[Federal Register Volume 87, Number 223 (Monday, November 21, 2022)]
[Notices]
[Page 70888]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-25077]


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DEPARTMENT OF THE TREASURY

Fiscal Service

Bureau of the Fiscal Service


Notice of Rate To Be Used for Federal Debt Collection, and 
Discount and Rebate Evaluation

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

ACTION: Notice of rate to be used for Federal debt collection, and 
discount and rebate evaluation.

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SUMMARY: The Secretary of the Treasury is responsible for computing and 
publishing the percentage rate that is used in assessing interest 
charges for outstanding debts owed to the Government (The Debt 
Collection Act of 1982, as amended). This rate is also used by agencies 
as a comparison point in evaluating the cost-effectiveness of a cash 
discount. In addition, this rate is used in determining when agencies 
should pay purchase card invoices when the card issuer offers a rebate. 
Notice is hereby given that the applicable rate for calendar year 2023 
is 1.00 percent.

DATES: January 1, 2023, through December 31, 2023.

FOR FURTHER INFORMATION CONTACT: Department of the Treasury, Bureau of 
the Fiscal Service, Disbursing and Debt Management, E-Commerce Division 
(LC-RM 349B), 3201 Pennsy Drive, Building E, Landover, MD 20785 
(Telephone: 202-874-9428).

SUPPLEMENTARY INFORMATION: The rate reflects the Current Value of Funds 
to the Treasury for use in connection with Federal Cash Management 
systems and is based on investment rates set for purposes of Public Law 
95-147, 91 Stat. 1227 (October 28, 1977). The annual Interest Rate 
Factors used in determining the Current Value of Funds Rate are based 
on weekly average Fed funds, less 25 basis points for the 12-month 
period ending every September 30. The Treasury Office of Debt 
Management began providing the annual Interest Rate Factors in the 
October 2021 monthly reporting cycle. The Current Value of Funds Rate 
is rounded to the nearest whole percentage for applicability effective 
each January 1. Quarterly revisions are made if the annual average, on 
a moving basis, changes by 2 percentage points.
    Authority: 31 U.S.C. Section 3717.

Linda Claire Chero,
Assistant Commissioner, Disbursing and Debt Management, and Chief 
Disbursing Officer.
[FR Doc. 2022-25077 Filed 11-18-22; 8:45 am]
BILLING CODE 4810-AS-P