[Federal Register Volume 68, Number 234 (Friday, December 5, 2003)]
[Rules and Regulations]
[Pages 67943-67944]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-30241]


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DEPARTMENT OF THE TREASURY

Office of the Secretary

31 CFR Parts 1 and 323


Privacy Act of 1974; Implementation

AGENCY: Bureau of the Public Debt, Treasury.

ACTION: Final rule.

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SUMMARY: In accordance with the requirements of the Privacy Act of 
1974, as amended, the Department of the Treasury exempts a Bureau of 
the Public Debt system of records entitled ``Treasury/BPD.009--U.S. 
Treasury Securities Fraud Information System'' from certain provisions 
of the Privacy Act.

EFFECTIVE DATE: December 5, 2003.

FOR FURTHER INFORMATION CONTACT: For information about Public Debt's 
anti-money laundering and fraud suppression program, contact the Fraud 
Inquiry Line at 304-480-8555. The phone line is administered by the 
Office of the Chief Counsel, Bureau of the Public Debt. For information 
about this document, contact the Office of the Chief Counsel, Bureau of 
the Public Debt, at 304-480-8692 or by e-mail at 
[email protected]. Copies of this rule can be downloaded from the 
public Web site at http://www.publicdebt.treas.gov.

SUPPLEMENTARY INFORMATION: The Department of the Treasury published a 
system notice for ``Treasury/BPD.009-U.S. Treasury Securities Fraud 
Information System'' in its entirety at 68 FR 34486-34489 (June 9, 
2003). We did not receive any comments on the notice. The system of 
records became effective July 21, 2003.
    We issued a proposed rule exempting the system of records from 
certain provisions of the Privacy Act of 1974, as amended, at 68 FR 
36955-36957 (June 20, 2003). Under 5 U.S.C. 552a(k)(2), the head of an 
agency may promulgate rules to exempt any system of records within the 
agency from certain provisions of the Privacy Act of 1974, as amended, 
if the system is investigatory material compiled for law enforcement 
purposes. The system of records contains investigatory material 
compiled for law enforcement purposes.
    The provisions of the Privacy Act from which exemption is claimed 
pursuant to 5 U.S.C. 552a(k)(2) are: 5 U.S.C. 552a(c)(3) (Accounting of 
certain disclosures available to the individual), (d)(1)-(4) (Access to 
records), (e)(1) (Maintenance of information to accomplish purposes 
authorized by statute or executive order only), (e)(4)(G) (Publication 
of procedures for notification), (e)(4)(H) (Publication of procedures 
for access and contest), (e)(4)(I) (Publication of sources of records), 
and (f) (Rules for notification, access and contest) to the extent that 
information in the system is subject to exemption pursuant to 5 U.S.C. 
552a(k)(2) as material compiled for law enforcement purposes.
    In an unrelated change, the proposed rule clarified the privacy 
interests afforded to close survivors of a deceased securities holder. 
Public Debt protected the privacy interests of securities holders by 
regulation long before the passage of the Privacy Act of 1974. We 
proposed to amend part 323 to comport with exemption 6 of the Freedom 
of Information Act which permits us to withhold all information about 
individuals in ``personnel and medical files and similar files'' when 
the disclosure of such information ``would constitute a clearly 
unwarranted invasion of personal privacy.'' Although the right to 
privacy of a deceased securities holder extinguishes upon death, the 
exemption will protect the deceased person's family-related privacy 
interests in certain cases.
    The proposed rule requested that public comments be sent to the 
Disclosure Officer, Administrative Resource Center, Bureau of the 
Public Debt, no later than July 21, 2003. We did not receive comments 
on the proposed rule. Accordingly, the Department of the Treasury is 
hereby giving notice that the system of records entitled ``Treasury/
BPD.009-U.S. Treasury Securities Fraud Information System.'', is exempt 
from certain provisions of the Privacy Act.
    As required by Executive Order 12866, it has been determined that 
this final rule is not a ``significant regulatory action,'' and 
therefore, does not require a Regulatory Impact Analysis.
    The regulation will not have a substantial direct effect on the 
States, on the relationship between the Federal Government and the 
States, or on the distribution of power and responsibilities among the 
various levels of government. Therefore, it is determined that this 
final rule does not have federalism implications under Executive Order 
13132.
    Pursuant to the requirements of the Regulatory Flexibility Act, 5 
U.S.C. 601-612, the Department of the Treasury and Public Debt certify 
that these regulations will not significantly affect a substantial 
number of small entities. The final rule imposes no duties or 
obligations on small entities.
    In accordance with the provisions of the Paperwork Reduction Act of 
1995, the Department of the Treasury and Public Debt have determined 
that this final rule would not impose new record keeping, application, 
reporting, or other types of information collection requirements.

List of Subjects

31 CFR Part 1

    Privacy.

31 CFR Part 323

    Freedom of Information Act, Privacy.

0
Accordingly, for the reasons stated in the preamble, 31 CFR part 1, is 
amended as follows:
0
1. The authority citation for part 1 continues to read as follows:


[[Page 67944]]


    Authority: 5 U.S.C. 301 and 31 U.S.C. 321. Subpart A also issued 
under 5 U.S.C. 552, as amended. Subpart C also issued under 5 U.S.C. 
552a.

PART 1--[AMENDED]

Subpart C--Privacy Act

0
2. In Subpart C, Sec. 1.36, paragraph (g)(1)(x) is amended by adding 
the following new table below the heading BUREAU OF THE PUBLIC DEBT:

------------------------------------------------------------------------
               Number                             System name
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BPD.009.............................  U.S. Treasury Securities Fraud
                                       Information System.
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PART 323--[AMENDED]

0
3. The authority citation for part 323 continues to read as follows:

    Authority: 80 Stat. 379; sec. 3., 60 Stat. 238, as amended; 5 
U.S.C. 301, 552.


0
4. Revise Sec.  323.2(b) to read as follows:


Sec.  323.2  Rules Governing Availability of Information.

* * * * *
    (b) Limitations on the availability of records relating to 
securities. Records relating to the purchase, ownership of, and 
transactions in Treasury securities or other securities handled by the 
Bureau of the Public Debt for government agencies or wholly or 
partially Government-owned corporations will ordinarily be disclosed 
only to the owners of such securities, their executors, administrators 
or other legal representatives or to their survivors or to 
investigative and certain other agencies of the Federal and State 
governments, to trustees in bankruptcy, receivers of insolvents' 
estates or where a proper order has been entered requesting disclosure 
of information to Federal and State courts. These records are 
confidential because they relate to private financial affairs of the 
owners under this Part. In addition, the information falls within the 
category of ``personnel and medical files and similar files the 
disclosure of which would constitute a clearly unwarranted invasion of 
personal privacy'' under the Freedom of Information Act (FOIA), 5 
U.S.C. 552(b)(6). FOIA Exemption (b)(6) protects the privacy of living 
persons who own securities as well as the close survivors of deceased 
owners. Privacy interests, in the sense of the right to control, use, 
or disclose information about oneself, cease at death. However, the 
exemption protects the deceased person's family-related privacy 
interests that survive death where disclosure would cause 
embarrassment, pain, grief, or disrupt the peace of mind, of the 
surviving family. The Bureau of the Public Debt will determine, under 
FOIA exemption (b)(6), whether disclosure of the records is in the 
public interest by balancing the surviving family members' privacy 
interest against the public's right to know the information.

    Dated: November 18, 2003.
Teresa Mullett Ressel,
Assistant Secretary for Management and Chief Financial Officer.
[FR Doc. 03-30241 Filed 12-4-03; 8:45 am]
BILLING CODE 4810-39-P