[Federal Register Volume 61, Number 194 (Friday, October 4, 1996)]
[Proposed Rules]
[Pages 51851-51854]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-25636]


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DEPARTMENT OF TRANSPORTATION
Fiscal Service

31 CFR Part 356


Sale and Issue of Marketable Book-Entry Treasury Bills, Notes, 
and Bonds (Department of the Treasury Circular, Public Debt Series No. 
1-93); Correction

AGENCY: Bureau of the Public Debt, Fiscal Service, Department of the 
Treasury.

ACTION: Proposed rule; correction.

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SUMMARY: This document corrects typographical and technical errors in 
Appendix B of the proposed rule, published on Friday, September 27, 
1996, FR Document Number 96-24860 (61 FR 50923). The proposed amendment 
to 31 CFR Part 356 makes changes necessary to accommodate the public 
offering of new Treasury inflation-protection securities by the 
Department of the Treasury.

FOR FURTHER INFORMATION CONTACT: Ken Papaj (Director), Lee Grandy, 
Chuck Andreatta or Kurt Eidemiller (Government Securities Specialists), 
Bureau of the Public Debt, Government Securities Regulations Staff, 
(202) 219-3632.

SUPPLEMENTARY INFORMATION: The following corrections are made to 
Appendix B of the proposed amendment to 31 CFR Part 356.

Appendix B to Part 356--[Corrected]

    (1) On page 50933 in the first column, in the fourth sentence in 
paragraph A.1. of Section I, the expression ``/2 ='' was omitted from 
the end of the sentence. The sentence should read as follows: 
``Calculation of an interest payment for a fixed-principal security 
with a par amount of $1,000 and an interest rate of 8% is made in this 
manner: ($1,000  x  .08)/2 = $40.''
    (2) On page 50933 in the third column, in the first sentence of 
paragraph B.2. of Section I, the subscript in a term appears as ``Ref 
CPIDate.'' This term should note the subscript as follows, ``Ref 
CPIDate.'' Also, in the same paragraph, the term ``Index Ratio'' 
is stated with a lower case ``r'' throughout as ``Index ratio.'' The 
``r'' should be capitalized to read ``Index Ratio.'' With these two 
changes the first sentence should read as follows: ``The numerator of 
the Index Ratio, the Ref CPIDate, is the index number applicable 
for a specific day, and the denominator of the Index Ratio is the Ref 
CPI applicable for the original issue date.''
    (3) On page 50933 in the second column, in paragraph B.3. of 
Section I, immediately under the formula, the subscript in a term 
appears as ``Ref CPIM.'' This term should note the subscript as 
follows, ``Ref CPIM.'' This statement should read as follows: 
``RefCPIM = Ref CPI for the first day of the calendar month in 
which Date falls.''
    (4) On page 50935 in the third column, in the Definitions of 
Section III, the expression:
[GRAPHIC] [TIFF OMITTED] TP04OC96.068

is incorrect. The first instance of ``+ vn'' should not have 
appeared. The expression should read as follows:
[GRAPHIC] [TIFF OMITTED] TP04OC96.069

    (5) On page 50935 at the bottom of the second column, in Section 
III, paragraph
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stated as 16.34912050. This number should be 16.34912065.
    (6) On page 50935 in the third column, in Section III, paragraph A, 
the first numerical expression for P is missing a fractional 
expression. Also, other intermediate equations prior to the final 
resolution of P have been added. The rounding of some calculations has 
been changed to conform with Treasury's current conventions. For a 
clearer understanding of the resolution, the entire resolution of 
paragraph A is provided in the attachment.
    (7) On page 50936 in the first column, in Section III, paragraph B, 
the equation ``vn = 1/(1 + i/2)a'' is incorrect.

[[Page 51852]]

    It should read as follows: ``vn = 1/(1 + i/2)n.'' In 
addition, three intermediate equations prior to the final resolution of 
P have been added. Further, another intermediate equation has been 
added prior to the resolution of Aadj. The equation solving for 
Aadj has also been modified. The entire resolution for paragraph B 
is provided in the attachment below.

    Dated: October 2, 1996.
Richard L. Gregg,
Commissioner of the Public Debt.


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[FR Doc. 96-25636 Filed 10-2-96; 1:52 pm]
BILLING CODE 4810-39-C