[Federal Register Volume 59, Number 26 (Tuesday, February 8, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2840]
[[Page Unknown]]
[Federal Register: February 8, 1994]
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DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Part 348
[Department of the Treasury Circular, Public Debt Series No. 21-75]
Regulations Governing 2-Percent Depository Bonds
AGENCY: Bureau of the Public Debt, Fiscal Service, Department of the
Treasury.
ACTION: Final rule.
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SUMMARY: This final rule is being published to terminate the offering
of 2-Percent Depository Bonds and amend by removal Part 348 from Title
31 of the CFR, effective immediately.
EFFECTIVE DATE: February 8, 1994.
FOR FURTHER INFORMATION CONTACT: Fred A. Pyatt, Director, Division of
Special Investments, Bureau of the Public Debt, on (304) 480-7752.
SUPPLEMENTARY INFORMATION: Department of the Treasury Circular, Public
Debt Series No. 21-75, dated July 10, 1975, provides for the offering
and issuance of 2-Percent Depository Bonds.
Two Percent Depositary Bonds are acceptable to secure deposits of
Federal funds with, and the faithful performance of duties by,
depositaries and financial agents, as designated in Part 348. The bonds
have been offered to such depositaries and financial agents in an
amount not to exceed the amount of their qualification.
All outstanding 2-Percent Depositary Bonds have been redeemed by
the Department of the Treasury. Depositaries and financial agents are
receiving payments for expenses incurred in handling Federal funds
through arrangements not involving 2-Percent Depositary Bonds. The
offering of 2-Percent Depositary Bonds will terminate effective upon
publication of this rule in the Federal Register.
Because all outstanding 2-Percent Depositary Bonds have been
redeemed, part 348, which governs these securities, is unnecessary and,
therefore, should be removed from title 31 of the CFR concurrent with
termination of the offering.
Special Analysis: Because this amendment relates to the terms and
conditions of special purpose Treasury securities, the notice and
public procedures, and the delayed effective date requirements of the
Administrative Procedure Act (5 U.S.C. 553(a)(2)) are inapplicable. It
has been determined that the rule does not constitute a ``significant
regulatory action'' for purposes of Executive Order No. 12688. Because
no notice of proposed rulemaking is required, the provisions of the
Regulatory Flexibility Act (5 U.S.C. 601, et seq.) do not apply to this
rule.
List of Subjects in 31 CFR Part 348
Banks, Banking, Bonds, Electronic funds transfer, Government
securities.
Accordingly, 31 CFR part 348 is amended as follows:
Part 348--[Removed]
1. Part 348 is removed.
Dated: January 26, 1994.
Gerald Murphy,
Fiscal Assistant Secretary.
[FR Doc. 94-2840 Filed 2-17-94; 8:45 am]
BILLING CODE 4810-M
