[Federal Register Volume 85, Number 210 (Thursday, October 29, 2020)]
[Notices]
[Page 68624]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23298]



[[Page 68624]]

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DEPARTMENT OF THE TREASURY

Fiscal Service

Bureau of the Fiscal Service


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

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

ACTION: Notice.

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SUMMARY: The Department of the Treasury (Treasury) is announcing a new 
fee schedule applicable to transfers of U.S. Treasury book-entry 
securities maintained on the Fedwire Securities Service (Fedwire) that 
occur on or after January 4, 2021.

DATES: Applicable January 4, 2021.

FOR FURTHER INFORMATION CONTACT: Brendan Griffiths, Bureau of the 
Fiscal Service, 202-504-3550.

SUPPLEMENTARY INFORMATION: Treasury has established a fee structure for 
the transfer of Treasury book-entry securities maintained on Fedwire. 
Treasury reassesses this fee structure periodically based on our review 
of the latest book-entry costs and volumes.
    For each Treasury securities transfer or reversal sent or received 
on or after January 4, 2021, the basic fee will decrease from $0.75 to 
$0.65. The Federal Reserve System also charges a funds movement fee for 
each of these transactions for the funds settlement component of a 
Treasury securities transfer.\1\ The surcharge for an off-line Treasury 
book-entry securities transfer will remain at $70.00. Off-line refers 
to the sending and receiving of transfer messages to or from a Federal 
Reserve Bank by means other than on-line access, such as by written, 
facsimile, or telephone voice instruction. The basic transfer fee 
assessed to both sends and receives is reflective of costs associated 
with the processing of securities transfers. The off-line surcharge, 
which is in addition to the basic fee and the funds movement fee, 
reflects the additional processing costs associated with the manual 
processing of off-line securities transfers.
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    \1\ The Board of Governors of the Federal Reserve System sets 
this fee separately from the fees assessed by Treasury. As of 
January 2, 2020, that fee was $0.09 per transaction. For a current 
listing of the Federal Reserve System's fees, please refer to 
https://www.frbservices.org/financial-services/securities/index.html.
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    Treasury does not charge a fee for account maintenance, the 
stripping and reconstitution of Treasury securities, the wires 
associated with original issues, or interest and redemption payments. 
Treasury currently absorbs these costs.
    The fees described in this notice apply only to the transfer of 
Treasury book-entry securities held on Fedwire. Information concerning 
fees for book-entry transfers of Government Agency securities, which 
are priced by the Federal Reserve, is set out in a separate Federal 
Register notice published by the Federal Reserve.
    The following is the Treasury fee schedule that will take effect on 
January 4, 2021, for book-entry transfers on Fedwire:

         Treasury-Fedwire Fee Schedule Effective January 4, 2021
                              [In dollars]
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                                                        Basic   Off-line
                    Transfer type                        fee   surcharge
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On-line transfer originated..........................    0.65        N/A
On-line transfer received............................    0.65        N/A
On-line reversal transfer originated.................    0.65        N/A
On-line reversal transfer received...................    0.65        N/A
Off-line transfer originated.........................    0.65      70.00
Off-line transfer received...........................    0.65      70.00
Off-line account switch received.....................    0.65       0.00
Off-line reversal transfer originated................    0.65      70.00
Off-line reversal transfer received..................    0.65      70.00
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    Authority: 31 CFR 357.45.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2020-23298 Filed 10-28-20; 8:45 am]
BILLING CODE 4810-AS-P