1998 Federal Register Items (July - December)

Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act; NOTICE.

For the period beginning January 1, 1999 and ending on June 30, 1999, the prompt payment interest rate is 5% (five) per centum per annum.

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Privacy Act of 1974: Systems of Records; NOTICE.

We are publishing the types of the systems of records that we maintain under the Privacy Act and the routine uses for which we use these system.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes and Bills; FINAL RULE.

The Department of the Treasury is publishing a final rule to amend its 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. Appendix B provides explanatory information regarding the regulations governing Treasury securities held in the commercial book-entry system, referred to as the Treasury/Reserve Automated Debt Entry System ("TRADES").

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Social Security Administration; NOTICE.

In accordance with the provisions of the Privacy Act, as amended, this notice announces a computer matching program that SSA plans to conduct with BPD.

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Treasury Directive Number 16-59

The Bureau of the Public Debt is delegated the authority to determine the eligible types of collateral, and methods of valuation thereof, that are acceptable to be pledged to secure deposits of public moneys and other financial interests of the government. Areas affected by this delegation include those governed by 31 CFR §§ 202, 203, and 225. BPD intends to issue new regulations (31 CFR 380) in the future addressing these matters.

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31 CFR Parts 317, 351, 353, and 370 Regulations Governing Agencies for the Issue and Offering of United States Savings Bonds, Including Sales by Electronic Means; FINAL RULE.

The Department of the Treasury hereby publishes a final rule governing the issue and offering of United States Savings Bonds. The final rule creates new categories of savings bond issuing agents and clarifies and expands the means by which savings bonds may be sold, including electronic means. Effective: November 20, 1998.

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Fee Structure for the Transfer of U.S. Treasury Book-Entry Securities Held in the National Book-Entry System; Notice.

The Department of the Treasury is announcing a new fee structure and fees to be charged starting February 1, 1999, on the transfer of book-entry Treasury securities between accounts maintained on the National Book-Entry System.

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Coupons Under Book-Entry Safekeeping (CUBES) and Bearer Corpora Conversion System (BECCS); Extension of Programs; NOTICE.

This notice is being published to announce the extension by the Department of the Treasury of its Coupons Under Book-Entry Safekeeping (CUBES) and its Bearer Corpora Conversion System (BECCS) programs, pursuant to 31 CFR part 358. In a notice published on March 6, 1998 (63 FR 11357), the previously announced conversion window for both CUBES and BECCS ended on October 9, 1998. Due to the popularity of the BECCS conversion program, the Department is extending the operation of the conversion window beyond October 9, 1998, and will continue to accept both stripped bearer corpora and detached bearer coupons for conversion to book-entry form until further notice. The Department of the Treasury will publish a notice in the Federal Register not less than thirty (30) calendar days prior to the effective ending date of the CUBES and BECCS conversion window.

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17 CFR Part 405 Office of the Assistant Secretary for Financial Markets; Government Securities Act Regulations: Reports and Audit; PROPOSED RULE.

The Department of the Treasury is publishing for comment a proposed amendment to the reporting requirements in Sec. 405.2 of the regulations issued under the Government Securities Act of 1986 ("GSA"), as amended. 17 CFR 405.2 of the GSA regulations requires entities registered with the Securities and Exchange Commission ("SEC") as specialized government securities brokers dealers under section 15C(a)(2) of the Securities Exchange Act of 1934 (the "Exchange Act") to comply with the requirements of section 240.17a-5 of the Exchange Act (SEC Rule 17a-5). On July 13, 1998, the SEC issued an amendment to SEC Rule 17a-5 that requires general purpose broker-dealers to file two reports regarding their year 2000 ("Y2K") readiness. This proposed amendment by the Department parallels the SEC's final Y2K reporting rules.

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31 CFR 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; Determination Regarding State Statutes; Wisconsin, New Hampshire and Michigan; Determination of substantially identical state statutes.

The Department of the Treasury is announcing that it has reviewed the statutes of Wisconsin, New Hampshire and Michigan 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 3 states.

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31 CFR Part 359 Offering Regulations for United States Savings Bonds, Series I; FINAL RULE.

The Department of the Treasury is publishing in final form an amendment to the offering circular for United States Series I savings bonds. The amendment is a technical change to accommodate the first Series I savings bond offering, effective September 1, 1998.

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31 CFR Parts 317, 321, 330, 359, and 360 Offering and Governing Regulations For United States Savings Bonds, Series I; Issuing and Paying Agents; and Payment; FINAL RULE.

The Department of the Treasury is publishing in final form new regulations providing an offering circular for United States Series I Savings Bonds, new regulations governing United States Series I Savings Bonds, and conforming amendments to existing regulations governing issuing and paying agents. The regulations provide for the public offering of new Treasury inflation-indexed savings bonds by the Department. The regulations also set forth the provisions governing transactions in inflation-indexed savings bonds. In addition, this rule makes certain technical clarifications and conforming changes. Effective: September 1, 1998.

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31 CFR Part 357 Regulations Governing Book-Entry Treasury Bonds, Notes, and Bills; Determination Regarding State Statutes; Georgia, Florida and Connecticut.

The Department of the Treasury is announcing that it has reviewed the statutes of Georgia, Florida and Connecticut 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 31CFR 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 3 states.

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