[Federal Register Volume 70, Number 228 (Tuesday, November 29, 2005)]
[Rules and Regulations]
[Page 71401]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-23333]


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DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 356


Sale and Issue of Marketable Book-Entry Bills, Notes, and Bonds; 
Correction

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

ACTION: Final rule; correction.

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SUMMARY: The Bureau of the Public Debt published a final rule in the 
September 30, 2005, Federal Register, amending the Sale and Issue of 
Marketable Book-Entry Treasury Bills, Notes, and Bonds to permit 
Treasury bills, notes, and bonds to be held in the TreasuryDirect 
system. Several paragraphs were inadvertently omitted. This correction 
document corrects that omission.

DATES: Effective November 29, 2005.

ADDRESSES: You can download this correction at the following Internet 
address: http://www.publicdebt.treas.gov.

FOR FURTHER INFORMATION CONTACT: Chuck Andreatta, Associate Director, 
Government Securities Regulations Staff, Bureau of the Public Debt, at 
(202) 504-3632 or [email protected].
    Susan Klimas, Attorney-Adviser, Dean Adams, Assistant Chief 
Counsel, or Edward Gronseth, Deputy Chief Counsel, Office of the Chief 
Counsel, Bureau of the Public Debt, at (304) 480-8692 or 
[email protected].

SUPPLEMENTARY INFORMATION: The Bureau of the Public Debt published in 
the September 30, 2005, Federal Register (70 FR 57437), a final rule 
that amended 31 CFR part 356, the Sale and Issue of Marketable Book-
Entry Treasury Bills, Notes, and Bonds, to permit investors to hold 
Treasury bills, notes, and bonds in the TreasuryDirect system. In 
section 356.17, several already-existing paragraphs were inadvertently 
deleted. This document corrects the deletion.

List of Subjects in 31 CFR Part 356

    Bonds, Federal Reserve System, Government securities, Securities.


0
Accordingly, 31 CFR part 356 is corrected by making the following 
correcting amendments:

PART 356--SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, 
NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR, PUBLIC DEBT 
SERIES NO. 1-93)

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1. The authority citation for part 356 continues to read as follows:

    Authority: 5 U.S.C. 301; 31 U.S.C. 3102 et seq.; 12 U.S.C. 391.


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2. In Sec.  356.17, add paragraphs (d)(1) and (d)(2), to read as 
follows:


Sec.  356.17  How and when do I pay for securities awarded in an 
auction?

* * * * *
    (d) * * *
    (1) A submitter that does not have a funds account at a Federal 
Reserve Bank or that chooses not to pay by charge to its own funds 
account must have an approved autocharge agreement on file with us 
before submitting any bids. Any depository institution whose funds 
account will be charged under an autocharge agreement will receive 
advance notice from us of the total par amount of, and price to be 
charged for, securities awarded as a result of the submitter's bids.
    (2) A submitter that is a member of a clearing corporation may 
instruct that delivery and payment be made through the clearing 
corporation for securities awarded to the submitter for its own 
account. To do this, the following requirements must be met prior to 
submitting any bids:
    (i) We must have acknowledged and have on file an autocharge 
agreement between the clearing corporation and a depository 
institution. By entering into such an agreement, the clearing 
corporation authorizes us to provide aggregate par and price 
information to the depository institution whose funds account will be 
charged under the agreement. The clearing corporation is responsible 
for remitting payment for auction awards of the clearing corporation 
member.
    (ii) We must have acknowledged and have on file a delivery and 
payment agreement between the submitter and the clearing corporation. 
By entering into such an agreement, the submitter authorizes us to 
provide award and payment information to the clearing corporation.

    Dated: November 21, 2005.
Van Zeck,
Commissioner of the Public Debt.
[FR Doc. 05-23333 Filed 11-28-05; 8:45 am]
BILLING CODE 4810-39-M