1997 Federal Register Items (July - December)

Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act; NOTICE. For the period beginning January 1, 1998, and ending on June 30, 1998, the prompt payment interest rate is 6.25% (6 1/4) per centum per annum.

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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 includes changes necessary to make fungible stripped interest components for Treasury inflation-indexed securities, which the Department began issuing in January 1997. In addition, the proposed amendment makes certain technical clarifications and conforming changes. Comments are due on or before February 6, 1998. [The only received comment is available].

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; DETERMINATION REGARDING STATE STATUTES. The Department of the Treasury is announcing that it has reviewed the statutes of 13 states which have recently enacted laws adopting Revised Article 8 of the Uniform Commercial Code--Investment Securities ("Revised Article 8") and determined that they are substantially identical to the uniform version of Revised Article 8 for purposes of interpreting the rules in 31 CFR Part 357, Subpart B (the "TRADES" regulations). Therefore, that portion of the TRADES rule requiring application of Revised Article 8 if a state has not adopted Revised Article 8 will no longer be applicable for those 13 states. Effective November 20, 1997.

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1998 Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held at Federal Reserve Banks. The Department of the Treasury is announcing the schedule of fees to be charged in 1998 on the transfer of book-entry Treasury securities between depository institution accounts maintained at Federal Reserve Banks and Branches, as well as transfers to and from Federal Reserve Bank accounts. Effective January 1, 1998.

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31 CFR Part 343 Regulations Governing the Offering of United States Mortgage Guaranty Insurance Company Tax and Loss Bonds; FINAL RULE. The rule amends the regulations governing United States Mortgage Guaranty Insurance Company Tax and Loss Bonds, referred to as tax and loss bonds. This final rule will reduce administrative overhead and costs by providing that on or after the effective date of the regulation, the securities will only be offered in book-entry form and that existing securities may, at the option of the holder, be converted to book-entry form. It will also provide for maturities of either ten or twenty years. Minor changes to redemption notices have been added and all addresses have been updated. Effective September 24, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; FINAL RULE. The rule will offer investors holding Treasury marketable securities within the TreasuryDirect system the option of having Treasury, through a designated Federal Reserve Bank, acting as fiscal agent of the United States, sell such securities in the secondary market. Effective September 4, 1997.

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Fee Schedule for the Service to the TreasuryDirect Investor of Selling Securities Held in TreasuryDirect Accounts in the Secondary Market; NOTICE.The Department of the Treasury is announcing the schedule of fees to be charged to the TreasuryDirect investor for the service of selling unmatured securities held in TreasuryDirect in the secondary market. Effective September 4, 1997.

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31 CFR Part 344 Regulations Governing United States Treasury Certificates of Indebtedness, Treasury Notes, and Treasury Bonds--State and Local Government Series; FINAL RULE. The rule clarifies that the use of State and Local Government Series securities for option purposes is prohibited. Effective September 3, 1997.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; FINAL RULE. The rule amends the "TRADES" Commentary, (Appendix B of 31 CFR part 357), to update the list of states that have enacted Revised Article 8 of the Uniform Commercial Code and that were the subject of prior notices published by Treasury in the Federal Register. Effective August 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 amendment makes the necessary changes to accommodate three decimal competitive bidding, in .005 percent increments, for regular Treasury bills--13-, 26-, and 52- week bills--and to reduce the net long position reporting threshold amount for all Treasury bill auctions (including cash management bills). The final rule also makes certain technical clarifications and conforming changes. The effective date is September 11, 1997; however, the effective date for sec. 356.13 (net long position) is November 10, 1997.

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31 CFR Part 27 Civil Penalty Assessment for Misuse of Department of the Treasury Names, Symbols, Etc.; INTERIM RULE. The rule sets forth the procedures by which civil penalties may be imposed for violations of the statutory prohibition against misuse of Department of the Treasury names, symbols, titles, abbreviations, initials, seals, or badges. Effective August 6, 1997.

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31 CFR Part 27 Civil Penalty Assessment for Misuse of Department of the Treasury Names, Symbols, Etc.; NOTICE OF PROPOSED RULEMAKING BY CROSS-REFERENCE TO INTERIM REGULATIONS. The interim regulations published today setting forth the procedures by which civil penalties will be imposed for violations of the statutory prohibition against misuse of Department of the Treasury names, symbols, titles, abbreviations, initials, seals, or badges also serve as the text of this notice of proposed rulemaking for final regulations. Comments are due on or before October 6, 1997.

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Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act; NOTICE. For the period beginning July 1, 1997, and ending on December 31, 1997, the prompt payment interest rate is 6.75% (6 3/4 per centum) per annum.

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