[Federal Register Volume 59, Number 85 (Wednesday, May 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-10711]
[[Page Unknown]]
[Federal Register: May 4, 1994]
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DEPARTMENT OF THE TREASURY
Bureau of Engraving and Printing
31 CFR Part 601
[T.D. BEP-2]
Distinctive Paper for United States Currency and Other Securities
AGENCY: Bureau of Engraving and Printing (BEP), Treasury.
ACTION: Treasury decision, final rule.
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SUMMARY: The Bureau of Engraving and Printing is amending the
provisions of Distinctive Paper for United States Currency and Other
Securities regulations, to reflect the adoption of a new distinctive
paper adopted for use by the Secretary of the Treasury to deter
counterfeiting.
EFFECTIVE DATE: June 3, 1994.
FOR FURTHER INFORMATION CONTACT:
Rodolfo Roberts, Office of Management Services, Bureau of Engraving and
Printing, room 321-9A, 14th and C Streets, SW., Washington, DC 20228,
(202) 874-3551.
SUPPLEMENTARY INFORMATION: 80 Stat. 379, 39 Stat. 277, as amended; and
5 U.S.C. 301, U.S.C. 5114 give the Secretary of the Treasury the
authority of law to adopt a new distinctive paper for use in printing
United States currency and other interest-bearing securities of the
United States.
The changes:
(1) Amend section 601.1 to reflect the existence of two kinds
(threaded and non-threaded) of distinctive papers for printing United
States currency and the use of the non-threaded one for printing
interest-bearing securities of the United States.
(2) Amend section 601.2 to reflect a description of the new
threaded distinctive paper.
(3) Amend section 601.3 to indicate that the distinctive paper
currently in use will continue to be used.
(4) Amend section 601.4 to provide that the existing distinctive
paper will continue to be used for printing interest-bearing securities
of the United States.
(5) Section 601.5 remains the same.
(6) Delete section 601.6 in its entirety.
Notice of Proposed Rulemaking
On November 12, 1993, BEP published Notice No. 1 (58 FR 59973),
proposing to amend the provisions of Distinctive Paper for United
States Currency and Other Securities regulations to reflect the
adoption of a new distinctive paper adopted for use by the Secretary of
the Treasury to deter counterfeiting. No comments were received on or
before the closing date of December 13, 1993. Therefore, BEP is
adopting the language in the proposed rule, with no modification.
Regulatory Flexibility Act
It is hereby certified that this document will not have a
significant economic impact on a substantial number of small entities.
Accordingly, a regulatory flexibility analysis is not required because
the final rule is not expected:
(1) To have secondary, or incidental effects on a substantial
number of small entities; or
(2) To impose, or otherwise cause a significant increase in the
reporting, recordkeeping or other compliance burdens of a substantial
number of small entities.
Executive Order 12866
It has been determined that this document is not a major regulation
as defined in Executive Order 12866 and a regulatory impact analysis is
not required because it will not have any annual effect on the economy
of $100 million or more; it will not result in a major increase in
costs or prices for consumers, individual industries, Federal, State,
or local government agencies or geographical regions; and it will not
have significant adverse effects on competition, employment,
investment, productivity, innovation, or on the ability of United
States-based enterprises to compete with foreign based enterprises in
domestic or export markets.
Paperwork Reduction Act
The provisions of the Paperwork Reduction Act of 1980, Public Law
96-511, 44 U.S.C. chapter 35, and its implementing regulations, 5 CFR
Part 1320, do not apply to this rule because no requirement to collect
information is contemplated.
Drafting Information
The principal author of this document is Rodolfo Roberts, Office of
Management Services, Bureau of Engraving and Printing.
List of Subjects in 31 CFR Part 601
Currency, Securities, Printing.
Authority and Issuance
31 CFR part 601 is revised to read as follows:
PART 601--DISTINCTIVE PAPER FOR UNITED STATES CURRENCY AND OTHER
SECURITIES
Sec.
601.1 Notice to the public.
601.2 Description of paper.
601.3 Use of paper.
601.4 Use of paper; interest-bearing securities of the United
States.
601.5 Penalty for unauthorized control or possession.
Authority: 5 U.S.C. 301; 18 U.S.C. 474; 31 U.S.C. 321.
Sec. 601.1 Notice to the public.
The Secretary of the Treasury, by authority of law, has adopted a
new distinctive paper for use in printing United States currency in
addition to the existing distinctive paper for use in printing United
States currency and other securities.
Sec. 601.2 Description of paper.
The paper utilized in the printing of United States currency and
public debt issues is cream-white bank note paper which must contain
security features prescribed by the Secretary of the Treasury. All
currency paper shall contain distinctive fibers, colored red and blue,
incorporated in the body of the paper while in the process of
manufacture and evenly distributed throughout. In addition to
distinctive red and blue fibers, currency paper shall contain, for
denominations prescribed by the Secretary of the Treasury, security
threads embedded beneath the surface of the paper during the
manufacturing process. Security threads shall contain graphics
consisting of the designation ``USA'' and the denomination of the
currency, expressed in alphabetic or numeric characters.
Sec. 601.3 Use of paper.
The new distinctive paper shall be used for printing Federal
Reserve Notes of the denominations prescribed by the Secretary of the
Treasury. The use of the existing distinctive paper, the distinctive
feature of which consists of distinctive fibers, colored red and blue,
incorporated in the body of the paper while in the process of
manufacture and evenly distributed throughout, will be continued for
printing of any currency denomination prescribed by the Secretary of
the Treasury.
Sec. 601.4 Use of paper; interest-bearing securities of the United
States.
The existing distinctive paper shall be used for the printing of
interest-bearing securities of the United States, and for any other
printing where the use of distinctive paper is indicated.
Sec. 601.5 Penalty for unauthorized control or possession.
The Secretary of the Treasury hereby gives notice that the new
distinctive paper, together with any other distinctive paper heretofore
adopted for the printing of paper currency or other obligations or
securities of the United States, is and will be subject to the
provisions of 18 U.S.C. 474 which provides, in part, that it is against
the law to possess any paper, or facsimile thereof, designated by the
Secretary of the Treasury for the printing of U.S. currency or any
other security of the United States, except with the permission of the
Secretary or other authorized official. This crime is punishable by a
fine not to exceed five thousand dollars or imprisonment for not more
than fifteen years, or both.
Peter H. Daly,
Director.
George Munoz,
Assistance Secretary Management.
Lawrence F. Zenker,
Certifying Officer, Bureau of Engraving and Printing.
[FR Doc. 94-10711 Filed 5-3-94; 8:45 am]
BILLING CODE 4840-01-M
