Federal Register: December 28, 2001 (Volume 66, Number 249)
DOCID: FR Doc 01-31893
DEPARTMENT OF THE TREASURY
ACTION: Interest rates:
DOCUMENT ACTION: Notice.
Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act
DATES: This notice announces the applicable interest rate for the January 1, 2002 to June 30, 2002 period.
For the period beginning January 1, 2002 and ending on June 30, 2002 the prompt payment interest rate is 5.500 per centum per annum.
Renegotiation Board and prompt payment rates,
Although the Renegotiation Board is no longer in existence, other Federal Agencies are required to use interest rates computed under the criteria established by the Renegotiation Act of 1971, section 2, Pub. L. 9241, 85 Stat. 97. For example, the Contract Disputes Act of 1978, section 12, Pub. L. 95563, 92 Stat. 2389 and indirectly, the Prompt Payment Act of 1982, 31 U.S.C. 3902(a), provide for the calculation of interest due on claims at a rate established by the Secretary of the Treasury for the Renegotiation Board under Pub. L. 9241.
Therefore, notice is given that the Secretary of the Treasury has
determined that the rate of interest applicable, for the period
beginning January 1, 2002 and ending on June 30, 2002, is 5.500 per
centum per annum. This rate is determined pursuant to the above mentioned sections for the purpose of said sections.
Dated: December 20, 2001.
Donald V. Hammond,
Fiscal Assistant Secretary.
[FR Doc. 0131893 Filed 122701; 8:45 am] BILLING CODE 481039M
FOR FURTHER INFORMATION CONTACT
Frank Dunn, Manager, Debt Accounting Branch, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 261061328, (304) 4805170; Eleanor Farrar, Team Leader, Borrowings Accounting Team, Office of Public Debt Accounting, Bureau of the Public Debt, (304) 4805166; Edward C. Gronseth, Deputy Chief Counsel, Office of the Chief Counsel, Bureau of the Public Debt, (304) 4808692; or Mary C. Schaffer, AttorneyAdviser, Office of the Chief Counsel, Bureau of the Public Debt, (304) 4808685.