[Federal Register Volume 68, Number 208 (Tuesday, October 28, 2003)]
[Notices]
[Pages 61551-61552]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-27125]


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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, 2004. The basic fee for the transfer of a Treasury book-
entry security will be $.21, unchanged from fees in effect since July 
1, 2003. The Federal Reserve funds movement fee will be decreasing from 
$.05 to $.04, resulting in a combined fee of $.25 for each Treasury 
securities transfer.
    In addition to the basic fee, off-line transfers have a surcharge. 
The surcharge for an off-line Treasury book-entry transfer in CY 2004 
will be increasing from $25.00 to $28.00.

EFFECTIVE DATE: January 2, 2004.

FOR FURTHER INFORMATION CONTACT: Edward C. Leithead, Director, Primary 
& Secondary Market Fixed Income Securities (Financing), Bureau of the 
Public Debt, c/o Federal Reserve Bank of New York, 33 Liberty Street, 
New York, NY 10045-0001, telephone (212) 720-2883.
    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 January 2, 2004, the basic fee will be $.21 for each 
Treasury securities transfer and reversal sent and received, unchanged 
from fees in effect since July 1, 2003. The surcharge for an off-line 
Treasury book-entry transfer will increase from $25.00 to $28.00.
    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 or reconstitution of Treasury securities, wires associated 
with original issues, or

[[Page 61552]]

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. 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 elsewhere in this issue by the Board of 
Governors of the Federal Reserve System [Docket OP-1165].
    The following is the Treasury fee schedule that will take effect on 
January 2, 2004, for the book-entry transfers on NBES:

                     TREASURY--NBES FEE SCHEDULE \1\
                [Effective January 2, 2004, (in dollars)]
------------------------------------------------------------------------
                                                    Funds \2\
        Transfer type         Basic fee   Off-line   movement  Total fee
                                         surcharge     fee
------------------------------------------------------------------------
On-line transfer originated.        .21        .00        .04        .25
On-line transfer received...        .21        .00        .04        .25
On-line reversal transfer           .21        .00        .04        .25
 originated.................
On-line reversal transfer           .21        .00        .04        .25
 received...................
Off-line transfer originated        .21      28.00        .04      28.25
Off-line transfer received..        .21      28.00        .04      28.25
Off-line account switch             .21        .00        .04        .25
 received...................
Off-line reversal transfer          .21      28.00        .04      28.25
 originated.................
Off-line reversal transfer          .21      28.00        .04      28.25
 received...................
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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 17, 2003.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 03-27125 Filed 10-27-03; 8:45 am]
BILLING CODE 4810-39-P