Bureau of the Fiscal Service; Notice of Rate To Be Used for Federal Debt Collection, and Discount and Rebate Evaluation
| Citation | 85 FR 71992 |
| Record Number | 2020-25018 |
| Published date | 12 November 2020 |
| Section | Notices |
| Court | Fiscal Service,Treasury Department |
Federal Register, Volume 85 Issue 219 (Thursday, November 12, 2020)
[Federal Register Volume 85, Number 219 (Thursday, November 12, 2020)]
[Notices]
[Page 71992]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-25018]
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DEPARTMENT OF THE TREASURY
Fiscal Service
Bureau of the Fiscal Service; Notice of Rate To Be Used for
Federal Debt Collection, and Discount and Rebate Evaluation
AGENCY: Bureau of the Fiscal Service, Fiscal Service, Treasury.
ACTION: Notice of rate to be used for Federal debt collection, and
discount and rebate evaluation.
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SUMMARY: The Secretary of the Treasury is responsible for computing and
publishing the percentage rate that is used in assessing interest
charges for outstanding debts owed to the Government (The Debt
Collection Act of 1982, as amended). This rate is also used by agencies
as a comparison point in evaluating the cost-effectiveness of a cash
discount. In addition, this rate is used in determining when agencies
should pay purchase card invoices when the card issuer offers a rebate.
Notice is hereby given that the applicable rate for calendar year 2021
is 1.00 percent.
DATES: January 1, 2021 through December 31, 2021
FOR FURTHER INFORMATION CONTACT: Department of the Treasury, Bureau of
the Fiscal Service, Payment Management, E-Commerce Division (LC-RM
349B), 3201 Pennsy Drive, Building E, Landover, MD 20785 (Telephone:
202-874-9428).
SUPPLEMENTARY INFORMATION: The rate reflects the current value of funds
to the Treasury for use in connection with Federal Cash Management
systems and is based on investment rates set for purposes of Public Law
95-147, 91 Stat. 1227 (October 28, 1977). Computed each year by
averaging Treasury Tax and Loan (TT&L) investment rates for the 12-
month period ending every September 30, rounded to the nearest whole
percentage, for applicability effective each January 1. Quarterly
revisions are made if the annual average, on a moving basis, changes by
2 percentage points. The rate for calendar year 2021 reflects the
average investment rates for the 12-month period that ended September
30, 2020.
Authority: 31 U.S.C. Section 3717.
Ronda L. Kent,
Assistant Commissioner, Payment Management and Chief Disbursing
Officer.
[FR Doc. 2020-25018 Filed 11-10-20; 8:45 am]
BILLING CODE 4810-AS-P
