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 to be 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 to be used by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, this rate is to be 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 is for calendar year 2014 is 1.00 percent.
Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
On October 7, 2012, the Secretary of the Treasury issued Treasury Order 136-01, establishing within the Department of the Treasury (``Department'') the Bureau of the Fiscal Service (``Fiscal Service''). The new bureau consolidated the bureaus formerly known as the Financial Management Service (``FMS'') and the Bureau of the Public Debt (``BPD''). Treasury Order 136-01 was published in the Federal Register on May 24, 2013. This consolidation requires reorganization of, and administrative changes to, title 31 of the Code of Federal Regulations. This final rule renames subchapter A, transfers parts 306 through 391 of subchapter B to subchapter A, and removes and reserves subchapter B in 31 CFR chapter II.