[Federal Register Volume 63, Number 251 (Thursday, December 31, 1998)]
[Notices]
[Pages 72346-72347]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-34492]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Fiscal Service


Renegotiation Board Interest Rate; Prompt Payment Interest Rate; 
Contract Disputes Act

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

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: For the period beginning January 1, 1999 and ending on June 
30, 1999, the prompt payment interest rate is 5% (five) per centum per 
annum.

DATES: This notice announces the interest rate applicable for the 
January 1, 1999 to June 30, 1999 period.

ADDRESSES: Comments or inquiries may be mailed to Cynthia S. Winters, 
Team Leader, Debt Accounting Branch, Office of Public Debt Accounting, 
Bureau of the Public Debt, Parkersburg, West Virginia, 26106-1328. A 
copy of this Notice will be made available for downloading from the 
http://www.publicdebt.treas.gov.

FOR FURTHER INFORMATION CONTACT: Stephanie E. Brown, Director, Division 
of Accounting Operations, Office of Public Debt Accounting, Bureau of 
the Public Debt, Parkersburg, West Virginia, 26106-1328, (304) 480-
5180, Cynthia S. Winters, Team Leader, Debt Accounting Branch, Office 
of Public Debt Accounting, Bureau of the Public Debt, (304) 480-5174, 
Edward C. Gronseth, Deputy Chief Counsel, Office of the Chief Counsel, 
Bureau of the Public Debt, (304) 480-3692, or Brenda L. Hoffman, 
Attorney-Adviser, Office of the Chief Counsel, Bureau of the Public 
Debt, (304) 480-3698.

SUPPLEMENTARY INFORMATION: Although the Renegotiation Board is no 
longer in

[[Page 72347]]

existence, other Federal Agencies are required to use interest rates 
computed under the criteria established by the Renegotiation Act of 
1971 Sec. 2, Pub. L. 92-41, 85 Stat. 97.
    For example, the Contract Disputes Act of 1978 Sec. 12, Pub. L. 95-
563, 92 Stat. 2389 and the Prompt Payment Act of 1982 Sec. 2, Pub. L. 
97-177, 96 Stat. 85 provide for the calculation of interest due on 
claims at a rate established by the Secretary of the Treasury pursuant 
to 31 U.S.C. 3902(a).
    Therefore, notice is hereby given that, pursuant to the above 
mentioned sections, the Secretary of the Treasury has determined that 
the rate of interest applicable for the purpose of said sections, for 
the period beginning January 1, 1999 and ending on June 30, 1999, is 
five per centum per annum.

    Dated: December 22, 1998.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 98-34492 Filed 12-30-98; 8:45 am]
BILLING CODE 4810-39-P