.
[FR Doc. 97-23570 Filed 9-3-97; 8:45 am]
BILLING CODE 4810-39-M