81 FR 75487 - Fee Schedule for the Transfer of U.S. Treasury Book-Entry Securities Held on the National Book-Entry System
DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service Federal Register Volume 81, Issue 210 (October 31, 2016)
Bureau of the Fiscal Service
Federal Register Volume 81, Issue 210 (October 31, 2016)
| Page Range | 75487-75488 | |
| FR Document | 2016-26079 |
[Federal Register Volume 81, Number 210 (Monday, October 31, 2016)] [Notices] [Pages 75487-75488] From the Federal Register Online [www.thefederalregister.org] [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
![Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices 75487
eliminate the ability of consumers to links to OTAs impact price and instead search only airline Web
identify the most suitable flight options? competition? sites, will that impact the ability of
Is there information to suggest that If restrictions placed on the smaller or new entrant airlines to
many airlines will eventually withhold distribution and/or display of airline compete with larger, better known
flight information entirely from all or flight information limits the flight airlines because consumers will not
most Web sites that offer flight search options available on Web sites operating search Web sites that do not include
tools? How many consumers would fail flight search tools that market multiple largest airlines? Conversely, would the
to investigate more than one airline Web airlines, has that limitation in options ability of new entrant airlines to
site, with the result that they may not lead to higher prices for consumers? If compete with larger airlines be
locate the optimal itinerary or fare? so, how? How would restrictions in the enhanced by the lack of competition if
If it is essential for consumers to be future potentially lead to higher prices? large, well-known airlines limit or do
able to view as many airline flight It is our understanding that most not permit information on their flights
options as possible on OTA and airlines do not permit fare to be displayed on OTA or metasearch
metasearch entity Web sites to identify ‘‘discounting’’ by OTAs. Are OTAs or entity Web sites and therefore
the best flight options, what information metasearch entities that operate flight consumers find only smaller airline
is essential? Is schedule information search tools able to identify fares that flight options on those sites? Is
sufficient or are both schedule and fare are lower than fares that can be found Department action in this area necessary
information necessary? Do consumers on airline Web sites? Do OTAs receive to ensure airline restrictions on the
need availability information to identify discounts from GDSs which allow them distribution or display of flight
the best flight options? to then price flights lower than airlines? information does not harm competition?
We note that airlines create fare rules Some ticket agents have stated that If so, what action is appropriate?
and generally do not allow certain flight search tools are able to identify We are requesting information on all
combinations of flight segments. Are lower prices on OTA Web sites than are of the issues and concerns identified
consumers less likely to combine one- available on airline Web sites and that above and any information relevant to
way fares when searching for an the lower fare or both fares are this issue.
itinerary on multiple airline Web sites displayed absent any airline restriction.
rather than a ticket agent Web site due If lower prices are identified by OTAs, Issued this 18th day of October 2016, in
to the amount of time it may take to do these prices serve as a competitive Washington, DC.
identify these flights and pair them check on airline prices when displayed Molly J. Moran,
together by making multiple purchases? on flight search tools adjacent to the Acting General Counsel.
We note that some airlines are placing prices offered by airlines? [FR Doc. 2016–26191 Filed 10–28–16; 8:45 am]
restrictions on OTAs and metasearch In the past, OTAs negotiated special BILLING CODE 4910–9X–P
entity Web sites preventing them from deals, rates, and promotions from
displaying codeshare flights, which at airlines that resulted in consumers
times may be the cheapest or most obtaining discounted fares. More DEPARTMENT OF THE TREASURY
efficient flight options for consumers. recently, it is our understanding that
Are consumers less likely to discover contractual arrangements between Bureau of the Fiscal Service
these codeshare flight options when airlines, GDSs, and OTAs generally
airlines restrict the display of these include provisions that prevent OTAs or Fee Schedule for the Transfer of U.S.
flights on OTA and metasearch Web airlines from offering discounted fares Treasury Book-Entry Securities Held
sites? Can consumers gain access to the that are not available through all other on the National Book-Entry System
same information by visiting airline outlets. Accordingly, discounted fares AGENCY: Bureau of the Fiscal Service,
Web sites directly? that might otherwise be available to Fiscal Service, Treasury.
Is Department action in connection consumers are no longer offered. We
ACTION: Notice.
with airline distribution practices request information on how these types
necessary to ensure consumers have the of private contractual arrangements SUMMARY: The Department of the
information they need to make informed impact consumers and whether they are Treasury (Treasury) is announcing a
choices? unfair or anticompetitive. new fee schedule applicable to transfers
Competitive Air Transportation Resources Needed for Competitive Entry of U.S. Treasury book-entry securities
Marketplace maintained on the National Book-Entry
Some stakeholders have argued that
System (NBES) that occur on or after
In connection with competition having flight information for multiple
January 3, 2017.
between airlines, we are requesting airlines available through the flight
information on the impact of airline search tools of OTAs and metasearch DATES: Effective January 3, 2017.
restrictions on the distribution or entities operates a platform for smaller FOR FURTHER INFORMATION CONTACT:
display of flight information on and new entrant airlines to compete Brandon Taylor or Janeene Wilson,
competition. What value, if any, do with larger, better known airlines. They Bureau of the Fiscal Service, 202–504–
OTA and metasearch entity Web sites suggest that absent ticket agent Web 3550.
that operate flight search tools provide sites that offer the flight information of SUPPLEMENTARY INFORMATION: Treasury
in facilitating or enabling competition multiple airlines, consumers will fly has established a fee structure for the
among airlines? Does having airline only well-known carriers that they transfer of Treasury book-entry
information available through multiple recognize from advertisements and the securities maintained on NBES.
sradovich on DSK3GMQ082PROD with NOTICES
outlets, including ticket agent outlets, airline’s continuous length of operation Treasury reassesses this fee structure
impact price competition? Would the in a given market. If OTA and periodically based on our review of the
absence of several airlines that currently metasearch entity Web sites do not latest book-entry costs and volumes.
participate in ticket agent outlets impact provide the flight information of larger, For each Treasury securities transfer
price competition? Does the ability or better known airlines, will consumers or reversal sent or received on or after
inability of metasearch entities that stop using those Web sites? If January 3, 2017, the basic fee will
operate flight search tools to provide consumers do not use those Web sites, increase from $0.81 to $0.93. The
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![75488 Federal Register / Vol. 81, No. 210 / Monday, October 31, 2016 / Notices
Federal Reserve System also charges a reflective of costs associated with the The fees described in this notice
funds movement fee for each of these processing of securities transfers. The apply only to the transfer of Treasury
transactions for the funds settlement off-line surcharge, which is in addition book-entry securities held on NBES.
component of a Treasury securities to the basic fee and the funds movement Information concerning fees for book-
transfer.1 The surcharge for an off-line fee, reflects the additional processing entry transfers of Government Agency
Treasury book-entry securities transfer costs associated with the manual securities, which are priced by the
will increase from $50.00 to $70.00. Off- processing of off-line securities Federal Reserve, is set out in a separate
line refers to the sending and receiving transfers. Federal Register notice published by
of transfer messages to or from a Federal Treasury does not charge a fee for the Federal Reserve.
Reserve Bank by means other than on- account maintenance, the stripping and
line access, such as by written, reconstitution of Treasury securities, the The following is the Treasury fee
facsimile, or telephone voice wires associated with original issues, or schedule that will take effect on January
instruction. The basic transfer fee interest and redemption payments. 3, 2017, for book-entry transfers on
assessed to both sends and receives is Treasury currently absorbs these costs. NBES:
TREASURY—NBES FEE SCHEDULE—EFFECTIVE JANUARY 3, 2017
[In dollars]
Off-line
Transfer type Basic fee surcharge
On-line transfer originated ....................................................................................................................................... 0.93 N/A
On-line transfer received ......................................................................................................................................... 0.93 N/A
On-line reversal transfer originated ......................................................................................................................... 0.93 N/A
On-line reversal transfer received ........................................................................................................................... 0.93 N/A
Off-line transfer originated ....................................................................................................................................... 0.93 70.00
Off-line transfer received ......................................................................................................................................... 0.93 70.00
Off-line account switch received .............................................................................................................................. 0.93 0.00
Off-line reversal transfer originated ......................................................................................................................... 0.93 70.00
Off-line reversal transfer received ........................................................................................................................... 0.93 70.00
Authority: 31 CFR 357.45. Executive Order 13464 of April 30, 2008 (Prohibiting New Investment in Burma),
David A. Lebryk,
(Blocking Property and Prohibiting and revoked that order, Executive Order
Certain Transactions Related To Burma), 13310 of July 28, 2003 (Blocking
Fiscal Assistant Secretary.
and Executive Order 13619 of July 11, Property of the Government of Burma
[FR Doc. 2016–26079 Filed 10–27–16; 11:15 am]
2012 (Blocking Property of Persons and Prohibiting Certain Transactions),
BILLING CODE 4810–AS–P Threatening the Peace, Security, or Executive Order 13448 of October 18,
Stability of Burma). 2007 (Blocking Property and Prohibiting
DATES: OFAC’s actions described in this Certain Transactions Related to Burma),
DEPARTMENT OF THE TREASURY
notice are effective as of October 7, Executive Order 13464 of April 30, 2008
Office of Foreign Assets Control 2016. (Blocking Property and Prohibiting
Certain Transactions Related To Burma),
FOR FURTHER INFORMATION CONTACT:
Unblocking of Specially Designated Executive Order 13619 of July 11, 2012
Associate Director for Global Targeting, (Blocking Property of Persons
Nationals and Blocked Persons
tel.: 202/622–2420, Assistant Director Threatening the Peace, Security, or
Resulting From the Termination of the
for Sanctions Compliance & Evaluation, Stability of Burma), and Executive
National Emergency and Revocation of
tel.: 202/622–2490, Assistant Director Order 13651 of August 6, 2013
Executive Orders Related to Burma
for Licensing, tel.: 202/622–2480, Office (Prohibiting Certain Imports of Burmese
AGENCY: Office of Foreign Assets of Foreign Assets Control, or Chief Jadeite and Rubies).
Control, Treasury. Counsel (Foreign Assets Control), tel.: As such, the following individuals
ACTION: Notice. 202/622–2410 (not toll free numbers). and entities are no longer subject to the
SUPPLEMENTARY INFORMATION: blocking provisions in any of the
SUMMARY: The Treasury Department’s Burma-related Executive Orders revoked
Office of Foreign Assets Control (OFAC) Electronic and Facsimile Availability
by the President and are being removed
is removing from the Specially The SDN List and additional from the SDN List as of the effective
Designated Nationals and Blocked information concerning OFAC sanctions date of Executive Order 13742 of
Persons List (SDN List) the names of the programs are available from OFAC’s October 7, 2016, Termination of
persons listed below whose property Web site (https://www.treasury.gov/ Emergency With Respect to the Actions
and interests in property had been resource-center/sanctions/Pages/ and Policies of the Government of
blocked pursuant to Executive Order default.aspx). Burma:
13310 of July 28, 2003 (Blocking
Notice of OFAC Actions 1. HTOO TRADING COMPANY LIMITED
sradovich on DSK3GMQ082PROD with NOTICES
Property of the Government of Burma
(a.k.a. HTOO TRADING GROUP COMPANY),
and Prohibiting Certain Transactions), On October 7, 2016, the President 5 Pyay Road, Hlaing Township, Yangon,
Executive Order 13448 of October 18, signed an Executive Order terminating Burma [BURMA].
2007 (Blocking Property and Prohibiting the national emergency declared in 2. HTOO WOOD PRODUCTS PTE.
Certain Transactions Related to Burma), Executive Order 13047 of May 20, 1997 LIMITED (a.k.a. HTOO FURNITURE; a.k.a.
1 The Board of Governors of the Federal Reserve assessed by Treasury. As of January 4, 2016, that fee the Federal Reserve System’s fees, please refer to
System sets this fee separately from the fees was $0.11 per transaction. For a current listing of https://www.frbservices.org/servicefees/.
VerDate Sep<11>2014 17:53 Oct 28, 2016 Jkt 241001 PO 00000 Frm 00119 Fmt 4703 Sfmt 4703 E:\FR\FM\31OCN1.SGM 31OCN1](https://thefederalregister.org/doc/81_FR_75697/page/2.svg)
Document Created: 2018-02-02 12:13:34
Document Modified: 2018-02-02 12:13:34
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice. | |
| Dates | Effective January 3, 2017. | |
| Contact | Brandon Taylor or Janeene Wilson, Bureau of the Fiscal Service, 202-504-3550. | |
| FR Citation | 81 FR 75487 |
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