[Federal Register Volume 66, Number 216 (Wednesday, November 7, 2001)]
[Notices]
[Pages 56380-56381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-27780]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Fee Schedule for the Transfer of U.S. Treasury Book-Entry 
Securities Held on the National Book-Entry System

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

ACTION: Notice.

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SUMMARY: The Department of the Treasury is announcing a new fee 
schedule for the transfer of book-entry securities maintained on the 
National Book-Entry System (NBES). This fee schedule will take effect 
on January 2, 2002. The basic fee for the transfer of a Treasury book-
entry security will be $.49, a 22 percent fee reduction from CY 2001. 
Concurrent with Treasury's fee reduction, the Federal Reserve will be 
decreasing the fee for the movement of funds by $.01. These changes 
will result in a combined fee of $.55 for a Treasury security transfer. 
This represents a $.15 fee reduction from CY 2001.
    In addition to the basic fee, off-line transfers have a surcharge. 
The surcharge for an off-line Treasury book-entry transfer in CY 2002 
will continue to be $25.00, unchanged from CY 2001.

EFFECTIVE DATE: January 2, 2002.

FOR FURTHER INFORMATION CONTACT:

Edward C. Leithead, Director, Primary & Secondary Market Fixed Income 
Securities (Financing), Bureau of the Public Debt, Suite 3014, 26 
Federal Plaza, New York, NY 10278, telephone (212) 264-6358.
Diane M. Polowczuk, Associate Director (Financing), Bureau of the 
Public Debt, Room 510, 999 E Street NW., Washington, DC 20239-0001, 
telephone (202) 691-3550.

SUPPLEMENTARY INFORMATION. On October 1, 1985, the Department of the 
Treasury established a fee structure for the transfer of Treasury book-
entry securities maintained on NBES.
    Based on the latest review of book-entry costs and volumes, 
Treasury will decrease its basic fee from the levels currently in 
effect. Effective January 2, 2002, the basic fee will be $.49 for each 
Treasury securities transfer and reversal sent and received, a 22 
percent fee reduction from CY 2001. The current off-line surcharge will 
remain $25.00, unchanged from CY 2001.
    The basic transfer fee assessed to both sends and receives is 
reflective of costs associated with the processing of a security 
transfer. The off-line surcharge reflects the additional processing 
costs associated with off-line securities transfers.
    The Treasury does not charge a fee for account maintenance, the 
stripping and reconstituting of Treasury securities, or for wires 
associated with original issues, or interest and redemption payments. 
The Treasury currently absorbs these costs and will continue to do so.
    The fees described in this notice apply only to the transfer of 
Treasury book-entry securities held on NBES. The Federal Reserve System 
assesses a fee to recover the costs associated with the processing of 
the funds component of Treasury book-entry transfer messages, as well 
as the costs of providing book-entry services for government agencies 
on NBES. Information concerning book-entry transfers of government 
Agency securities, which are priced by the Federal Reserve System, is 
set out in a separate Federal Register notice published by the Board of 
Governors of the Federal Reserve System on November 7, 2001 (Docket No. 
R-1115).
    The following is the Treasury fee schedule that will take effect on 
January 2, 2002, for the book-entry transfers on NBES:

                                          Treasury-NBES Fee Schedule\1\
                                    [Effective January 2, 2002 (In Dollars)]
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                                                                                           Funds\2\
                          Transfer type                            Basic fee   Off-line    movement    Total fee
                                                                               surcharge      fee
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On-line transfer originated.....................................         .49         .00         .06         .55
On-line transfer received.......................................         .49         .00         .06         .55
On-line reversal transfer originated............................         .49         .00         .06         .55
On-line reversal transfer received..............................         .49         .00         .06         .55
Off-line transfer originated....................................         .49       25.00         .06       25.55
Off-line transfer received......................................         .49       25.00         .06       25.55
Off-line account switch received................................         .49         .00         .06         .55
Off-line reversal transfer originated...........................         .49       25.00         .06       25.55

[[Page 56381]]

 
Off-line reversal transfer received.............................         .49       25.00         .06       25.55
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\1\ The Treasury does not charge a fee for account maintenance, the stripping and reconstituting of Treasury
  securities, or the wires associated with original issues, or interest and redemption payments. The Treasury
  currently absorbs these costs and will continue to do so.
\2\ The funds movement fee is not a Treasury fee, but is charged by the Federal Reserve for the cost of moving
  funds associated with the transfer of a Treasury book-entry security.


    Authority: 31 CFR 357.45

    Dated: October 30, 2001.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 01-27780 Filed 11-6-01; 8:45 am]
BILLING CODE 4810-35-P