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1999 Federal Register Items (January - June)

The Federal Register is a daily publication used to provide notice of proposed or final changes to the Code of Federal Regulations (CFR), including the the regulations of the Bureau of the Fiscal Service (formerly the Bureau of the Public Debt). The Federal Register is also used to provide other important information or requests for information. The most important items relating to the Bureau of the Fiscal Service published in the Federal Register from January 1999 through June 1999 are listed below. You will leave this site if you choose to access these Federal Register publications.

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1999 Federal Register Items (January - June)
February 10, 1999

This document amends the regulations governing book-entry Treasury bills, bonds, and notes by changing the time period during which the Department of the Treasury may delay the transfer of a newly-purchased security from TreasuryDirect to an account in TRADES. The previous rule provided that for Treasury bonds and notes purchased on original issue or on the additional issue of an outstanding issue, transfer from or within TreasuryDirect could be delayed for a period not to exceed 14 calendar days. The potential delay was to ensure that payment, if made by check, could be received and properly credited to Treasury's account. This amendment permits Treasury to delay the transfer of a newly-purchased security from TreasuryDirect to an account in TRADES for a period not to exceed 30 days. The previous 14 day period is not appropriate if using Pay Direct. With Pay Direct, investors purchase securities by having the funds electronically deducted from their deposit account at their financial institution and the 30 day period provides additional time for the investor to become aware of any unauthorized debit. This change benefits Treasury in preventing the transfer and sale of the security before the investor has time to discover any unauthorized debit that may have occurred.

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January 25, 1999

31 CFR 356 Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds; FINAL RULE.

The Department of the Treasury ("Treasury" or "Department") is issuing in final form an amendment to 31 CFR Part 356 (Uniform Offering Circular for the Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, and Bonds). This amendment incorporates certain changes in the Department's Treasury marketable securities auction program that have been made over the last several months. The amendment defines the term "bid-to-cover ratio" and adds the term to the listing of information that the Department provides in its official auction results announcements. The amendment also updates an example of the proration of auction awards and the sample offering announcements to reflect the change in minimum bid amounts to $1,000 for all marketable Treasury securities auctions. The amendment replaces the example of a 3-year note with a 5-year note in the sample highlights of the quarterly financing offering announcement. Further, the amendment makes various revisions to reflect the expansion of uniform or single-price auctions to all marketable Treasury securities. Finally, this amendment makes minor, unrelated technical corrections by restating terms in several equations in Appendix B.

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January 25, 1999

Privacy Act of 1974; Computer Matching Program.

Subsection (e)(12) of the Privacy Act of 1974, as amended, (5 U.S.C. 552a) requires agencies to publish advance notice of any proposed or revised computer matching program by the matching agency for public comment. The Department of Defense (DoD), as the matching agency under the Privacy Act, is hereby giving constructive notice in lieu of direct notice to the record subjects of a computer matching program between the Department of the Treasury and DoD that their records are being matched by computer. The record subjects are delinquent debtors of the Bureau of the Public Debt, Department of the Treasury, who are current or former Federal employees receiving any Federal salary or benefit payments and who are indebted or delinquent in their repayment of debts to the United States Government under certain programs administered by the Public Debt. DATES: This proposed action will become effective February 24, 1999 and matching may commence unless changes to the matching program are required due to public comments or by Congressional or by Office of Management and Budget objections. Any public comment must be received before the effective date.

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January 12, 1999

17 CFR Part 405 Office of the Assistant Secretary for Financial Markets; Government Securities Act Regulations: Reports and Audit. FINAL RULE.

The Department of the Treasury ("Department" or "Treasury") is publishing an amendment to the reporting requirements in Sec. 405.2 of the regulations issued under the Government Securities Act of 1986 ("GSA"), as amended. 17 CFR 405.2 of the GSA regulations requires entities registered with the Securities and Exchange Commission ("SEC") as specialized government securities brokers and dealers ("registered government securities brokers and dealers") under section 15C(a)(2) of the Securities Exchange Act of 1934 (the "Exchange Act") to comply with the requirements of section 240.17a-5 of the Exchange Act (SEC Rule 17a-5). On July 13, 1998, the SEC issued an amendment to SEC Rule 17a-5 that requires general purpose broker-dealers to file two reports regarding their year 2000 ("Y2K") readiness. The Department then published proposed Y2K reporting rules on October 5, 1998, that essentially parallel the SEC's Y2K reporting rules.

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