Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the National Book-Entry System, 75487-75488 [2016-26079]

Download as PDF Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices sradovich on DSK3GMQ082PROD with NOTICES eliminate the ability of consumers to identify the most suitable flight options? Is there information to suggest that many airlines will eventually withhold flight information entirely from all or most Web sites that offer flight search tools? How many consumers would fail to investigate more than one airline Web site, with the result that they may not locate the optimal itinerary or fare? If it is essential for consumers to be able to view as many airline flight options as possible on OTA and metasearch entity Web sites to identify the best flight options, what information is essential? Is schedule information sufficient or are both schedule and fare information necessary? Do consumers need availability information to identify the best flight options? We note that airlines create fare rules and generally do not allow certain combinations of flight segments. Are consumers less likely to combine oneway fares when searching for an itinerary on multiple airline Web sites rather than a ticket agent Web site due to the amount of time it may take to identify these flights and pair them together by making multiple purchases? We note that some airlines are placing restrictions on OTAs and metasearch entity Web sites preventing them from displaying codeshare flights, which at times may be the cheapest or most efficient flight options for consumers. Are consumers less likely to discover these codeshare flight options when airlines restrict the display of these flights on OTA and metasearch Web sites? Can consumers gain access to the same information by visiting airline Web sites directly? Is Department action in connection with airline distribution practices necessary to ensure consumers have the information they need to make informed choices? links to OTAs impact price competition? If restrictions placed on the distribution and/or display of airline flight information limits the flight options available on Web sites operating flight search tools that market multiple airlines, has that limitation in options lead to higher prices for consumers? If so, how? How would restrictions in the future potentially lead to higher prices? It is our understanding that most airlines do not permit fare ‘‘discounting’’ by OTAs. Are OTAs or metasearch entities that operate flight search tools able to identify fares that are lower than fares that can be found on airline Web sites? Do OTAs receive discounts from GDSs which allow them to then price flights lower than airlines? Some ticket agents have stated that flight search tools are able to identify lower prices on OTA Web sites than are available on airline Web sites and that the lower fare or both fares are displayed absent any airline restriction. If lower prices are identified by OTAs, do these prices serve as a competitive check on airline prices when displayed on flight search tools adjacent to the prices offered by airlines? In the past, OTAs negotiated special deals, rates, and promotions from airlines that resulted in consumers obtaining discounted fares. More recently, it is our understanding that contractual arrangements between airlines, GDSs, and OTAs generally include provisions that prevent OTAs or airlines from offering discounted fares that are not available through all other outlets. Accordingly, discounted fares that might otherwise be available to consumers are no longer offered. We request information on how these types of private contractual arrangements impact consumers and whether they are unfair or anticompetitive. Competitive Air Transportation Marketplace In connection with competition between airlines, we are requesting information on the impact of airline restrictions on the distribution or display of flight information on competition. What value, if any, do OTA and metasearch entity Web sites that operate flight search tools provide in facilitating or enabling competition among airlines? Does having airline information available through multiple outlets, including ticket agent outlets, impact price competition? Would the absence of several airlines that currently participate in ticket agent outlets impact price competition? Does the ability or inability of metasearch entities that operate flight search tools to provide Resources Needed for Competitive Entry Some stakeholders have argued that having flight information for multiple airlines available through the flight search tools of OTAs and metasearch entities operates a platform for smaller and new entrant airlines to compete with larger, better known airlines. They suggest that absent ticket agent Web sites that offer the flight information of multiple airlines, consumers will fly only well-known carriers that they recognize from advertisements and the airline’s continuous length of operation in a given market. If OTA and metasearch entity Web sites do not provide the flight information of larger, better known airlines, will consumers stop using those Web sites? If consumers do not use those Web sites, VerDate Sep<11>2014 17:53 Oct 28, 2016 Jkt 241001 PO 00000 Frm 00118 Fmt 4703 Sfmt 4703 75487 and instead search only airline Web sites, will that impact the ability of smaller or new entrant airlines to compete with larger, better known airlines because consumers will not search Web sites that do not include largest airlines? Conversely, would the ability of new entrant airlines to compete with larger airlines be enhanced by the lack of competition if large, well-known airlines limit or do not permit information on their flights to be displayed on OTA or metasearch entity Web sites and therefore consumers find only smaller airline flight options on those sites? Is Department action in this area necessary to ensure airline restrictions on the distribution or display of flight information does not harm competition? If so, what action is appropriate? We are requesting information on all of the issues and concerns identified above and any information relevant to this issue. Issued this 18th day of October 2016, in Washington, DC. Molly J. Moran, Acting General Counsel. [FR Doc. 2016–26191 Filed 10–28–16; 8:45 am] BILLING CODE 4910–9X–P DEPARTMENT OF THE TREASURY Bureau of the Fiscal Service Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the National Book-Entry System Bureau of the Fiscal Service, Fiscal Service, Treasury. ACTION: Notice. AGENCY: The Department of the Treasury (Treasury) is announcing a new fee schedule applicable to transfers of U.S. Treasury book-entry securities maintained on the National Book-Entry System (NBES) that occur on or after January 3, 2017. DATES: Effective January 3, 2017. FOR FURTHER INFORMATION CONTACT: Brandon Taylor or Janeene Wilson, Bureau of the Fiscal Service, 202–504– 3550. SUPPLEMENTARY INFORMATION: Treasury has established a fee structure for the transfer of Treasury book-entry securities maintained on NBES. Treasury reassesses this fee structure periodically based on our review of the latest book-entry costs and volumes. For each Treasury securities transfer or reversal sent or received on or after January 3, 2017, the basic fee will increase from $0.81 to $0.93. The SUMMARY: E:\FR\FM\31OCN1.SGM 31OCN1 75488 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices Federal Reserve System also charges a funds movement fee for each of these transactions for the funds settlement component of a Treasury securities transfer.1 The surcharge for an off-line Treasury book-entry securities transfer will increase from $50.00 to $70.00. Offline refers to the sending and receiving of transfer messages to or from a Federal Reserve Bank by means other than online access, such as by written, facsimile, or telephone voice instruction. The basic transfer fee assessed to both sends and receives is reflective of costs associated with the processing of securities transfers. The off-line surcharge, which is in addition to the basic fee and the funds movement fee, reflects the additional processing costs associated with the manual processing of off-line securities transfers. Treasury does not charge a fee for account maintenance, the stripping and reconstitution of Treasury securities, the wires associated with original issues, or interest and redemption payments. Treasury currently absorbs these costs. The fees described in this notice apply only to the transfer of Treasury book-entry securities held on NBES. Information concerning fees for bookentry transfers of Government Agency securities, which are priced by the Federal Reserve, is set out in a separate Federal Register notice published by the Federal Reserve. The following is the Treasury fee schedule that will take effect on January 3, 2017, for book-entry transfers on NBES: TREASURY—NBES FEE SCHEDULE—EFFECTIVE JANUARY 3, 2017 [In dollars] Transfer type On-line On-line On-line On-line Off-line Off-line Off-line Off-line Off-line transfer originated ....................................................................................................................................... transfer received ......................................................................................................................................... reversal transfer originated ......................................................................................................................... reversal transfer received ........................................................................................................................... transfer originated ....................................................................................................................................... transfer received ......................................................................................................................................... account switch received .............................................................................................................................. reversal transfer originated ......................................................................................................................... reversal transfer received ........................................................................................................................... Authority: 31 CFR 357.45. Executive Order 13464 of April 30, 2008 (Blocking Property and Prohibiting Certain Transactions Related To Burma), and Executive Order 13619 of July 11, 2012 (Blocking Property of Persons Threatening the Peace, Security, or Stability of Burma). DATES: OFAC’s actions described in this notice are effective as of October 7, 2016. David A. Lebryk, Fiscal Assistant Secretary. [FR Doc. 2016–26079 Filed 10–27–16; 11:15 am] BILLING CODE 4810–AS–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Unblocking of Specially Designated Nationals and Blocked Persons Resulting From the Termination of the National Emergency and Revocation of Executive Orders Related to Burma Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Treasury Department’s Office of Foreign Assets Control (OFAC) is removing from the Specially Designated Nationals and Blocked Persons List (SDN List) the names of the persons listed below whose property and interests in property had been blocked pursuant to Executive Order 13310 of July 28, 2003 (Blocking Property of the Government of Burma and Prohibiting Certain Transactions), Executive Order 13448 of October 18, 2007 (Blocking Property and Prohibiting Certain Transactions Related to Burma), SUMMARY: sradovich on DSK3GMQ082PROD with NOTICES Basic fee 1 The Board of Governors of the Federal Reserve System sets this fee separately from the fees VerDate Sep<11>2014 17:53 Oct 28, 2016 Jkt 241001 FOR FURTHER INFORMATION CONTACT: Associate Director for Global Targeting, tel.: 202/622–2420, Assistant Director for Sanctions Compliance & Evaluation, tel.: 202/622–2490, Assistant Director for Licensing, tel.: 202/622–2480, Office of Foreign Assets Control, or Chief Counsel (Foreign Assets Control), tel.: 202/622–2410 (not toll free numbers). SUPPLEMENTARY INFORMATION: Electronic and Facsimile Availability The SDN List and additional information concerning OFAC sanctions programs are available from OFAC’s Web site (https://www.treasury.gov/ resource-center/sanctions/Pages/ default.aspx). Notice of OFAC Actions 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 Off-line surcharge N/A N/A N/A N/A 70.00 70.00 0.00 70.00 70.00 (Prohibiting New Investment in Burma), and revoked that order, Executive Order 13310 of July 28, 2003 (Blocking Property of the Government of Burma and Prohibiting Certain Transactions), Executive Order 13448 of October 18, 2007 (Blocking Property and Prohibiting Certain Transactions Related to Burma), Executive Order 13464 of April 30, 2008 (Blocking Property and Prohibiting Certain Transactions Related To Burma), Executive Order 13619 of July 11, 2012 (Blocking Property of Persons Threatening the Peace, Security, or Stability of Burma), and Executive Order 13651 of August 6, 2013 (Prohibiting Certain Imports of Burmese Jadeite and Rubies). As such, the following individuals and entities are no longer subject to the blocking provisions in any of the Burma-related Executive Orders revoked by the President and are being removed from the SDN List as of the effective date of Executive Order 13742 of October 7, 2016, Termination of Emergency With Respect to the Actions and Policies of the Government of Burma: On October 7, 2016, the President signed an Executive Order terminating the national emergency declared in Executive Order 13047 of May 20, 1997 1. HTOO TRADING COMPANY LIMITED (a.k.a. HTOO TRADING GROUP COMPANY), 5 Pyay Road, Hlaing Township, Yangon, Burma [BURMA]. 2. HTOO WOOD PRODUCTS PTE. LIMITED (a.k.a. HTOO FURNITURE; a.k.a. assessed by Treasury. As of January 4, 2016, that fee was $0.11 per transaction. For a current listing of the Federal Reserve System’s fees, please refer to https://www.frbservices.org/servicefees/. PO 00000 Frm 00119 Fmt 4703 Sfmt 4703 E:\FR\FM\31OCN1.SGM 31OCN1

Agencies

[Federal Register Volume 81, Number 210 (Monday, October 31, 2016)]
[Notices]
[Pages 75487-75488]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-26079]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Bureau of the Fiscal Service


Fee Schedule for the Transfer of U.S. Treasury Book-Entry 
Securities Held on the National Book-Entry System

AGENCY: Bureau of the Fiscal Service, Fiscal Service, Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury (Treasury) is announcing a new 
fee schedule applicable to transfers of U.S. Treasury book-entry 
securities maintained on the National Book-Entry System (NBES) that 
occur on or after January 3, 2017.

DATES: Effective January 3, 2017.

FOR FURTHER INFORMATION CONTACT: Brandon Taylor or Janeene Wilson, 
Bureau of the Fiscal Service, 202-504-3550.

SUPPLEMENTARY INFORMATION: Treasury has established a fee structure for 
the transfer of Treasury book-entry securities maintained on NBES. 
Treasury reassesses this fee structure periodically based on our review 
of the latest book-entry costs and volumes.
    For each Treasury securities transfer or reversal sent or received 
on or after January 3, 2017, the basic fee will increase from $0.81 to 
$0.93. The

[[Page 75488]]

Federal Reserve System also charges a funds movement fee for each of 
these transactions for the funds settlement component of a Treasury 
securities transfer.\1\ The surcharge for an off-line Treasury book-
entry securities transfer will increase from $50.00 to $70.00. Off-line 
refers to the sending and receiving of transfer messages to or from a 
Federal Reserve Bank by means other than on-line access, such as by 
written, facsimile, or telephone voice instruction. The basic transfer 
fee assessed to both sends and receives is reflective of costs 
associated with the processing of securities transfers. The off-line 
surcharge, which is in addition to the basic fee and the funds movement 
fee, reflects the additional processing costs associated with the 
manual processing of off-line securities transfers.
---------------------------------------------------------------------------

    \1\ The Board of Governors of the Federal Reserve System sets 
this fee separately from the fees assessed by Treasury. As of 
January 4, 2016, that fee was $0.11 per transaction. For a current 
listing of the Federal Reserve System's fees, please refer to 
https://www.frbservices.org/servicefees/.
---------------------------------------------------------------------------

    Treasury does not charge a fee for account maintenance, the 
stripping and reconstitution of Treasury securities, the wires 
associated with original issues, or interest and redemption payments. 
Treasury currently absorbs these costs.
    The fees described in this notice apply only to the transfer of 
Treasury book-entry securities held on NBES. Information concerning 
fees for book-entry transfers of Government Agency securities, which 
are priced by the Federal Reserve, is set out in a separate Federal 
Register notice published by the Federal Reserve.
    The following is the Treasury fee schedule that will take effect on 
January 3, 2017, for book-entry transfers on NBES:

         Treasury--NBES Fee Schedule--Effective January 3, 2017
                              [In dollars]
------------------------------------------------------------------------
                                                           Off[dash]line
              Transfer type                  Basic fee       surcharge
------------------------------------------------------------------------
On[dash]line transfer originated........            0.93             N/A
On[dash]line transfer received..........            0.93             N/A
On[dash]line reversal transfer                      0.93             N/A
 originated.............................
On[dash]line reversal transfer received.            0.93             N/A
Off[dash]line transfer originated.......            0.93           70.00
Off[dash]line transfer received.........            0.93           70.00
Off[dash]line account switch received...            0.93            0.00
Off[dash]line reversal transfer                     0.93           70.00
 originated.............................
Off[dash]line reversal transfer received            0.93           70.00
------------------------------------------------------------------------


    Authority:  31 CFR 357.45.

David A. Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2016-26079 Filed 10-27-16; 11:15 am]
BILLING CODE 4810-AS-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.