Public Debt Bureau – Federal Register Recent Federal Regulation Documents
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Management of Federal Agency Disbursements; Correction
The Department of the Treasury (``Treasury''), Bureau of the Fiscal Service (``Fiscal Service'') is correcting a final rule that was published in the Federal Register on February 21, 2024, to amend Fiscal Service's Management of Federal Agency Disbursements regulation. The regulation implements a statutory mandate requiring the Federal Government to deliver non-tax payments by electronic funds transfer (EFT) unless Treasury determines that a waiver of the requirement is appropriate. The final rule strengthens 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.
Management of Federal Agency Disbursements
On January 10, 2023, the Department of the Treasury's (Treasury) Bureau of the Fiscal Service (Fiscal Service) issued a notice of proposed rulemaking (NPRM) to amend Fiscal Service's Management of Federal Agency Disbursements rule, which implements a statutory mandate requiring the Federal Government to deliver non-tax payments by electronic funds transfer (EFT) unless Treasury determines that a waiver of the requirement is appropriate. Fiscal Service is now issuing this final rule (Final Rule) to adopt the amendments as proposed, with one minor change. Among other things, the Final Rule strengthens 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 part 208 waivers. The use of electronic payments has expanded significantly since the waivers from the EFT mandate were first published in 1998, and the Final Rule appropriately updates part 208's waiver provisions, given the broad availability of safe and secure electronic payment options currently available. In doing so, the Final Rule leverages Treasury's growing profile of electronic payment options, which are faster, less expensive, and safer than paper checks. The strengthening of the EFT requirement with these changes is also consistent with Treasury's commitment to reducing check payments.
Collateral Acceptability and Valuation
The Department of the Treasury is amending regulations that govern the acceptability and valuation of collateral pledged to secure deposits of public monies and other financial interests of the government under Treasury's Fiscal Service collateral programs. This final rule is a non-substantive, technical amendment that updates a website and removes outdated contact information referenced in those regulations.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2024 is 4.00 percent.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. The percentage rate generally is calculated on an annual, calendar year basis; however, quarterly adjustments are made to the rate if the annual average of the method used to calculate it results in a change of 2 percent or more. Notice is hereby given that such an adjustment is being implemented, and the applicable rate for April through December 2023 is 3.00 percent.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2023, and ending on June 30, 2023, the prompt payment interest rate is 4\5/8\ per centum per annum.
Management of Federal Agency Disbursements
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.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2023 is 1.00 percent.
Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the Fedwire Securities Service
The Department of the Treasury (Treasury) is announcing a new process to establish a fee schedule applicable to transfers of U.S. Treasury book-entry securities maintained on the Fedwire Securities Service (Fedwire) that will start on or after January 1, 2023.
Debt Collection Authorities Under the Debt Collection Improvement Act of 1996; Correction
The Department of the Treasury (``Treasury''), Bureau of the Fiscal Service (``Fiscal Service'') is correction a final rule that appeared in the Federal Register on August 16, 2022. The document amends the regulations of the Treasury, Fiscal Service, regarding the Treasury Offset Program (``TOP'') and the Cross-Servicing program. The primary reason for amending the regulation is to inform the public about how Fiscal Service will use Social Security numbers in mailings, as required by the Social Security Number Fraud Prevention Act of 2017, which requires Fiscal Service to have final regulations in place by September 15, 2022.
Debt Collection Authorities Under the Debt Collection Improvement Act of 1996
This final rule amends the regulations of the Department of the Treasury (``Treasury''), Bureau of the Fiscal Service (``Fiscal Service''), regarding the Treasury Offset Program (``TOP'') and the Cross-Servicing program. The primary reason for amending the regulation is to inform the public about how Fiscal Service will use Social Security numbers in mailings, as required by the Social Security Number Fraud Prevention Act of 2017, which requires Fiscal Service to have final regulations in place by September 15, 2022.
Debt Collection Authorities Under the Debt Collection Improvement Act of 1996
The Department of the Treasury (``Treasury''), Bureau of the Fiscal Service (``Fiscal Service''), proposes to amend its regulations regarding the Treasury Offset Program (``TOP'') and the Cross-Servicing program. The primary reason for doing so is to inform the public about how Fiscal Service will use Social Security numbers in mailings, as required by the Social Security Number Fraud Prevention Act of 2017, which requires Fiscal Service to have final regulations in place by September 15, 2022.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) is adopting the changes we proposed in an August 2021 notice of proposed rulemaking for our regulation governing the use of the Automated Clearing House (ACH) Network. Consistent with past practice, our regulation adopts, with some exceptions, the Nacha Operating Rules & Operating Guidelines (Operating Rules & Guidelines) developed and published by Nacha as the rules governing the use of the ACH Network by Federal agencies. We are issuing this final rule to address changes that Nacha has made since its publication of the 2019 Operating Rules & Guidelines. These changes include amendments set forth in the 2020 and 2021 Operating Rules & Guidelines, including supplement #1-2021.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) is proposing to amend its regulation governing the use of the Automated Clearing House (ACH) Network by Federal agencies. Our regulation adopts, with some exceptions, the Operating Rules Operating Guidelines (Operating Rules & Guidelines) developed by Nacha as the rules governing the use of the ACH Network by Federal agencies. We are issuing this proposed rule to address changes that Nacha has made since the publication of the 2019 Operating Rules & Guidelines. These changes include amendments set forth in the 2020 and 2021 Operating Rules & Guidelines, including supplements thereto, issued on or before March 31, 2021.
Proposed Collection of Information: Annual Letters-Certificates of Authority (A) and Admitted Reinsurer (B)
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently the Bureau of the Fiscal Service within the Department of the Treasury is soliciting comments concerning Annual LettersCertificates of Authority (A) and Admitted Reinsurer (B).
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2021, and ending on June 30, 2021, the prompt payment interest rate is \7/8\ per centum per annum.
Bureau of the Fiscal Service; Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2021 is 1.00 percent.
Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the Fedwire Securities Service
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 Fedwire Securities Service (Fedwire) that occur on or after January 4, 2021.
Management of Federal Agency Disbursements
The Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service or ``we''), is adopting the changes proposed in its Notice of Proposed Rulemaking for its regulation that requires electronic delivery of all Federal payments aside from tax payments. The final rule eliminates obsolete references in the regulation, including references to the Electronic Transfer Account (ETA\SM\). In addition, the final rule provides for the disbursement of non-benefit payments, including tax payments, through Treasury- sponsored accounts, such as the U.S. Debit Card. The final rule does not mandate the electronic delivery of tax payments or affect the Direct Express[supreg] program, which will continue to be available to recipients of benefit payments.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service or ``we'') is adopting the changes proposed in its Notice of Proposed Rulemaking (NPRM) for its regulation governing the use of the Automated Clearing House (ACH) Network by Federal agencies. Our regulation adopts, with some exceptions, the NACHA Operating Rules developed by NACHAThe Electronic Payments Association (now known as Nacha), as the rules governing the use of the ACH Network by Federal agencies. We are issuing this final rule to address changes that Nacha has made to the NACHA Operating Rules since the publication of the 2016 NACHA Operating Rules & Guidelines book. These changes include amendments set forth in the 2017, 2018, and 2019 NACHA Operating Rules & Guidelines books with an effective date on or before June 30, 2021.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) is proposing to amend its regulation governing the use of the Automated Clearing House (ACH) Network by Federal agencies. Our regulation adopts, with some exceptions, the Nacha Operating Rules developed by Nacha, formerly known as NACHAThe Electronic Payments Association (Nacha), as the rules governing the use of the ACH Network by Federal agencies. We are issuing this proposed rule to address changes that Nacha has made to the Nacha Operating Rules since the publication of the 2016 Nacha Operating Rules & Guidelines book. These changes include amendments set forth in the 2017, 2018, and 2019 Nacha Operating Rules & Guidelines books, including supplements thereto, with an effective date on or before June 30, 2021.
Surety Companies Doing Business With the United States; Request for Information
The U.S. Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) administers the corporate federal surety bond program (``the program''), under which Fiscal Service processes and evaluates applications from companies seeking to underwrite or reinsure federal surety bonds. Fiscal Service is considering modernizing and improving the program. To support this effort, Fiscal Service requests information from stakeholders on these topics, including views regarding the application process for certificates of authority, the data that Fiscal Service should consider, and the analytical methods it should use when evaluating an applicant's financial condition.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2020, and ending on June 30, 2020, the prompt payment interest rate is 2\1/8\ per centum per annum.
Proposed Collection of Information: Special Bond of Indemnity By Purchaser of United States Savings Bonds/Notes Involved in a Chain Letter Scheme
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently the Bureau of the Fiscal Service within the Department of the Treasury is soliciting comments concerning Special Bond of Indemnity by Purchaser of United States Savings Bonds/Notes Involved in a Chain Letter Scheme
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2020 is 2.00 percent.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning July 1, 2019, and ending on December 31, 2019, the prompt payment interest rate is 2\5/8\ per centum per annum.
Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the Fedwire Securities Service
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 Fedwire Securities Service (Fedwire) that occur on or after January 2, 2020.
Management of Federal Agency Disbursements
The Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service or ``we''), is proposing to amend its regulation that requires electronic delivery of all Federal payments aside from tax payments. The proposed rule would eliminate obsolete references in the regulation, including references to the Electronic Transfer Account (ETA\SM\). In addition, the proposed rule would provide for the disbursement of non-benefit payments, including tax payments, through Treasury-sponsored accounts, such as the U.S. Debit Card. The proposed rule would not mandate the electronic delivery of tax payments or affect the Direct Express[supreg] program, which will continue to be available to recipients of benefit payments.
Availability of Records
The United States Department of the Treasury (Treasury), Bureau of the Fiscal Service, is streamlining its regulations by removing regulations that are no longer necessary because they are duplicative of other existing regulations, and do not add any substantive requirements, limitations, or instructions to Treasury's regulations.
Regulations Governing United States Securities
The United States Department of the Treasury, Bureau of the Fiscal Service, is streamlining its securities regulations by removing regulations that are no longer necessary because they do not have any current or future applicability.
Notice of Rate to Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2019 is 1.00 percent.
Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the National Book-Entry System
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 2, 2019.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning July 1, 2018, and ending on December 31, 2018, the prompt payment interest rate is 3\1/2\ per centum per annum.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2018, and ending on June 30, 2018, the prompt payment interest rate is 2\5/8\ per centum per annum.
Bureau of the Fiscal Service; Senior Executive Service; Combined Performance Review Board (PRB)
This notice announces the appointment of the members of the Combined Performance Review Board (PRB) for the Bureau of the Fiscal Service, the Bureau of Engraving and Printing, the United States Mint, the Alcohol and Tobacco Tax and Trade Bureau, and the Financial Crimes Enforcement Network. The Combined PRB reviews the performance appraisals of career senior executives who are below the level of bureau head and principal deputy in the bureaus, except for executives below the Assistant Commissioner/Executive Director level in the Bureau of Fiscal Service. The Combined PRB makes recommendations regarding proposed performance appraisals, ratings, bonuses, pay adjustments, and other appropriate personnel actions.
Bureau of the Fiscal Service; Senior Executive Service; Fiscal Service Performance Review Board
This notice announces the appointment of the members of the Fiscal Service Performance Review Board (PRB) for the Bureau of the Fiscal Service (Fiscal Service). The PRB reviews the performance appraisals of career senior executives who are below the level of Assistant Commissioner/Executive Director and who are not assigned to the Office of the Commissioner in the Fiscal Service. The PRB makes recommendations regarding proposed performance appraisals, ratings, bonuses, pay adjustments, and other appropriate personnel actions.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government. This rate is also used by agencies as a comparison point in evaluating the cost- effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate. Notice is hereby given that the applicable rate for calendar year 2018 is 1.00 percent.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) is amending its regulation governing the use of the Automated Clearing House (ACH) Network by Federal agencies. Our regulation adopts, with some exceptions, the NACHA Operating Rules developed by NACHAThe Electronic Payments Association (NACHA) as the rules governing the use of the ACH Network by Federal agencies. We are issuing this rule to address changes that NACHA has made to the NACHA Operating Rules since the publication of the 2013 NACHA Operating Rules & Guidelines book. These changes include amendments set forth in the 2014, 2015, and 2016 NACHA Operating Rules & Guidelines books.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning July 1, 2017, and ending on December 31, 2017, the prompt payment interest rate is 2-3/8 per centum per annum.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2017 and ending on June 30, 2017, the prompt payment interest rate is 2\1/2\ per centum per annum.
Federal Government Participation in the Automated Clearing House
The Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service) is proposing to amend its regulation governing the use of the Automated Clearing House (ACH) Network by Federal agencies. Our regulation adopts, with some exceptions, the NACHA Operating Rules developed by NACHAThe Electronic Payments Association (NACHA) as the rules governing the use of the ACH Network by Federal agencies. We are issuing this proposed rule to address changes that NACHA has made to the NACHA Operating Rules since the publication of the 2013 NACHA Operating Rules & Guidelines book. These changes include amendments set forth in the 2014, 2015, and 2016 NACHA Operating Rules & Guidelines books.
Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
The Secretary of the Treasury is responsible for computing and publishing the percentage rate that is used in assessing interest charges for outstanding debts owed to the Government (The Debt Collection Act of 1982, as amended (codified at 31 U.S.C. 3717)). This rate is also used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is used in determining when agencies should pay purchase card invoices when the card issuer offers a rebate (5 CFR 1315.8). Notice is hereby given that the applicable rate for calendar year 2017 is 1.00 percent.
Surety Companies Acceptable on Federal Bonds-Non-Renewal: Greenwich Insurance Company
This is Supplement No. 11 to the Treasury Department Circular 570, 2015 Revision, published July 1, 2015, at 80 FR 37735.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning July 1, 2016, and ending on December 31, 2016, the prompt payment interest rate is 1\7/8\ per centum per annum.
Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds
The Department of the Treasury is making non-substantive technical corrections to its marketable securities auction rules.
Surety Companies Acceptable on Federal Bonds-Change In State of Incorporation, Lexington National Insurance Corporation
This is Supplement No. 7 to the Treasury Department Circular 570, 2015 Revision, published July 1, 2015, at 80 FR 37735.
Surety Companies Acceptable on Federal Bonds: Fair American Insurance and Reinsurance Company
This is Supplement No. 8 to the Treasury Department Circular 570, 2015 Revision, published July 1, 2015, at 80 FR 37735.
Debt Collection Authorities Under the Debt Collection Improvement Act of 1996
The Department of the Treasury, Bureau of the Fiscal Service, is amending its regulations concerning the offset of Federal benefit payments to collect past-due, legally enforceable nontax debt, centralized offset of Federal payments to collect nontax debts owed to the United States, salary offset, and transfer of debts to Treasury for collection. The amendment adjusts the time period in which Federal agencies must notify the Secretary of the Treasury of past due, nontax debt for the purposes of administrative offset. A statutory change, enacted as part of the Digital Accountability and Transparency Act of 2014, shortened the period of delinquency within which Federal agencies are required to notify the Secretary of past due, nontax debt from 180 days to 120 days.
Prompt Payment Interest Rate; Contract Disputes Act
For the period beginning January 1, 2016, and ending on June 30, 2016, the prompt payment interest rate is 2\1/2\ per centum per annum.
Offset of Tax Refund Payments To Collect Past-Due Support
The Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service), is amending its regulation governing the offset of tax refund payments to collect past-due support obligations. This rule will limit the time period during which Treasury may recover certain tax refund offset collections from States, when the States have already forwarded such funds to custodial parents as required or as authorized by applicable laws. This change will limit the time period during which Treasury may require States to return the offset funds to six months from the date of such collection, if Treasury has determined that the underlying refund was not due to the taxpayer.
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