1997 Federal Register Items (January - June)

31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; DETERMINATION REGARDING STATE STATUTE; DISTRICT OF COLUMBIA. The Department of the Treasury is announcing that it has reviewed the recently enacted District of Columbia law adopting Revised Article 8 of the Uniform Commercial Code--Investment Securities ("Revised Article 8") and has determined that the portion of the "TRADES" rule in 31 CFR part 357, subpart B, requiring application of Revised Article 8 if a state has not adopted Revised Article 8 will no longer be applicable for the District of Columbia. Effective June 18, 1997.

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31 CFR Part 370 Regulations Governing Payments by the Automated Clearing House Method on Account of United States Securities; CORRECTION.The document corrects a numbering error in a final rule to the regulations concerning the use of debit ACH for the purchase of Treasury bills, bonds and notes, published in the Federal Register of October 22, 1996. Effective October 22, 1996.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; CORRECTION. The document corrects the amendatory instructions for a final rule published in the Federal Register of April 16, 1997. Effective April 16, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; DETERMINATION REGARDING STATE STATUTE; DISTRICT OF COLUMBIA. The Department of the Treasury is announcing that it has reviewed the recently enacted District of Columbia law adopting Revised Article 8 of the Uniform Commercial Code--Investment Securities ("Revised Article 8") and has determined that the portion of the "TRADES" rule in 31 CFR part 357, subpart B, requiring application of Revised Article 8 if a state has not adopted Revised Article 8 will no longer be applicable for the District of Columbia. Effective June 18, 1997

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31 CFR Parts 356 and 357 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes and Bonds; Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; CORRECTIONS. The document corrects the amendatory instructions for two revisions to 31 CFR part 356 and one in 31 CFR part 357, published in the Federal Registers of August 23, 1996, January 6, 1997 and April 11, 1997. The correction to sec. 356.17 is effective on January 1, 1997; the correction to sec. 356.12 is effective January 6, 1997; the correction to sec. 357.20 is effective March 10, 1997.

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Government Securities: Call for Large Position Reports; NOTICE. The Department of the Treasury called for the submission of Large Position Reports by those entities whose reportable positions in the 6 1/4% Treasury Notes of February 2007 equaled or exceeded $2 1/2 billion as of close of business June 6, 1997. Large Position Reports must be received before noon Eastern time on June 13, 1997.

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31 CFR Part 356 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds; FINAL RULE. This final rule codifies in the Code of Federal Regulations a change in the way the offering amounts for Treasury bill auctions are announced and auction amounts are awarded to the Federal Reserve Banks for their own account, also referred to as the System Open Market Account. Effective May 8, 1997.

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31 CFR Part 356 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds; CORRECTION. In proposed rule document 97-11582 beginning on page 24375 in the issue of Monday, May 5, 1997, make the following corrections:

1. On page 24375, third column, in the ADDRESSES section "Washington D.C. 20249-0001" should read "Washington D.C. 20239-0001."
2. On page 24375, third column, in the FOR FURTHER INFORMATION CONTACT section, "Ken Papj" should read "Ken Papaj".
3. On page 24376, third column, 14th line,"consistent" should read "inconsistent".

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31 CFR Part 356 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds; PROPOSED RULE. This proposed amendment makes the necessary changes to accommodate three decimal bidding, in .005 increments, and to reduce the net long position reporting threshold amount for Treasury bill auctions. The proposed rule also makes certain technical clarifications and conforming changes. Comments are due on or before June 4, 1997.

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31 CFR Part 351 Offering of United States Savings Bonds, Series EE; FINAL RULE. The rule amends the offering circular for Series EE United States Savings Bonds to change the rate structure for Series EE United States Savings Bonds with issue dates of May 1, 1997, or thereafter. Effective May 1, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; FINAL RULE. The rule reduces the number of days required for processing transaction requests affecting payment instructions, transaction requests affecting reinvestments on Treasury bills, and for the receipt of evidence supporting such transaction requests within the TreasuryDirect system from 20 calendar days to 10 business days. Effective April 16, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; FINAL RULE. The rule provides a new schedule for the provision of a statement of account and provides for the provision of a confirmation notice to the TreasuryDirect investor. This rule also provides that the statement of account and confirmation notice may be sent by electronic means. Effective March 10, 1997.

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17 CFR Part 404 Government Securities Act Regulations: RECORDKEEPING FINAL RULE. The rule clarifies the applicability of the federal bank regulatory agencies' rules, as adopted by the GSA rules, to financial institutions that are government securities brokers or dealers and to conform with current recordkeeping rule revisions being undertaken by the federal bank regulatory agencies. Effective April 30, 1997.

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Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act; NOTICE. For the period beginning January 1, 1997, and ending on June 30, 1997, the prompt payment interest rate is 6 3/8 per centum per annum.

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31 CFR Part 356 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds; FINAL RULE. This amendment makes changes necessary to accommodate the public offering of new Treasury inflation-indexed securities by the Department. In addition, the amendment makes certain technical clarifications and conforming changes. Effective January 6, 1997.

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31 CFR Part 354 Regulations Governing Book-Entry Securities of the Student Loan Marketing Association (Sallie Mae); FINAL RULE. The rule governs Sallie Mae book-entry securities and incorporates recent and significant changes in commercial law addressing the holding of securities in book-entry form through financial intermediaries. Effective January 6, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; DETERMINATION REGARDING STATE STATUTE; CALIFORNIA. The Department of the Treasury is announcing that it has reviewed the State of California's recently enacted law adopting Revised Article 8 of the Uniform Commercial Code--Investment Securities ("Revised Article 8") and has determined that the portion of the "TRADES" rule in 31 CFR part 357, subpart B, requiring application of Revised Article 8 if a state has not adopted Revised Article 8 will no longer be applicable for California. Effective January 2, 1997.

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