[Federal Register Volume 68, Number 124 (Friday, June 27, 2003)]
[Notices]
[Page 38423]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-16318]


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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 July 1, 2003. The basic fee for the transfer of a Treasury book-
entry security will be $.21, a 22 percent fee reduction from fees in 
effect since January 2, 2003. The Federal Reserve funds movement fee 
will remain unchanged at $.05. These changes will result in a combined 
fee of $.26 for a Treasury security transfer.
    Off-line transfer fees will remain unchanged.

EFFECTIVE DATE: July 1, 2003.

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.
    John M. Lilly, Financial Systems Analyst, 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.
    Effective July 1, 2003, the basic fee will be $.21 for each 
Treasury securities transfer and reversal sent and received, a 22 
percent fee reduction from fees in effect since January 2, 2003.
    The surcharge for an off-line Treasury book-entry transfer will 
remain unchanged at $25.00.
    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 the manual processing of 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. This fee will remain unchanged from those assessed since 
January 2, 2003.
    The following is the Treasury fee schedule that will take effect on 
July 1, 2003, for the book-entry transfers on NBES:

                              Treasury-NBES Fee Schedule,\1\ Effective July 1, 2003
                                                  [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.................................          .21          .00          .05          .26
On-line transfer received...................................          .21          .00          .05          .26
On-line reversal transfer originated........................          .21          .00          .05          .26
On-line reversal transfer received..........................          .21          .00          .05          .26
Off-line transfer originated................................          .21        25.00          .05        25.26
Off-line transfer received..................................          .21        25.00          .05        25.26
Off-line account switch received............................          .21          .00          .05          .26
Off-line reversal transfer originated.......................          .21        25.00          .05        25.26
Off-line reversal transfer received.........................          .21        25.00          .05       25.26
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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: June 24, 2003.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 03-16318 Filed 6-26-03; 8:45 am]
BILLING CODE 4810-39-P