98-29095. Treasury Current Value of Funds Rate

[Federal Register Volume 63, Number 210 (Friday, October 30, 1998)]
[Notices]
[Pages 58457-58458]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-29095]


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DEPARTMENT OF THE TREASURY

Fiscal Service


Treasury Current Value of Funds Rate

AGENCY: Financial Management Service, Fiscal Service, Treasury.

ACTION: Notice of rate for use in Federal debt collection and discount 
evaluation.

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SUMMARY: Pursuant to Section 11 of the Debt Collection Act of 1982 (31 
U.S.C. 3717), the Secretary of the Treasury is responsible for 
computing and publishing the percentage rate to be used in assessing 
interest charges for outstanding debts on claims owed the Government. 
Treasury's Cash Management Regulations (I TFM 6-8000) also prescribe 
use of this rate by agencies as a comparison point in evaluating the 
cost-effectiveness of a cash discount. Notice is hereby given that the 
applicable rate is 5 percent for calendar year 1999.

DATES: The rate will be in effect for the period beginning on January 
1, 1999 and ending on December 31, 1999.

FOR FURTHER INFORMATION CONTACT:
Inquiries should be directed to the Program Compliance Division, 
Financial Management Service, Department of the Treasury, 401 14th 
Street, SW, Washington, DC 20227 (Telephone: [phone]).

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 Pub. L. 
95-147, 91 Stat. 1227. Computed each year by averaging investment rates 
for the 12-month period ending every September 30 for

[[Page 58458]]

applicability effective January 1, the rate is subject to quarterly 
revisions if the annual average, on the moving basis, changes by 2 per 
centum. The rate in effect for calendar year 1999 reflects the average 
investment rates for the 12-month period ended September 30, 1998.

    Dated: October 26, 1998.
Bettsy H. Lane,
Acting Assistant Commissioner, Federal Finance.
[FR Doc. 98-29095 Filed 10-29-98; 8:45 am]
BILLING CODE 4810-35-M