Payment of Federal Taxes and the Treasury Tax and Loan Program
other · Fiscal Service · Rule · Published 2002-03-15 · Effective 2002-04-15 · 67 FR 11573
Document
Document number
02-5918
Federal Register citation
67 FR 11573
CFR reference
31 CFR 203
Type
Rule
Action
Final rule.
Category
other
Sub-agency
Fiscal Service
Publication date
2002-03-15
Effective date
2002-04-15
Abstract
The Department of the Treasury (Treasury) is amending the regulation governing the Treasury Tax and Loan (TT&L) program, to provide the Secretary greater flexibility to adjust the rate of interest we charge on funds loaned through the existing TT&L investment option. In addition, Treasury is making regulatory changes that will allow us to test the feasibility of a new investment option known as the term investment option. The term investment option would provide financial institutions participating in the TT&L investment program with another option for borrowing Treasury funds. Under the term investment option, Treasury may invest excess balances with TT&L participants at a market based rate of interest for a predetermined period of time.