Discount Rates for Cost-Effectiveness Analysis of Federal Programs, 9284-9285 [2014-03161]
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9284
Federal Register / Vol. 79, No. 32 / Tuesday, February 18, 2014 / Notices
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V. Authority and Signature
David Michaels, Ph.D., MPH,
Assistant Secretary of Labor for
Occupational Safety and Health,
directed the preparation of this notice.
The authority for this notice is the
Paperwork Reduction Act of 1995 (44
U.S.C. 3506 et seq.) and Secretary of
Labor’s Order No. 1–2012 (77 FR 3912).
Signed at Washington, DC, on February 12,
2014.
David Michaels,
Assistant Secretary of Labor for Occupational
Safety and Health.
[FR Doc. 2014–03462 Filed 2–14–14; 8:45 am]
BILLING CODE 4510–26–P
discount rates in Appendix C are to be
used for cost-effectiveness analysis,
including lease-purchase analysis, as
specified in the revised Circular. They
do not apply to regulatory analysis.
The revised discount rates will
be in effect through December 2014.
DATES:
FOR FURTHER INFORMATION CONTACT:
Gideon F. Lukens, Office of Economic
Policy, Office of Management and
Budget, (202) 395–3316.
Dates: February 4, 2014.
Aviva R. Aron-Dine,
Associate Director for Economic Policy, Office
of Management and Budget.
Attachment
OMB Circular No. A–94
Appendix C
(Revised December 2013)
OFFICE OF MANAGEMENT AND
BUDGET
Discount Rates for Cost-Effectiveness
Analysis of Federal Programs
Office of Management and
Budget.
ACTION: Revisions to Appendix C of
OMB Circular A–94.
AGENCY:
The Office of Management
and Budget revised Circular A–94 in
1992. The revised Circular specified
certain discount rates to be updated
annually when the interest rate and
inflation assumptions used to prepare
the Budget of the United States
Government were changed. These
discount rates are found in Appendix C
of the revised Circular. The updated
discount rates are shown below. The
SUMMARY:
Discount Rates for Cost-Effectiveness, Lease
Purchase, and Related Analyses
Effective Dates. This appendix is updated
annually. This version of the appendix is
valid for calendar year 2014. A copy of the
updated appendix can be obtained in
electronic form through the OMB home page
at https://www.whitehouse.gov/omb/circulars_
a094/a94_appx-c/. The text of the Circular is
found at https://www.whitehouse.gov/omb/
circulars_a094/, and a table of past years’
rates is located at https://
www.whitehouse.gov/sites/default/files/omb/
assets/a94/dischist.pdf. Updates of the
appendix are also available upon request
from OMB’s Office of Economic Policy (202–
395–3316).
Nominal Discount Rates. A forecast of
nominal or market interest rates for calendar
year 2014 based on the economic
assumptions for the 2015 Budget is presented
below. These nominal rates are to be used for
discounting nominal flows, which are often
encountered in lease-purchase analysis.
NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[in percent]
3-Year
5-Year
7-Year
10-Year
20-Year
30-Year
1.0
1.9
2.5
3.0
3.6
3.9
tkelley on DSK3SPTVN1PROD with NOTICES
Real Discount Rates. A forecast of real
interest rates from which the inflation
premium has been removed and based on the
economic assumptions from the 2015 Budget
is presented below. These real rates are to be
used for discounting constant-dollar flows, as
is often required in cost-effectiveness
analysis.
REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[in percent]
3-Year
5-Year
7-Year
10-Year
20-Year
¥0.7
0.0
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20:58 Feb 14, 2014
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30-Year
9285
Federal Register / Vol. 79, No. 32 / Tuesday, February 18, 2014 / Notices
REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES—Continued
[in percent]
3-Year
5-Year
7-Year
10-Year
20-Year
30-Year
0.5
1.0
1.6
1.9
Analyses of programs with terms different
from those presented above may use a linear
interpolation. For example, a four-year
project can be evaluated with a rate equal to
the average of the three-year and five-year
rates. Programs with durations longer than 30
years may use the 30-year interest rate.
[FR Doc. 2014–03161 Filed 2–14–14; 8:45 am]
BILLING CODE P
MILITARY COMPENSATION AND
RETIREMENT MODERNIZATION
COMMISSION
Meeting of the Military Compensation
and Retirement Modernization
Commission
Military Compensation and
Retirement Modernization Commission.
ACTION: Notice of Public Meetings and
Town Hall Meeting.
AGENCY:
The Military Compensation
and Retirement Modernization
Commission (Commission) was
established by National Defense
Authorization Act, FY 2013. Pursuant to
the Act, the Commission is holding
public hearings and a town hall in order
to solicit comments from the general
public and select experts on the
modernization of the military
compensation and retirement systems.
DATES: The hearings and town hall will
be held Tuesday, February 25, 2014.
ADDRESSES: The hearings and town hall
will be held at the Embassy Suites
Fayetteville Fort Bragg, 4760 Lake
Valley Drive, Fayetteville, North
Carolina 28303.
FOR FURTHER INFORMATION CONTACT:
Christopher Nuneviller, Associate
Director, Military Compensation and
Retirement Modernization Commission,
PO Box 13170, Arlington VA 22209,
telephone 703–692–2080, fax 703–697–
8330, email christopher.nuneviller@
mcrmc.gov.
SUPPLEMENTARY INFORMATION: The
Military Compensation and Retirement
Modernization Commission
(Commission) was established by the
National Defense Authorization Act FY
2013, Public Law 112–239, § 671,
(amended by National Defense
Authorization Act FY 2014, Pub. L.
tkelley on DSK3SPTVN1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
20:58 Feb 14, 2014
Jkt 232001
113–66, § 1095). The Commission will
conduct public hearings and town halls
across the United States and on select
military installations internationally in
order to solicit comments on the
modernization of the military
compensation and retirement systems.
The Commission seeks the views of
service members, retirees, their
beneficiaries and other interested
parties regarding pay, retirement, health
benefits and quality of life programs of
the Uniformed Services. The
Commission will hear from senior
commanders of local military
commands and their senior enlisted
advisors, unit commanders and their
family support groups, local medical
and education community
representatives, and other quality of life
organizations. These meetings sites will
be accessible to members of the general
public including individuals with
disabilities.
On February 25, 2014, the
Commission will hold public hearings
from 10:00 a.m. until 5:00 p.m., and a
public town hall meeting from 7:00 p.m.
until 9:00 p.m.
February 25, 2014 Agenda
10:00 a.m. to 12:00 p.m. Senior Local
Military Commanders and Senior
Enlisted Advisors
1:30 p.m. to 3:00 p.m. Local Military/
Veteran Transition Service
Organizations
3:15 p.m. to 5:00 p.m. Department of
Defense and Local Schools
7:00 p.m. to 9:00 p.m. Town Hall
The Panel Testimony heard on
Tuesday, February 25, 2014, will consist
of:
a. Brief opening remarks by the
Chairman and one or more of the
Commissioners,
b. brief opening remarks by each
panelist, and
c. questions posed by the Chairman
and Commissioners to the panelists.
On the evening of Tuesday, February
25, 2014, the Chairman and
Commissioners will hear from the
public. Attendees will be given an
opportunity to address the Chairman
and Commissioners and relay to them
their experience and comments.
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Due to the deliberative, nascent and
formative nature of the Commission’s
work, the Commissioners are unable to
discuss their thoughts, plans or
intentions for specific recommendations
that will ultimately be made to the
President and Congress.
The public hearings will be
transcribed and placed on the
Commission’s Web site. In addition to
public hearings, and due to the essential
need for input from the beneficiaries,
the Commission is accepting and
strongly encourages comments and
other submissions on its Web site
(www.mcrmc.gov).
Christopher Nuneviller,
Associate Director, Administration and
Operations.
[FR Doc. 2014–03369 Filed 2–14–14; 8:45 am]
BILLING CODE P
NATIONAL TRANSPORTATION
SAFETY BOARD
[Docket No. NTSB–GC–2013–0001]
Plan for Generic Information Collection
Activity: Submission for OMB Review;
Comment Request
National Transportation Safety
Board (NTSB).
ACTION: Notice.
AGENCY:
In compliance with the
Paperwork Reduction Act (PRA), this
notice announces the NTSB is
submitting an Information Collection
Request (ICR), described below, to the
Office of Management and Budget
(OMB) for generic approval of witness
and passenger questionnaires. This ICR
is the second notice, as required by
OMB regulations concerning approvals
of information collections. This notice
again describes the nature of the
information collection and its expected
burden and advises the public it may
submit comments on this proposed
generic information collection to the
OMB desk officer for the NTSB.
DATES: Submit written comments
regarding this proposed plan for the
collection of information by March 20,
2014.
SUMMARY:
E:\FR\FM\18FEN1.SGM
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]]>Agencies
[Federal Register Volume 79, Number 32 (Tuesday, February 18, 2014)]
[Notices]
[Pages 9284-9285]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-03161]
=======================================================================
-----------------------------------------------------------------------
OFFICE OF MANAGEMENT AND BUDGET
Discount Rates for Cost-Effectiveness Analysis of Federal
Programs
AGENCY: Office of Management and Budget.
ACTION: Revisions to Appendix C of OMB Circular A-94.
-----------------------------------------------------------------------
SUMMARY: The Office of Management and Budget revised Circular A-94 in
1992. The revised Circular specified certain discount rates to be
updated annually when the interest rate and inflation assumptions used
to prepare the Budget of the United States Government were changed.
These discount rates are found in Appendix C of the revised Circular.
The updated discount rates are shown below. The discount rates in
Appendix C are to be used for cost-effectiveness analysis, including
lease-purchase analysis, as specified in the revised Circular. They do
not apply to regulatory analysis.
DATES: The revised discount rates will be in effect through December
2014.
FOR FURTHER INFORMATION CONTACT: Gideon F. Lukens, Office of Economic
Policy, Office of Management and Budget, (202) 395-3316.
Dates: February 4, 2014.
Aviva R. Aron-Dine,
Associate Director for Economic Policy, Office of Management and
Budget.
Attachment
OMB Circular No. A-94
Appendix C
(Revised December 2013)
Discount Rates for Cost-Effectiveness, Lease Purchase, and Related
Analyses
Effective Dates. This appendix is updated annually. This version
of the appendix is valid for calendar year 2014. A copy of the
updated appendix can be obtained in electronic form through the OMB
home page at https://www.whitehouse.gov/omb/circulars_a094/a94_appx-c/. The text of the Circular is found at https://www.whitehouse.gov/omb/circulars_a094/, and a table of past years'
rates is located at https://www.whitehouse.gov/sites/default/files/omb/assets/a94/dischist.pdf. Updates of the appendix are also
available upon request from OMB's Office of Economic Policy (202-
395-3316).
Nominal Discount Rates. A forecast of nominal or market interest
rates for calendar year 2014 based on the economic assumptions for
the 2015 Budget is presented below. These nominal rates are to be
used for discounting nominal flows, which are often encountered in
lease-purchase analysis.
Nominal Interest Rates on Treasury Notes and Bonds of Specified Maturities
[in percent]
----------------------------------------------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
----------------------------------------------------------------------------------------------------------------
1.0
1.9
2.5
3.0
3.6
3.9
----------------------------------------------------------------------------------------------------------------
Real Discount Rates. A forecast of real interest rates from
which the inflation premium has been removed and based on the
economic assumptions from the 2015 Budget is presented below. These
real rates are to be used for discounting constant-dollar flows, as
is often required in cost-effectiveness analysis.
Real Interest Rates on Treasury Notes and Bonds of Specified Maturities
[in percent]
----------------------------------------------------------------------------------------------------------------
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
----------------------------------------------------------------------------------------------------------------
-0.7
0.0
[[Page 9285]]
0.5
1.0
1.6
1.9
----------------------------------------------------------------------------------------------------------------
Analyses of programs with terms different from those presented
above may use a linear interpolation. For example, a four-year
project can be evaluated with a rate equal to the average of the
three-year and five-year rates. Programs with durations longer than
30 years may use the 30-year interest rate.
[FR Doc. 2014-03161 Filed 2-14-14; 8:45 am]
BILLING CODE P
