[Federal Register Volume 60, Number 14 (Monday, January 23, 1995)]
[Notices]
[Pages 4473-4474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1595]
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DEPARTMENT OF THE TREASURY
Fiscal Service
Fee Schedules for the Issuance of Definitive Securities and
TREASURY DIRECT Securities Accounts
AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.
ACTION: Notice.
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SUMMARY: This notice announces two schedules of fees to be assessed for
marketable Treasury securities. This assessment of fees implements a
provision of the Treasury, Postal Service and General Government
Appropriations Act of 1995. Treasury will collect fees to offset the
cost of providing services. Fees will be assessed for each definitive
security issued to customers, and for annual maintenance for certain
TREASURY DIRECT securities accounts. A final rule, which authorizes the
assessment of fees, is published in this issue of the Federal Register.
EFFECTIVE DATE: This notice is effective January 23, 1995. However,
fees will be assessed beginning January 30, 1995, for definitive
securities, and May 19, 1995, for securities accounts in the TREASURY
DIRECT book-entry system.
FOR FURTHER INFORMATION CONTACT: Maureen Parker, Director, Division of
Securities Systems, Bureau of the Public Debt (304) 480-7761, Susan
Klimas, Attorney-Adviser, Office of the Chief Counsel, Bureau of the
Public Debt (304) 480-5192.
SUPPLEMENTARY INFORMATION: The Treasury, Postal Service and General
Government Appropriations Act of 1995 (Pub.L. 103-329), authorizes the
Secretary to collect a fee of not less than $46 for each definitive
security issued to customers. The legislation also authorizes the
Secretary to collect an annual fee for each TREASURY DIRECT Investor
Account, referred to in the regulations as a ``Securities account'',
holding securities which exceed $100,000 in par value. Congress granted
the authority to assess fees to enable the Treasury to recover the
costs of providing these services to investors.
Fee Schedule for Definitive Securities
Part 306 was amended by a final rule published separately in this
issue of the Federal Register, to add a new section 306.24.
This section provides that a fee will be charged for each
definitive security issued on a transfer, reissue, exchange or
withdrawal from book-entry, or the granting of relief on account of
loss or theft, in accordance with a fee schedule published in the
Federal Register. The fees will be imposed beginning January 30, 1995,
and the fee schedule appears below in this notice.
Investors requesting a transaction that results in the issue of a
registered or bearer Treasury note or bond will be charged a fee of $50
for each new certificate issued. Payment in the form of a check or
money order, payable to the Federal Reserve Bank processing the
transaction, must accompany the request. Any request submitted without
the fee payment will be returned to the investor. Payments from
depository institutions may be debited from the reserve account
maintained by the institution at the appropriate Federal Reserve Bank.
Fee Schedule for Securities in the TREASURY DIRECT Book-entry System
31 CFR Part 357, which governs Treasury securities held in the
TREASURY DIRECT book-entry system, was amended to add a new paragraph
(f) to Section 357.20. Paragraph (f) provides that accounts holding
securities above a stipulated par amount will be charged a fee in
accordance with a fee schedule published in the Federal Register. The
[[Page 4474]] fees will be imposed as of May 19, 1995, and the fee
schedule applicable appears below in this notice.
Each TREASURY DIRECT Securities Account which exceeds $100,000, par
value, will be charged an annual fee of not less than $25. The
determination as to the amount of the fee will be made annually.
Dated: January 17, 1995.
Gerald Murphy,
Fiscal Assistant Secretary.
Schedule of Fees Assessed for Marketable Treasury Securities
The fee schedule for the issuance of a definitive security is as
follows:
A fee of $50 will be charged for each definitive security issued on
a transfer, reissue, exchange or withdrawal from book-entry form, or as
a result of the granting of relief on account of loss, theft,
destruction, mutilation or defacement. Payment of the fee must
accompany the request for the issue of securities in physical form. If
a request results in the issuance of more than one security, the amount
of the fee is arrived at by multiplying the number of pieces requested
by $50. The fee announced above applies beginning January 30, 1995.
Schedule of Fees for TREASURY DIRECT Book-entry System Accounts
The fee schedule for TREASURY DIRECT securities accounts is as
follows:
Each TREASURY DIRECT securities account holding Treasury bonds,
notes and bills, pursuant to 31 CFR Part 357, that exceeds $100,000 in
par amount will be charged an annual maintenance fee in the amount of
$25. For 1995, this will be imposed on accounts exceeding $100,000 in
par amount as of May 19, 1995. The determination as to what accounts
are subject to the fee shall be made annually. Each account holder will
be individually billed.
[FR Doc. 95-1595 Filed 1-20-95; 8:45 am]
BILLING CODE 4810-39-P
