2018-23713. Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the National Book-Entry System  

  • Start Preamble Start Authority

    Authority: 31 CFR 357.45.

    End Authority

    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 National Book-Entry System (NBES) that occur on or after January 2, 2019.

    DATES:

    Applicable January 2, 2019.

    Start Further Info

    FOR FURTHER INFORMATION CONTACT:

    Brendan Griffiths, Bureau of the Fiscal Service, 202-504-3550.

    End Further Info End Preamble Start Supplemental Information

    SUPPLEMENTARY INFORMATION:

    Treasury has established a fee structure for the transfer of Treasury book-entry securities maintained on NBES. 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, 2019, the basic fee will decrease from $0.97 to $0.90. 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 Start Printed Page 54808interest 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 NBES. 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, 2019, for book-entry transfers on NBES:

    Treasury—NBES Fee Schedule—Effective January 2, 2019

    [In Dollars]

    Transfer typeBasic feeOff-line surcharge
    On-line transfer originated0.90N/A
    On-line transfer received0.90N/A
    On-line reversal transfer originated0.90N/A
    On-line reversal transfer received0.90N/A
    Off-line transfer originated0.9070.00
    Off-line transfer received0.9070.00
    Off-line account switch received0.900.00
    Off-line reversal transfer originated0.9070.00
    Off-line reversal transfer received0.9070.00
    Start Signature

    David A. Lebryk,

    Fiscal Assistant Secretary.

    End Signature End Supplemental Information

    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, 2018, 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.

    Back to Citation

    [FR Doc. 2018-23713 Filed 10-30-18; 8:45 am]

    BILLING CODE 4810-AS-P

Document Information

Published:
10/31/2018
Department:
Bureau of the Fiscal Service
Entry Type:
Notice
Action:
Notice.
Document Number:
2018-23713
Dates:
Applicable January 2, 2019.
Pages:
54807-54808 (2 pages)
PDF File:
2018-23713.pdf