[Federal Register Volume 88, Number 235 (Friday, December 8, 2023)]
[Notices]
[Pages 85730-85731]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-26995]


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DEPARTMENT OF THE TREASURY

Bureau of the Fiscal Service


Application and Renewal Fees Imposed on Surety Companies and 
Reinsuring Companies; Increase in Fees Imposed

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice of fees imposed on surety companies and reinsuring 
companies.

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SUMMARY: The Department of the Treasury, Bureau of the Fiscal Service, 
is increasing the fees it imposes on and collects from surety companies 
and reinsuring companies, effective January 1, 2024.

FOR FURTHER INFORMATION CONTACT: Melvin Saunders, at (304) 480-5108 or 
[email protected]; or Bobbi McDonald, at (304) 480-
7098 or [email protected].

SUPPLEMENTARY INFORMATION: The Independent Offices Appropriations Act 
of 1952 (IOAA), codified at 31 U.S.C. 9701, authorizes Federal agencies 
to establish fees for a service or thing of value provided by the 
agency to members of the public. Office of Management and Budget 
Circular A-25 allows agencies to impose user fees for services that 
confer a special benefit to identifiable recipients beyond those 
accruing to the general public. Pursuant to 31 CFR 223.22, Treasury 
imposes fees on surety companies and reinsuring companies seeking to 
obtain or renew certification or recognition from Treasury. The fees 
imposed and collected cover the costs incurred by the Government for 
services performed reviewing, analyzing, and evaluating the

[[Page 85731]]

companies' applications, financial statements, and other information. 
Treasury determines the amount of fees in accordance with the IOAA and 
the Office of Management and Budget Circular A-25, as amended. The 
change in fees is the result of a thorough analysis of costs associated 
with the corporate federal surety bond program.
    The new fee rate schedule is as follows:
    (1) Examination of a company's application for a Certificate of 
Authority as an acceptable surety or as an acceptable reinsuring 
company on Federal bonds: $12,400.
    (2) Determination of a company's continued qualification for annual 
renewal of its Certificate of Authority: $8,000.
    (3) Examination of a company's application for recognition as an 
Admitted Reinsurer: $4,500.
    (4) Determination of a company's continued qualification for annual 
renewal of its authority as an Admitted Reinsurer: $3,200. Questions 
concerning this notice should be directed to the Surety Bond Branch, 
Special Assets and Liabilities Division, Bureau of the Fiscal Service, 
Surety Bonds (A-1G), 257 Bosley Industrial Drive, Parkersburg, WV 
26106, Telephone (304) 480-6635.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2023-26995 Filed 12-7-23; 8:45 am]
BILLING CODE 4810-AS-P