Departmental Offices; Change in the Calculation of Interest Rate Paid on Cash Deposited To Secure U.S. Immigration and Customs Enforcement Immigration Bonds

The Department of Homeland Security, U.S. Immigration and Customs Enforcement, amended its regulations at 8 CFR part 293 on the payment of interest on cash bond deposits to state that ``Interest on cash deposited to secure immigration bonds will be at the rate as determined by the Secretary of the Treasury, but in no case will exceed 3 per centum per annum or be less than zero.'' For the purposes of this provision, Treasury is providing notice that interest on the bonds will accrue during each calendar quarter at a rate equal to the lesser of the average of the bond equivalent rates on 91-day Treasury bills auctioned during the preceding calendar quarter, or 3 per centum per annum, but in no case less than zero. The rate will be a variable rate re-calculated quarterly. Treasury will post this rate in Table 2b--Interest Rates for Specific Legislation on the TreasuryDirect Web site beginning on October 1, 2015 and subsequently in the Federal Register.