United States Savings Bonds, Series EE, HH and I, 66855-66856 [2011-27740]
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Federal Register / Vol. 76, No. 209 / Friday, October 28, 2011 / Rules and Regulations
DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Parts 351, 353, 359, and 360
United States Savings Bonds, Series
EE, HH and I
Bureau of the Public Debt,
Fiscal Service, Treasury.
ACTION: Final rule.
AGENCY:
Treasury is discontinuing the
over-the-counter sales of definitive
(paper) savings bonds. This includes
sales through financial institutions and
mail-in orders. The elimination of
definitive savings bond issuances will
reduce program costs, enhance customer
service, and minimize environmental
impact.
SUMMARY:
Effective date: January 1, 2012.
ADDRESSES: You can download this
Final Rule at the following Internet
addresses: https://
www.publicdebt.treas.gov, https://
www.gpo.gov, or https://
www.regulations.gov.
DATES:
FOR FURTHER INFORMATION CONTACT:
Elisha Whipkey, Director, Division of
Program Administration, Office of Retail
Securities, Bureau of the Public Debt, at
(304) 480–6319 or
elisha.whipkey@bpd.treas.gov.
David Copenhaver, Senior Attorney,
Ann Fowler, Attorney-Adviser, Dean
Adams, Assistant Chief Counsel,
Edward Gronseth, Deputy Chief
Counsel, Office of the Chief Counsel,
Bureau of the Public Debt, at (304) 480–
8692 or
david.copenhaver@bpd.treas.gov.
United
States Savings Bonds are nonmarketable Treasury securities which
have been sold continuously since
March 1935. Savings bonds were
introduced as a means of encouraging
broad public participation in
government financing by making
Treasury securities available in small
denominations specially tailored to the
small investor. Savings bonds continue
to be an important savings and
investment tool for individuals, and
Treasury is committed to offering
savings bonds to the public as
efficiently as possible.
Treasury made savings bonds
available in electronic (book-entry) form
through the TreasuryDirect® system in
2002, and savings bonds will continue
to be available electronically. However,
the issuance of paper (definitive)
savings bonds will be discontinued as of
January 1, 2012. The elimination of
definitive savings bond issuances will
tkelley on DSK3SPTVN1PROD with RULES
SUPPLEMENTARY INFORMATION:
VerDate Mar<15>2010
14:34 Oct 27, 2011
Jkt 226001
reduce program costs, enhance customer
service, and minimize environmental
impact.
Although no new paper savings bonds
will be issued after the effective date,
this change does not impact the ability
to hold or redeem existing paper bonds.
Individuals will also be able to obtain
paper Series I savings bonds with their
tax refunds through Internal Revenue
Service Form 8888.
Procedural Requirements
Executive Order 12866. This rule is
not a significant regulatory action
pursuant to Executive Order 12866.
Administrative Procedure Act (APA).
Because this rule relates to United
States securities, which are contracts
between Treasury and the owner of the
security, this rule falls within the
contract exception to the APA, 5 U.S.C.
553(a)(2). As a result, the notice, public
comment, and delayed effective date
provisions of the APA are inapplicable
to this rule.
Regulatory Flexibility Act. The
provisions of the Regulatory Flexibility
Act, 5 U.S.C. 601 et seq., do not apply
to this rule because, pursuant to 5
U.S.C. 553(a)(2), it is not required to be
issued with notice and opportunity for
public comment.
Paperwork Reduction Act (PRA). We
ask for no new collections of
information in this final rule. Therefore,
the Paperwork Reduction Act (44 U.S.C.
3501 et seq.) does not apply.
Congressional Review Act (CRA). This
rule is not a major rule pursuant to the
CRA, 5 U.S.C. 801 et seq., because it is
a minor amendment that is expected to
decrease costs for taxpayers; therefore,
this rule is not expected to lead to any
of the results listed in 5 U.S.C. 804(2).
This rule will take effect January 1,
2012, after we submit a copy of it to
Congress and the Comptroller General.
List of Subjects
66855
PART 351—OFFERING OF UNITED
STATES SAVINGS BONDS, SERIES EE
1. The authority citation for part 351
continues to read as follows:
■
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105.
■
2. Revise § 351.4 to read as follows:
§ 351.4 In what form are Series EE savings
bonds issued?
Series EE savings bonds are issued in
book-entry form. Effective January 1,
2012, Treasury discontinued the
issuance of definitive Series EE savings
bonds.
■ 3. Revise § 351.40 to read as follows:
§ 351.40 What were the denominations and
prices of definitive Series EE savings
bonds?
Prior to January 1, 2012, we issued
definitive Series EE savings bonds in
denominations of $50, $75, $100, $200,
$500, $1000, $5000, and $10,000. The
purchase price was one-half the amount
of the denomination.
■ 4. Revise § 351.42 to read as follows:
§ 351.42 What is the issue date of a
definitive series EE savings bond?
The issue date of a definitive bond is
the first day of the month in which an
authorized issuing agent received
payment of the issue price.
■ 5. Revise the last sentence of § 351.43
to read as follows:
§ 351.43 Are Taxpayer Identification
Numbers (TINs) required for the registration
of definitive series EE savings bonds?
* * * If the bond was purchased as
a gift or award and the owner’s TIN is
not known, the TIN of the purchaser
must be included in the registration of
the bond.
■ 6. Remove and reserve § 351.44
through § 351.45.
■ 7. Revise § 351.46 to read as follows:
31 CFR Part 351
Bonds, Federal Reserve System,
Government Securities.
§ 351.46 May I purchase definitive Series
EE savings bonds over-the-counter?
Effective January 1, 2012, Treasury
discontinued the over-the-counter sale
of definitive Series EE savings bonds.
■ 8. Remove and reserve § 351.83.
31 CFR Part 353
Bonds, Federal Reserve System,
Government Securities.
31 CFR Part 359
Bonds, Federal Reserve System,
Government Securities.
Bonds, Federal Reserve System,
Government Securities.
Accordingly, for the reasons set out in
the preamble, 31 CFR Chapter II,
Subchapter B, is amended as follows:
Frm 00007
Fmt 4700
9. The authority citation for part 353
continues to read as follows:
■
31 CFR Part 360
PO 00000
PART 353—REGULATIONS
GOVERNING DEFINITIVE UNITED
STATES SAVINGS BONDS, SERIES EE
AND HH
Sfmt 4700
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105, 3125.
10. Amend § 353.5 by revising the first
sentence of paragraph (a) and the first
■
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28OCR1
66856
Federal Register / Vol. 76, No. 209 / Friday, October 28, 2011 / Rules and Regulations
sentence of paragraph (c) to read as
follows:
§ 359.27 What is the issue date of a
definitive Series I savings bond?
DEPARTMENT OF COMMERCE
§ 353.5
The issue date of a definitive bond is
the first day of the month in which an
authorized issuing agent received
payment of the issue price.
National Oceanic and Atmospheric
Administration
17. Revise the last sentence of
§ 359.28 to read as follows:
[Docket No. 110818511–1641–03]
§ 359.28 Are Taxpayer Identification
Numbers (TINs) required for the registration
of definitive series I savings bonds?
Fisheries of the Northeastern United
States; Northeast Skate Complex
Fishery; Secretarial Emergency Action
General rules.
(a) Registration is conclusive of
ownership. Definitive savings bonds
were issued only in registered form.
* * *
*
*
*
*
*
(c) Registration of bonds purchased as
gifts. If the bonds were purchased as
gifts, awards, prizes, etc., and the
taxpayer identifying numbers of the
intended owners are not known, the
purchaser’s number must be furnished.
* * *
■ 11. Amend § 353.30 by revising the
first sentence to read as follows:
§ 353.30
Series EE bonds.
Definitive Series EE bonds were
issued at a discount. * * *
■ 12. Revise § 353.45 to read as follows:
§ 353.45
General.
(a) Reissue of a bond may be made
only under the conditions specified in
these regulations, and only at:
(1) A Federal Reserve Bank or Branch,
or
(2) The Bureau of the Public Debt.
(b) Reissue will not be made if the
request is received less than one full
calendar month before the final maturity
date of a bond. The request, however,
will be effective to establish ownership
as though the requested reissue had
been made. We reserve the right to
reissue savings bonds in book-entry
form only.
PART 359—OFFERING OF UNITED
STATES SAVINGS BONDS, SERIES I
13. The authority citation for part 359
continues to read as follows:
■
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105.
■
14. Revise § 359.4 to read as follows:
§ 359.4 In what form are Series I savings
bonds issued?
Series I savings bonds are issued in
book-entry form. Effective January 1,
2012, Treasury discontinued the
issuance of definitive Series I savings
bonds.
■ 15. Revise § 359.25 to read as follows:
tkelley on DSK3SPTVN1PROD with RULES
§ 359.25 What were the denominations and
prices of definitive Series I savings bonds?
Prior to January 1, 2012, definitive
Series I savings bonds were issued in
denominations of $50, $75, $100, $200,
$500, $1,000, $5,000, and $10,000.
These definitive bonds were sold at par;
that is, the purchase price was the same
as the denomination (face value).
■ 16. Revise § 359.27 to read as follows:
VerDate Mar<15>2010
14:34 Oct 27, 2011
Jkt 226001
■
* * * If the bond was purchased as
a gift or award and the owner’s TIN is
not known, the TIN of the purchaser
must be included in the registration of
the bond.
18. Remove and reserve § 359.29
through § 359.33.
■
■
19. Revise § 359.34 to read as follows:
§ 359.34 May I purchase definitive Series I
savings bonds over-the-counter?
Effective January 1, 2012, Treasury
discontinued the over-the-counter sale
of definitive Series I savings bonds.
■
20. Remove and reserve § 359.68.
PART 360—REGULATIONS
GOVERNING DEFINITIVE UNITED
STATES SAVINGS BONDS, SERIES I
21. The authority citation for part 360
continues to read as follows:
■
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105.
22. Amend § 360.5 by revising the first
sentence of paragraph (a) and the first
sentence of paragraph (c) to read as
follows:
■
§ 360.5
General rules.
(a) Registration is conclusive of
ownership. Definitive savings bonds
were issued only in registered form.
* * *
*
*
*
*
*
(c) Registration of bonds purchased as
gifts. If the bonds were purchased as
gifts, awards, prizes, etc., and the
taxpayer identifying numbers of the
intended owners are not known, the
purchaser’s number must be furnished.
* * *
■ 23. Amend § 360.45 by adding the
following sentence at the end of the
section:
§ 360.45
General.
* * * We reserve the right to reissue
savings bonds in book-entry form only.
Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2011–27740 Filed 10–27–11; 8:45 am]
BILLING CODE 4810–39–P
PO 00000
Frm 00008
Fmt 4700
Sfmt 4700
50 CFR Part 648
RIN 0648–BB32
National Marine Fisheries
Service (NMFS), National Oceanic and
Atmospheric Administration (NOAA),
Commerce.
ACTION: Temporary rule; emergency
action.
AGENCY:
This final rule increases catch
limits in the Northeast skate fishery for
the remainder of the 2011 fishing year.
The increases are supported by the
latest scientific information that shows
significant increases in the abundance
of skates, and are intended to provide a
significant economic opportunity while
still protecting skates from overfishing.
DATES: Effective November 28, 2011,
through April 30, 2012.
ADDRESSES: A supplemental
environmental assessment (EA) was
prepared for this action. The
supplemental EA describes the action
and provides a thorough analysis of the
impacts of the proposed measures and
other alternatives that were considered.
Copies of the supplemental EA and the
Initial Regulatory Flexibility Analysis
(IRFA), are available on request from
Patricia A. Kurkul, Regional
Administrator, NMFS, Northeast
Regional Office, 55 Great Republic
Drive, Gloucester, MA 01930. These
documents are also available online at
https://www.nero.noaa.gov.
FOR FURTHER INFORMATION CONTACT:
Tobey Curtis, Fishery Policy Analyst,
(978) 281–9273; fax: (978) 281–9135.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The New England Fishery
Management Council (Council) manages
skate fisheries in the northeastern U.S.
through the Northeast Skate Complex
Fishery Management Plan (Skate FMP).
Seven skate species are managed under
the Skate FMP: Winter, little, thorny,
barndoor, smooth, clearnose, and
rosette. The Council’s Scientific and
Statistical Committee reviews the best
available information on the status of
skate populations, and makes
recommendations on acceptable
biological catch (ABC) for the skate
complex (all seven species). This
E:\FR\FM\28OCR1.SGM
28OCR1
]]>Agencies
[Federal Register Volume 76, Number 209 (Friday, October 28, 2011)]
[Rules and Regulations]
[Pages 66855-66856]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-27740]
[[Page 66855]]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Parts 351, 353, 359, and 360
United States Savings Bonds, Series EE, HH and I
AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: Treasury is discontinuing the over-the-counter sales of
definitive (paper) savings bonds. This includes sales through financial
institutions and mail-in orders. The elimination of definitive savings
bond issuances will reduce program costs, enhance customer service, and
minimize environmental impact.
DATES: Effective date: January 1, 2012.
ADDRESSES: You can download this Final Rule at the following Internet
addresses: https://www.publicdebt.treas.gov, https://www.gpo.gov, or
https://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: Elisha Whipkey, Director, Division of
Program Administration, Office of Retail Securities, Bureau of the
Public Debt, at (304) 480-6319 or elisha.whipkey@bpd.treas.gov.
David Copenhaver, Senior Attorney, Ann Fowler, Attorney-Adviser,
Dean Adams, Assistant Chief Counsel, Edward Gronseth, Deputy Chief
Counsel, Office of the Chief Counsel, Bureau of the Public Debt, at
(304) 480-8692 or david.copenhaver@bpd.treas.gov.
SUPPLEMENTARY INFORMATION: United States Savings Bonds are non-
marketable Treasury securities which have been sold continuously since
March 1935. Savings bonds were introduced as a means of encouraging
broad public participation in government financing by making Treasury
securities available in small denominations specially tailored to the
small investor. Savings bonds continue to be an important savings and
investment tool for individuals, and Treasury is committed to offering
savings bonds to the public as efficiently as possible.
Treasury made savings bonds available in electronic (book-entry)
form through the TreasuryDirect[supreg] system in 2002, and savings
bonds will continue to be available electronically. However, the
issuance of paper (definitive) savings bonds will be discontinued as of
January 1, 2012. The elimination of definitive savings bond issuances
will reduce program costs, enhance customer service, and minimize
environmental impact.
Although no new paper savings bonds will be issued after the
effective date, this change does not impact the ability to hold or
redeem existing paper bonds. Individuals will also be able to obtain
paper Series I savings bonds with their tax refunds through Internal
Revenue Service Form 8888.
Procedural Requirements
Executive Order 12866. This rule is not a significant regulatory
action pursuant to Executive Order 12866.
Administrative Procedure Act (APA). Because this rule relates to
United States securities, which are contracts between Treasury and the
owner of the security, this rule falls within the contract exception to
the APA, 5 U.S.C. 553(a)(2). As a result, the notice, public comment,
and delayed effective date provisions of the APA are inapplicable to
this rule.
Regulatory Flexibility Act. The provisions of the Regulatory
Flexibility Act, 5 U.S.C. 601 et seq., do not apply to this rule
because, pursuant to 5 U.S.C. 553(a)(2), it is not required to be
issued with notice and opportunity for public comment.
Paperwork Reduction Act (PRA). We ask for no new collections of
information in this final rule. Therefore, the Paperwork Reduction Act
(44 U.S.C. 3501 et seq.) does not apply.
Congressional Review Act (CRA). This rule is not a major rule
pursuant to the CRA, 5 U.S.C. 801 et seq., because it is a minor
amendment that is expected to decrease costs for taxpayers; therefore,
this rule is not expected to lead to any of the results listed in 5
U.S.C. 804(2). This rule will take effect January 1, 2012, after we
submit a copy of it to Congress and the Comptroller General.
List of Subjects
31 CFR Part 351
Bonds, Federal Reserve System, Government Securities.
31 CFR Part 353
Bonds, Federal Reserve System, Government Securities.
31 CFR Part 359
Bonds, Federal Reserve System, Government Securities.
31 CFR Part 360
Bonds, Federal Reserve System, Government Securities.
Accordingly, for the reasons set out in the preamble, 31 CFR
Chapter II, Subchapter B, is amended as follows:
PART 351--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES EE
0
1. The authority citation for part 351 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
0
2. Revise Sec. 351.4 to read as follows:
Sec. 351.4 In what form are Series EE savings bonds issued?
Series EE savings bonds are issued in book-entry form. Effective
January 1, 2012, Treasury discontinued the issuance of definitive
Series EE savings bonds.
0
3. Revise Sec. 351.40 to read as follows:
Sec. 351.40 What were the denominations and prices of definitive
Series EE savings bonds?
Prior to January 1, 2012, we issued definitive Series EE savings
bonds in denominations of $50, $75, $100, $200, $500, $1000, $5000, and
$10,000. The purchase price was one-half the amount of the
denomination.
0
4. Revise Sec. 351.42 to read as follows:
Sec. 351.42 What is the issue date of a definitive series EE savings
bond?
The issue date of a definitive bond is the first day of the month
in which an authorized issuing agent received payment of the issue
price.
0
5. Revise the last sentence of Sec. 351.43 to read as follows:
Sec. 351.43 Are Taxpayer Identification Numbers (TINs) required for
the registration of definitive series EE savings bonds?
* * * If the bond was purchased as a gift or award and the owner's
TIN is not known, the TIN of the purchaser must be included in the
registration of the bond.
0
6. Remove and reserve Sec. 351.44 through Sec. 351.45.
0
7. Revise Sec. 351.46 to read as follows:
Sec. 351.46 May I purchase definitive Series EE savings bonds over-
the-counter?
Effective January 1, 2012, Treasury discontinued the over-the-
counter sale of definitive Series EE savings bonds.
0
8. Remove and reserve Sec. 351.83.
PART 353--REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS
BONDS, SERIES EE AND HH
0
9. The authority citation for part 353 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105, 3125.
0
10. Amend Sec. 353.5 by revising the first sentence of paragraph (a)
and the first
[[Page 66856]]
sentence of paragraph (c) to read as follows:
Sec. 353.5 General rules.
(a) Registration is conclusive of ownership. Definitive savings
bonds were issued only in registered form. * * *
* * * * *
(c) Registration of bonds purchased as gifts. If the bonds were
purchased as gifts, awards, prizes, etc., and the taxpayer identifying
numbers of the intended owners are not known, the purchaser's number
must be furnished. * * *
0
11. Amend Sec. 353.30 by revising the first sentence to read as
follows:
Sec. 353.30 Series EE bonds.
Definitive Series EE bonds were issued at a discount. * * *
0
12. Revise Sec. 353.45 to read as follows:
Sec. 353.45 General.
(a) Reissue of a bond may be made only under the conditions
specified in these regulations, and only at:
(1) A Federal Reserve Bank or Branch, or
(2) The Bureau of the Public Debt.
(b) Reissue will not be made if the request is received less than
one full calendar month before the final maturity date of a bond. The
request, however, will be effective to establish ownership as though
the requested reissue had been made. We reserve the right to reissue
savings bonds in book-entry form only.
PART 359--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES I
0
13. The authority citation for part 359 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
0
14. Revise Sec. 359.4 to read as follows:
Sec. 359.4 In what form are Series I savings bonds issued?
Series I savings bonds are issued in book-entry form. Effective
January 1, 2012, Treasury discontinued the issuance of definitive
Series I savings bonds.
0
15. Revise Sec. 359.25 to read as follows:
Sec. 359.25 What were the denominations and prices of definitive
Series I savings bonds?
Prior to January 1, 2012, definitive Series I savings bonds were
issued in denominations of $50, $75, $100, $200, $500, $1,000, $5,000,
and $10,000. These definitive bonds were sold at par; that is, the
purchase price was the same as the denomination (face value).
0
16. Revise Sec. 359.27 to read as follows:
Sec. 359.27 What is the issue date of a definitive Series I savings
bond?
The issue date of a definitive bond is the first day of the month
in which an authorized issuing agent received payment of the issue
price.
0
17. Revise the last sentence of Sec. 359.28 to read as follows:
Sec. 359.28 Are Taxpayer Identification Numbers (TINs) required for
the registration of definitive series I savings bonds?
* * * If the bond was purchased as a gift or award and the owner's
TIN is not known, the TIN of the purchaser must be included in the
registration of the bond.
0
18. Remove and reserve Sec. 359.29 through Sec. 359.33.
0
19. Revise Sec. 359.34 to read as follows:
Sec. 359.34 May I purchase definitive Series I savings bonds over-
the-counter?
Effective January 1, 2012, Treasury discontinued the over-the-
counter sale of definitive Series I savings bonds.
0
20. Remove and reserve Sec. 359.68.
PART 360--REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS
BONDS, SERIES I
0
21. The authority citation for part 360 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
0
22. Amend Sec. 360.5 by revising the first sentence of paragraph (a)
and the first sentence of paragraph (c) to read as follows:
Sec. 360.5 General rules.
(a) Registration is conclusive of ownership. Definitive savings
bonds were issued only in registered form. * * *
* * * * *
(c) Registration of bonds purchased as gifts. If the bonds were
purchased as gifts, awards, prizes, etc., and the taxpayer identifying
numbers of the intended owners are not known, the purchaser's number
must be furnished. * * *
0
23. Amend Sec. 360.45 by adding the following sentence at the end of
the section:
Sec. 360.45 General.
* * * We reserve the right to reissue savings bonds in book-entry
form only.
Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2011-27740 Filed 10-27-11; 8:45 am]
BILLING CODE 4810-39-P
