Management of Federal Agency Disbursements, 1336-1340 [2022-28458]

Agencies

• Fiscal Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 88, Number 6 (Tuesday, January 10, 2023)]
[Proposed Rules]
[Pages 1336-1340]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-28458]


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

DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 208

[FISCAL-2022-0003]
RIN 1530-AA27


Management of Federal Agency Disbursements

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice of proposed rulemaking with request for comment.

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

SUMMARY: The Department of the Treasury's (Treasury) Bureau of the 
Fiscal Service (``Fiscal Service'' or ``we''), is proposing to amend 
its regulation that implements a statutory mandate requiring the 
Federal Government to deliver non-tax payments by electronic funds 
transfer (EFT) unless a waiver is available. Among other things, this 
Notice of Proposed Rulemaking (NPRM) would strengthen the EFT 
requirement by narrowing the scope of existing waivers from the EFT 
mandate or requiring agencies to obtain Fiscal Service's approval to 
invoke certain existing waivers; provide that Treasury has the right to 
nullify an agency's use of a waiver if Treasury determines that 
application of a waiver would lead to an agency initiating an unusually 
large number or proportion of payments by means other than EFT; and 
clarify that when an agency fails to make a payment by EFT as 
prescribed by part 208, Treasury has authority to assess a charge to an 
agency. The proposed changes reflect the reality that the use of 
electronic payments has expanded significantly since the waivers from 
the EFT mandate were first published in 1998 and also seek to take 
advantage of Treasury's growing profile of electronic payment options, 
which are faster, less expensive, and safer than paper checks. 
Strengthening the EFT requirements as proposed in the NPRM is also 
consistent with Treasury's commitment to reducing check payments.

DATES: To be considered, comments on the proposed rule must be received 
by March 13, 2023.

ADDRESSES: Commenters are encouraged to submit comments on the proposed 
rule, identified by Docket No. FISCAL-

[[Page 1337]]

2022-0003, electronically through the Federal eRulemaking Portal at 
regulations.gov by following the online instructions for submitting 
comments. Comments on the proposed rule may also be mailed to the 
Department of the Treasury, Bureau of the Fiscal Service, Attn: Matthew 
Helfrich, Management and Program Analyst, Payment Strategy and 
Innovation Division, 3201 Pennsy Drive, Bldg. E, Landover, MD 20785. 
Comments on the proposed rule may also be mailed to the Department of 
the Treasury, Bureau of the Fiscal Service, Attn: Matthew Helfrich, 
Management and Program Analyst, Payment Strategy and Innovation 
Division, 3201 Pennsy Drive, Bldg. E, Landover, MD 20785.
    All submissions received must include the agency name (Bureau of 
the Fiscal Service) and docket number for this rulemaking (FISCAL-2022-
0003). In general, comments received will be published on 
Regulations.gov without change, including any business or personal 
information provided. Comments received, including attachments and 
other supporting materials, are part of the public record and subject 
to public disclosure. Do not disclose any information in your comment 
or supporting materials that you consider confidential or inappropriate 
for public disclosure.
    You can download the proposed rule at the following website: 
fiscal.treasury.gov/eft/laws-regulations.html. You may also inspect and 
copy the proposed rule at: Treasury Department Library, Freedom of 
Information Act (FOIA) Collection, Room 1428, Main Treasury Building, 
1500 Pennsylvania Avenue NW, Washington, DC 20220. Before visiting, you 
must call (202) 622-0990 for an appointment.

FOR FURTHER INFORMATION CONTACT: Matthew Helfrich, Management and 
Program Analyst, at (215) 806-9616 or 
[email protected], or Rebecca Saltiel, Senior 
Counsel, at (202) 874-6648 or [email protected].

SUPPLEMENTARY INFORMATION: 

I. Background

    In 1998, Fiscal Service issued a final rule on part 208 of title 
31, Code of Federal Regulations (part 208), to implement the 
requirements of section 3332 of title 31 of the United States Code, as 
amended by section 31001(x)(1) of the Debt Collection Improvement Act 
of 1996, Public Law 104-134, 110 Stat. 1321-376 (section 3332). Section 
3332 generally mandates that all Federal payments that the Government 
makes, other than tax payments, be delivered by EFT unless waived by 
the Secretary of the Treasury.
    The waivers authorized by section 3332 are located exclusively in 
part 208. Specifically, subsection (f)(2)(A) of section 3332 provides 
that ``[t]he Secretary of the Treasury may waive application of [the 
EFT mandate] to payments--(i) for individuals or classes of individuals 
for whom compliance poses a hardship; (ii) for classifications or types 
of checks; or (iii) in other circumstances as may be necessary.'' 31 
U.S.C. 3332(f)(2)(A). Subsection (f)(2)(B) states that ``[t]he 
Secretary of the Treasury shall make determinations under subparagraph 
(A) based on standards developed by the Secretary.'' 31 U.S.C. 
3332(f)(2)(B). 31 U.S.C. 3332 also, more generally, authorizes the 
Secretary of the Treasury to ``prescribe regulations that the Secretary 
considers necessary to carry out this section.'' 31 U.S.C. 3332(i)(1).
    Pursuant to statutory authority in 31 U.S.C. 3335, part 208 also 
provides that Treasury may assess a charge to an agency that fails to 
make a payment by EFT as prescribed by part 208.
    The part 208 waivers have remained largely unchanged since the late 
1990s even as Treasury's percentage of payments made electronically has 
significantly increased. In 2007, 78% of the Government's payments that 
Treasury disbursed were made electronically. By 2021, that figure had 
risen to over 96%. Of the 1.4 billion payments that Treasury typically 
disburses each year on behalf of Federal agencies, all but about 50 
million are paid electronically.
    The part 208 waivers have also remained largely unchanged despite 
Treasury expanding its electronic payment offerings. The additional 
offerings include same-day Automated Clearing House (ACH) payments; ACH 
payments with addenda information; Treasury-sponsored debit cards; 
commercial prepaid cards; and emerging payments using digital wallets, 
including the Treasury-sponsored Digital Pay program. Treasury also 
operates electronic payment support and education programs and 
platforms such as GoDirect.gov and the Direct Express Financial 
Education Center. None of these offerings existed when Treasury 
published its final rule on part 208 in 1998, including its waiver 
provisions.
    The use of Treasury-sponsored debit cards illustrates how much has 
changed since the waivers were first published. Over 3.6 million 
Federal benefit payees receive their payments on Direct Express debit 
cards, which are linked to accounts sponsored by Treasury. Similarly, 
over 16.5 million Economic Impact Payment (EIP) payees received 
payments in 2020 and 2021 on EIP Cards, which are debit cards linked to 
Treasury-sponsored accounts. The Direct Express program helps ensure 
that recipients of Federal benefits receive payments electronically 
even if they do not have bank accounts. The use of EIP Cards helped 
Treasury meet its responsibility to issue EIPs as quickly as possible. 
But for the issuance of debit cards, most of these payments would have 
been by paper check.
    It is Treasury's goal to create a modern, seamless, and cost-
effective Federal payment experience for the public. Expanding the use 
of electronic payments and reducing the number of paper checks are 
essential to this goal. Electronic payments are much faster and 
significantly less expensive than paper checks. Electronic payments are 
safer than paper checks as well, with direct deposits being 16 times 
less likely to have post-payment issues (such as claims of missing or 
misdelivered payments) than paper checks. Electronic payments avoid the 
disproportionate burden checks can place on some payment recipients--
who may have to resort to expensive check cashing services--as well as 
the negative impact that check production and delivery may have on the 
environment.
    There remains room for improvement in increasing the percentage of 
payments made electronically and reducing the number of paper checks 
produced and mailed out every year. Treasury works closely with Federal 
agencies that make payments and has encountered numerous examples of 
payments that are made by paper check that ought to be made 
electronically. These often include Federal intragovernmental payments 
and vendor payments, many of which take place on a recurring basis. 
Increasing the electronic payment rate for Treasury-disbursed payments 
is part of an Agency Priority Goal for Treasury, and Treasury has set 
an objective that by the end of the decade 99% of all Government 
payments it disburses for agencies will be paid electronically.
    Treasury believes that it is time to narrow the existing waivers. A 
narrowing of the waivers should increase the percentage of payments 
made electronically and reduce the number of paper checks sent out each 
year. This narrowing is possible and appropriate because of the changes 
over the last 20 years that have increased the percentage of electronic 
payments and the number of electronic payment options.

[[Page 1338]]

II. Proposed Change to Regulation

Summary of Proposal

    The proposed rule affects the EFT waivers in Sec.  208.4 that have 
been largely unchanged since the late 1990s. We propose amending 
several existing waivers to either narrow their scope or to require the 
agency seeking to use the waiver to first file a request with Treasury. 
The rule changes are consistent with, and facilitated by, a substantial 
increase in the percentage of electronic payments and in the number of 
electronic payment options since many of these waivers were first 
published.
    We also propose to add a new paragraph (c) to Sec.  208.4 that 
would give Treasury the ability to nullify an agency waiver if Treasury 
makes the determination that the application of the waiver would lead 
to an agency initiating an unusually large number or proportion of 
payments by means other than EFT.
    In addition, we propose amending Sec.  208.9(b) to clarify that 
when an agency fails to make a payment by EFT as prescribed by part 
208, Treasury will consider that payment to not be a timely payment 
under 31 U.S.C. 3335, as EFT payments are processed, disbursed, and 
settled more quickly than paper checks. We would retain the existing 
language in Sec.  208.9(b) authorizing Treasury to assess a charge to 
an agency that fails to make a payment by EFT as prescribed under this 
part.
    Treasury is requesting comment on all proposed amendments to this 
part including views on whether the amendments are appropriate and 
well-tailored to increase the delivery of secure and accurate 
electronic payments at reduced operational costs while also improving 
climate sustainability and expanding financial inclusion.

III. Section-by-Section Analysis

Sec.  208.1

    We are not proposing any changes to Sec.  208.1.

Sec.  208.2

    We are not proposing any changes to Sec.  208.2.

Sec.  208.3

    We are not proposing any changes to Sec.  208.3.

Sec.  208.4

    We propose to amend Sec.  208.4 in several ways.
    We propose to amend the waiver at paragraph (a)(1)(ii), which 
exists for payment types for which Treasury does not offer delivery to 
a Treasury-sponsored account. The amendment would specify that if 
Treasury provides an agency with an option to begin delivering a type 
of payment to a Treasury-sponsored account, the agency must file a 
waiver request with Treasury before making payments other than by EFT. 
The waiver request process ensures that Treasury, not the agency, will 
determine whether Treasury can offer payment delivery to a Treasury-
sponsored account. Filing the waiver request is sufficient to utilize 
the waiver pending Treasury's decision on the request, but if Treasury 
ultimately rejects the request, the waiver will cease for payments to 
be made after the decision date.
    We propose to add a new waiver to Sec.  208.4 that would be 
numbered as a new paragraph (a)(3). This waiver would provide that 
payment by EFT is not required when the payment is to be made in a 
foreign currency and Treasury does not support electronic payment in 
that foreign currency. Treasury currently supports electronic payments 
in 145 foreign currencies to over 200 countries and territories, but we 
acknowledge that Treasury payment systems do not support electronic 
payment in every foreign currency. The proposed new waiver would apply 
in these limited circumstances.
    We propose to amend the existing waiver at paragraph (a)(3) 
(proposed to be renumbered as paragraph (a)(4)), which waives the EFT 
requirement for payments to recipients in a designated disaster area 
within 120 days after the disaster is declared. The amendment would 
allow an agency to extend this waiver beyond 120 days after the 
disaster is declared, provided that the agency files a waiver request 
with Treasury using a procedure set forth in paragraph (b). Filing is 
sufficient to extend the waiver pending Treasury's decision on the 
request, but if Treasury ultimately rejects the request the waiver will 
cease for payments to be made after the decision date. We propose this 
change in response to feedback we have received from an agency 
regarding their disaster relief payments and the potential need to 
extend the waiver beyond the initial 120-day timeframe. However, 
agencies contemplating using this waiver should be mindful that U.S. 
Debit Cards and Direct Express cards are electronic payment options 
that Treasury can make available to recipients in designated disaster 
areas, negating the need for an EFT waiver and paper checks in many 
instances.
    We propose to amend the waiver at paragraph (a)(6) (but would now 
be renumbered as paragraph (a)(7)), which applies when an agency does 
not expect to make payments to the same recipient within a one-year 
period on a regular, recurring basis, and remittance data explaining 
the purpose of the payment is not readily available from the 
recipient's financial institution receiving the payment by EFT. We plan 
to eliminate the language concerning the remittance data explaining the 
purpose of the payment. This language is archaic and no longer 
necessary or pertinent. Treasury disburses Federal payments to 
recipients' financial institution accounts with information that the 
financial institutions make available to recipients, allowing 
recipients to determine the purpose of the payments. This information 
often exceeds the information available on a Treasury check.
    We also plan to amend the remaining language in the waiver at 
paragraph (a)(6) (proposed to be renumbered as paragraph (a)(7)) to 
narrow its scope so that it will only apply when an agency does not 
expect to make payments to the same recipient within a one-year period 
on a regular, recurring basis and that recipient is an individual or a 
small business concern. We propose to adopt the meaning given to the 
term ``small business concern'' in section 3 of the Small Business Act 
at 15 U.S.C. 632. A broad waiver that would apply when an agency does 
not expect to make payments to the same recipient within a one-year 
period on a regular, recurring basis, regardless of the identity of the 
recipient, is no longer necessary, given the variety of electronic 
payment options available to agencies and payment recipients, including 
vendors. Nevertheless, we propose to retain this waiver for agency 
payments to small business concerns to aid Federal agencies in their 
efforts to reach the broadest and most inclusive and diverse audience 
for Federal agency contracting opportunities. We also propose to retain 
this waiver for agency payments to individuals because we recognize 
that there are limited situations in which it might still make sense 
for an agency to make a one-time, non-recurring payment to an 
individual by paper check.
    During Treasury's ongoing interactions with agencies regarding our 
efforts to increase electronic payments, we have become aware that some 
agencies are mistakenly relying on the one-time, non-recurring payment 
waiver (currently at Sec.  208.4(a)(6)) to make the first in a series 
of recurring benefit payments to a recipient by paper check. Part 208 
does not, as currently written, provide agencies with a waiver for the 
initial payment in a series of recurring payments. We understand that 
certain

[[Page 1339]]

benefit paying agencies have encountered process and systems-related 
impediments that make it difficult for them to make the initial payment 
in a series of recurring benefit payments by EFT.
    We do not propose adding a permanent waiver for this category of 
initial, recurring payments, but pursuant to Sec.  208.10 Treasury 
reserves the right to waive any provisions of part 208 in any class of 
cases. In response to the feedback we have received from benefit paying 
agencies regarding systems impediments to making the initial payment in 
a series of recurring payments by EFT, and using the discretion 
provided in Sec.  208.10, we will waive application of the EFT mandate 
for agencies making initial payments in a series of recurring payments 
for two years from the date of publication of the final rule amending 
part 208. This will permit affected agencies to make initial payments 
by paper check while giving agencies the time they need to make any 
required system or process changes that will allow them to fully comply 
with the part 208 EFT mandate.
    We propose to amend the existing waiver that is at paragraph (a)(7) 
(proposed to be renumbered as paragraph (a)(8)), which applies to 
payments where: (1) an agency's need for goods and services is urgent 
or where there is only one source for goods or services and (2) the 
Government would be significantly impacted unless payment is made by 
means other than EFT. We would retain this waiver but require an agency 
to file a waiver request with Treasury to invoke it. The subject matter 
of this waiver is extremely fact specific, so we believe that it is 
appropriate for Treasury to consider waiver requests under the new 
(a)(8) on a case-by-case basis. Filing the waiver request is sufficient 
to utilize the waiver pending Treasury's decision on the request, but 
if Treasury ultimately rejects the request, the waiver will cease for 
payments to be made after the decision date.
    We propose to amend paragraph (b), which describes the waiver 
request process. We would amend it so that it extends to requests for 
waivers from agencies as well as individuals. Agencies do not submit 
waiver requests today but pursuant to today's proposed rule would do so 
in some cases as described above. Agencies seeking waivers would be 
able to find more detailed information about how to file a waiver 
request from Treasury in the Treasury Financial Manual at 
fiscal.treasury.gov/tfm. Agencies would be entitled to make payment by 
paper check during the pendency of the waiver request process so that 
no payments would be delayed by the new waiver request requirement. 
Individuals seeking waivers can find more detailed information about 
how to file a waiver request with Treasury at godirect.gov. Treasury 
reserves the right to reject any waiver request it receives.
    We propose to add a new paragraph (c) that would give Treasury the 
ability to nullify an agency's waiver if Treasury makes the 
determination that the application of the waiver would lead to the 
agency initiating an unusually large number or proportion of payments 
by means other than EFT. If Treasury nullified a waiver for a class of 
cases in accordance with this new paragraph (c), Treasury would require 
the agency in question to work with Treasury to identify and implement 
ways to make the payments by EFT. Among other things, this may include 
requiring an agency to work with Treasury to identify information to 
make payments by EFT by using data that Treasury maintains on previous 
payments to the same payment recipient.
    The remaining provisions in Sec.  208.4 are unchanged.

Sec.  208.5

    We are not proposing any changes to Sec.  208.5.

Sec.  208.6

    We are not proposing any changes to Sec.  208.6.

Sec.  208.7

    We propose to amend Sec.  208.7 to add a new requirement that an 
agency shall provide to Treasury, upon request from Treasury, the 
employer identification numbers (EINs) assigned to the agency that the 
agency has used when making or receiving Federal intragovernmental 
payments within the 12 months preceding the request as well as the EINs 
for all Federal agencies to whom the agency has made a Federal 
intragovernmental payment in the preceding 12 months. This agency EIN 
data would be valuable because it would enable Treasury to identify 
Federal intragovernmental payments more easily. We propose to add this 
requirement as a subparagraph (b) and label the existing language in 
208.7 as subparagraph (a).

Sec.  208.8

    We are not proposing any changes to Sec.  208.8.

Sec.  208.9

    We propose to amend Sec.  208.9(b) to clarify that when an agency 
fails to make a payment by EFT as prescribed by this part, Treasury 
will consider the payment to be untimely under 31 U.S.C. 3335, as EFT 
payments are processed, disbursed, and settled more quickly than 
checks. When an agency makes a paper check payment that falls into one 
of the waiver categories in Sec.  208.4, Treasury will consider that 
payment to be a timely payment under 31 U.S.C. 3335 as an exceptional 
circumstance. We would retain the existing language in Sec.  208.9(b) 
specifying that, pursuant to 31 U.S.C. 3335, Treasury may assess a 
charge to an agency that fails to make a payment by EFT as prescribed 
by part 208. Treasury would reserve the right to assess a charge to any 
agency that fails to make a payment by EFT after Treasury has rejected 
the agency's waiver request for that payment.

Sec.  208.10

    We are not proposing any changes to Sec.  208.10.

Sec.  208.11

    We are not proposing any changes to Sec.  208.11.

IV. Procedural Analysis

Request for Comment on Plain Language

    Executive Order 12866 requires each agency in the Executive branch 
to write regulations that are simple and easy to understand. We invite 
comment on how to make the proposed rule clearer. For example, you may 
wish to discuss: (1) whether we have organized the material to suit 
your needs; (2) whether the requirements of the rule are clear; or (3) 
whether there is something else we could do to make this rule easier to 
understand.

Regulatory Planning and Review

    The proposed rule does not meet the criteria for a ``significant 
regulatory action'' as defined in Executive Order 12866. Therefore, the 
regulatory review procedures contained therein do not apply.

Regulatory Flexibility Act Analysis

    It is hereby certified that the proposed rule will not have a 
significant economic impact on a substantial number of small entities. 
The rule provisions being amended primarily apply to Federal agencies 
and individuals who receive Federal payments, and do not have any 
direct impact on small entities.

Unfunded Mandates Act of 1995

    Section 202 of the Unfunded Mandates Reform Act of 1995, 2 U.S.C. 
1532 (Unfunded Mandates Act), requires that the agency prepare a 
budgetary impact statement before

[[Page 1340]]

promulgating any rule likely to result in a Federal mandate that may 
result in the expenditure by State, local, and tribal Governments, in 
the aggregate, or by the private sector, of $100 million or more in any 
one year. If a budgetary impact statement is required, section 205 of 
the Unfunded Mandates Act also requires the agency to identify and 
consider a reasonable number of regulatory alternatives before 
promulgating the rule. We have determined that the proposed rule will 
not result in expenditures by State, local, and tribal Governments, in 
the aggregate, or by the private sector, of $100 million or more in any 
one year. Accordingly, we have not prepared a budgetary impact 
statement or specifically addressed any regulatory alternatives.

V. Proposed Regulations

List of Subjects in 31 CFR Part 208

    Banks, banking, Debit cards, Disbursements, Electronic funds 
transfers, Federal payments, Treasury-sponsored accounts.

    For the reasons set out in the preamble, we propose to amend 31 CFR 
part 208 as follows:

Title 31: Money and Finance: Treasury

PART 208--MANAGEMENT OF FEDERAL AGENCY DISBURSEMENTS

0
1. The authority citation for part 208 continues to read as follows:

    Authority:  5 U.S.C. 301; 12 U.S.C. 90, 265, 266, 1767, 1789a; 
31 U.S.C. 321, 3122, 3301, 3302, 3303, 3321, 3325, 3327, 3328, 3332, 
3335, 3336, 6503.
* * * * *
0
2. Amend Sec.  208.4 by:
0
a. Revising paragraph (a)(1)(ii);
0
b. Adding a new paragraph (a)(3) and redesignating paragraphs (a)(3) 
through (a)(7) as paragraphs (a)(4) through (a)(8);
0
c. Revising paragraphs (a)(4), (a)(7), and (a)(8);
0
d. Revising paragraph (b); and
0
e. Adding a new paragraph (c).
    The revisions and additions read as follows:


Sec.  208.4  Waivers.

    (a) * * *
    (ii) * * * However, if Treasury provides an agency with an option 
to begin delivering a type of payment to a Treasury-sponsored account, 
the agency must file a waiver request with Treasury to make payments of 
that type by any means other than by electronic funds transfer.
* * * * *
    (3) Where the payment is in a foreign currency and Treasury does 
not support electronic payment in that currency.
    (4) * * * An agency must file a waiver request with Treasury (which 
must be approved by Treasury) to extend this waiver beyond 120 days 
after the disaster is declared.
* * * * *
    (7) Where the agency does not expect to make multiple payments to 
the same recipient within a one-year period on a regular, recurring 
basis but only if the payments are made to an individual or a small 
business concern where ``small business concern'' has the meaning given 
the term in section 3 of the Small Business Act at 15 U.S.C. 632.
    (8) * * * An agency must file a waiver request with Treasury (which 
must be approved by Treasury) to utilize this waiver.
    (b) An individual who requests a waiver under paragraphs (a)(1)(iv) 
and (v) or an agency who requests a waiver under paragraphs (a)(1)(ii), 
(a)(4), or (a)(8) of this section shall provide, in writing, to 
Treasury a certification supporting that request, in such form that 
Treasury may prescribe. The individual shall attest to the 
certification before a notary public, or otherwise file the 
certification in such form that Treasury may prescribe. Treasury 
reserves the right to reject any waiver request it receives.
    (c) If application of an agency's waiver, together with any waiver 
request previously granted under paragraphs (a)(1)(ii), (a)(4), or 
(a)(8), would, in Treasury's determination, lead to the agency 
initiating an unusually large number or proportion of payments by means 
other than electronic funds transfer, Treasury reserves the right to 
nullify the waiver in this class of cases and require the agency to 
work with Treasury to identify and implement ways to make the payments 
by electronic funds transfer.
* * * * *
0
3. Amend Sec.  208.7 by:
0
a. Redesignating the existing language as paragraph (a); and
0
b. Adding a new paragraph (b).
    The revision and addition read as follows:


Sec.  208.7  Agency responsibilities.

    (a) An agency shall put into place procedures that allow recipients 
to provide the information necessary for the delivery of payments to 
the recipient by electronic funds transfer to an account at the 
recipient's financial institution or a Treasury-sponsored account.
    (b) Upon request from Treasury, an agency shall provide Treasury 
with a list of the employer identification numbers (EINs) assigned to 
the agency that the agency has used to make or receive a Federal 
intragovernmental payment during the 12-month period preceding the 
request from Treasury as well as a list of the EINs for all Federal 
agencies to whom the agency has made a Federal intragovernmental 
payment during the same 12-month period.
* * * * *
0
4. Amend Sec.  208.9 by revising paragraph (b) to read as follows:


Sec.  208.9  Compliance.

* * * * *
    (b) If an agency fails to make payment by electronic funds transfer 
as prescribed under this part, Treasury will consider that payment to 
be not timely pursuant to 31 U.S.C. 3335, as electronic funds transfer 
payments are processed, disbursed, and settled more quickly than checks 
and, accordingly, Treasury may assess a charge to the agency pursuant 
to 31 U.S.C. 3335.

David Lebryk,
Fiscal Assistant Secretary.
[FR Doc. 2022-28458 Filed 1-9-23; 8:45 am]
BILLING CODE 4810-35-P