[Federal Register Volume 62, Number 171 (Thursday, September 4, 1997)]
[Notices]
[Page 46797]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-23570]
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DEPARTMENT OF THE TREASURY
Fiscal Service
Fee Schedule for the Service to the TREASURY DIRECT Investor of
Selling Securities Held in TREASURY DIRECT Accounts in the Secondary
Market
AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury is announcing the schedule of
fees to be charged to the TREASURY DIRECT investor for the service of
selling unmatured securities held in TREASURY DIRECT in the secondary
market. The service will be provided by a designated Federal Reserve
Bank acting as fiscal agent of the United States.
EFFECTIVE DATE: September 4, 1997.
FOR FURTHER INFORMATION CONTACT: Richard Koch, Director, Division of
Customer Service, Bureau of the Public Debt, (304) 480-6748; Susan
Klimas, Attorney-Adviser, Office of the Chief Counsel, Bureau of the
Public Debt, (304) 480-5192; Edward C. Gronseth, Deputy Chief Counsel,
Office of the Chief Counsel, Bureau of the Public Debt, (304) 480-5192.
SUPPLEMENTARY INFORMATION: On September 4, 1997, the Department of the
Treasury amended the general regulations governing book-entry Treasury
Bonds, Notes and Bills to offer TREASURY DIRECT investors the service
of selling their unmatured marketable securities held in their TREASURY
DIRECT accounts in the secondary market. At the request of the
investor, the securities will be transferred to the designated Federal
Reserve Bank, acting as fiscal agent of the United States, to be sold
on behalf of the investor.
A transaction fee will be charged for each security sold on behalf
of the investor. For purposes of computing the transaction fee, a
security is considered as any amount within a TREASURY DIRECT account
which is identified by a separate CUSIP number. Thus, if an investor
has several holdings within a TREASURY DIRECT account of varying
amounts, but all are identified by the same CUSIP number, and all are
transferred in one transaction, only one transaction fee will be
charged, since the holdings are considered as one security. If the
investor has several holdings within a TREASURY DIRECT account, each
with a different CUSIP number, then a separate transaction fee will be
charged for each holding, as each holding with a separate CUSIP number
is considered a separate security. If an investor has two TREASURY
DIRECT accounts, and each account has a security with a CUSIP identical
to the security in the other account, then a separate transaction fee
will be charged for each security, since each security within each
account is considered a separate security. If the Federal Reserve Bank
is unable to complete the sale of the security, no transaction fee will
be charged. The transaction fee will be deducted from the settlement
amount by the Federal Reserve Bank.
Schedule of Fees for the Sale of Securities in the Secondary Market
The fee schedule for the sale of an unmatured security held in
TREASURY DIRECT by the designated Federal Reserve Bank in the secondary
market on behalf of the investor is as follows: a fee of $34 will be
charged for each security held in a TREASURY DIRECT account which is
sold in the secondary market on behalf of the investor by the
designated Federal Reserve Bank acting as fiscal agent of the United
States.
Dated: August 29, 1997.
Richard L. Gregg,
Commissioner of the Public Debt.
[FR Doc. 97-23570 Filed 9-3-97; 8:45 am]
BILLING CODE 4810-39-M
