[Federal Register Volume 61, Number 250 (Friday, December 27, 1996)]
[Rules and Regulations]
[Page 68155]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-32781]
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DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Part 209
RIN 1510-AA30
Payment to Financial Institutions for Credit to Accounts of
Employees and Beneficiaries
AGENCY: Financial Management Service, Fiscal Service, Treasury.
ACTION: Final rule.
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SUMMARY: The Financial Management Service is removing this Part from
Title 31 of the Code of Federal Regulations. This Part governs the
remittance to financial institutions of checks representing wage,
salary, annuity and allotment payments to be credited to the accounts
of Federal employees and beneficiaries. Such disbursements are no
longer made by check. These payments now are made by electronic funds
transfer through the Automated Clearing House and, are governed by 31
CFR Part 210. Therefore, Part 209 is no longer necessary.
EFFECTIVE DATE: January 27, 1997.
FOR FURTHER INFORMATION CONTACT: Christine Ricci, Financial Program
Specialist, at (202) 874-7458 or Cynthia L. Johnson, Director, Cash
Management Policy and Planning Division, (202) 874-6657. A copy of the
Final Rule is being made available for downloading from the Financial
Management Service home page at the following address: http://
www.ustreas.gov./treasury/bureaus/finman/.
SUPPLEMENTARY INFORMATION:
Background
On January 4, 1995, the Financial Management Service (Service)
published a Notice of Proposed Rulemaking (NPRM) proposing to remove
Part 209 from Title 31 of the Code of Federal Regulations. See 60 FR
416. Part 209 governs the remittance to financial institutions of
checks representing wage, salary, annuity and allotment payments for
credit to the accounts of Federal employees and beneficiaries. The
Service issued such checks when sending payments to financial
institutions that did not have the capability to receive payments by
electronic funds transfer. In the NPRM, the Service noted that other
regulations which took effect on July 1, 1994, required financial
institutions to receive such payments by electronic funds transfer. See
58 FR 21634. The Service no longer issues checks pursuant to Part 209
and, thus, the regulation is obsolete.
The January 4 publication contained a 30 day comment period. No
comments were received in response to the NPRM.
On September 30, 1994, the Service published an NPRM in which the
Service proposed to move the portions of Part 209 dealing with savings
and salary allotments to 31 CFR Part 210. See 59 FR 50112. The Service
expects to issue a new NPRM with respect to Part 210 in the near
future. At that time, the Service will review the desirability of
including provisions relating to savings and salary allotments in Part
210.
Rulemaking Analysis
The Service has determined that this regulation is not a
significant regulation as defined in E.O. 12866 and a regulatory
assessment is not required. It is hereby certified that removal of this
regulation will not have a significant economic impact on a substantial
number of small entities. Accordingly, a regulatory flexibility
analysis is not required. The removal of 31 CFR Part 209 will have
little or no effect on the economy or consumers, because the part is
obsolete and no longer in use.
List of Subjects in 31 CFR Part 209
Automated Clearing House, Allotments, Banks, Banking, Discretionary
allotments, Electronic funds transfer, Financial institution,
Government employees, Net pay, Salary, Wages.
Accordingly, and under the authority of 31 U.S.C. 321, 3321, and
3335, Part 209 of Title 31 is removed as follows:
PART 209--[REMOVED]
Part 209 is removed.
Dated: December 19, 1996.
Russell D. Morris,
Commissioner.
[FR Doc. 96-32781 Filed 12-26-96; 8:45 am]
BILLING CODE 4810-35-P
