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Rate for Use in Federal Debt Collection and Discount and Rebate Evaluation

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Financial Management Service, Fiscal Service, Treasury.




Pursuant to Section 11 of the Debt Collection Act of 1982, as amended, (31 U.S.C. 3717), the Secretary of the Treasury is responsible for computing and publishing the percentage rate to be used in assessing interest charges for outstanding debts owed to the Government. Treasury's Cash Management Requirements (TFM Volume I, Part 6, Chapter 8000) prescribe use of this rate by agencies as a comparison point in evaluating the cost-effectiveness of a cash discount. In addition, 5 CFR 1315.8 of the Prompt Payment rule on “Rebates” requires that this rate be 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 is 1.00 percent for calendar year 2012.


The rate will be in effect for the period beginning on January 1, 2012, and ending on December 31, 2012.

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Inquiries should be directed to the Agency Enterprise Solutions Division, Financial Management Service, Department of the Treasury, 401 14th Start Printed Page 72499Street SW., Washington, DC 20227 (Telephone: (202) 874-9428).

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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. 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, the rate is subject to quarterly revisions if the annual average, on a moving basis, changes by 2 percentage points. The rate in effect for the calendar year 2012 reflects the average investment rates for the 12-month period that ended September 30, 2011.

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Dated: November 9, 2011.

Sheryl R. Morrow,

Assistant Commissioner, Payment Management.

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[FR Doc. 2011-30160 Filed 11-22-11; 8:45 am]