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)

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.

[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]


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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.

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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.
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    \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/.
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    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]
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                                                           Off[dash]line
              Transfer type                  Basic fee       surcharge
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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
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    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