2019-23482. 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.

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 2, 2020.

DATES:

Applicable January 2, 2020.

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 2, 2020, the basic fee will decrease from $0.90 to $0.75. 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.

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 2, 2020, for book-entry transfers on Fedwire:

Treasury-Fedwire Fee Schedule

Effective January 2, 2020

[In dollars]

Transfer type	Basic fee	Off-line surcharge
On-line transfer originated	0.75	N/A
On-line transfer received	0.75	N/A
On-line reversal transfer originated	0.75	N/A
On-line reversal transfer received	0.75	N/A
Off-line transfer originated	0.75	70.00
Off-line transfer received	0.75	70.00
Off-line account switch received	0.75	0.00
Off-line reversal transfer originated	0.75	70.00
Off-line reversal transfer received	0.75	70.00

Authority: 31 CFR 357.45.

David A. Lebryk,

Fiscal Assistant Secretary.

Footnotes

1.  The Board of Governors of the Federal Reserve System sets this fee separately from the fees assessed by Treasury. As of January 2, 2019, that fee was $0.11 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.