[Federal Register Volume 66, Number 207 (Thursday, October 25, 2001)]
[Notices]
[Page 54060]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-26926]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Treasury Current Value of Funds Rate

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Notice of rate for use in Federal debt collection and discount 
and rebate evaluation.

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SUMMARY: Pursuant to Section 11 of the Debt Collection Act of 1982 (31 
U.S.C. 3717), the Secretary of the Treasury is responsible for 
computing and publishing the percentage rate to be used in assessing 
interest charges for outstanding debts on claims owed the Government. 
Treasury's Cash Management Regulations (I TFM 6-8000) prescribe use of 
this rate by agencies as a comparison point in evaluating the cost-
effectiveness of a cash discount. In addition, 5 CFR part 1315.8 of the 
Prompt Payment rule on ``Rebates'' requires that this rate be used in 
determining when agencies should pay purchase card invoices when the 
card issuer offers a rebate. Notice is hereby given that the applicable 
rate is 5 percent for calendar year 2002.

DATES: The rate will be in effect for the period beginning on January 
1, 2002 and ending on December 31, 2002.

FOR FURTHER INFORMATION CONTACT: Inquiries should be directed to the 
Risk Management Division, Financial Management Service, Department of 
the Treasury, 401 14th Street, SW, Washington, DC 20227 (Telephone: 
202) 874-6650).

SUPPLEMENTARY INFORMATION: The rate reflects the current value of funds 
to the Treasury for use in connection with Federal Cash Management 
systems and is based on investment rates set for purposes of Pub. L. 
95-147, 91 Stat. 1227. Computed each year by averaging investment rates 
for the 12-month period ending, every September 30 for applicability 
effective January 1, the rate is subject to quarterly revisions if the 
annual average, on a moving basis, changes by 2 per centum. The rate is 
effect for the calendar year 2002 reflects the average investment rates 
for the 12-month period that ended September 30, 2001.

    Dated: October 16, 2001.
Bettsy H. Lane,
Assistant Commissioner, Federal Finance.
[FR Doc. 01-26926 Filed 10-24-01; 8:45 am]
BILLING CODE 4810-35-M