Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act

DEPARTMENT OF THE TREASURY

Fiscal Service

Renegotiation Board Interest Rate; Prompt Payment Interest Rate; Contract Disputes Act

AGENCY:

Bureau of the Public Debt, Fiscal Service, Treasury.

ACTION:

Notice.

SUMMARY:

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.

ADDRESSES:

Comments or inquiries may be mailed to Eleanor Farrar, Team Leader, Debt Accounting Branch, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106-1328. A copy of this Notice will be available to download from

http://www.publicdebt.treas.gov

.

DATES:

This notice announces the applicable interest rate for the January 1, 2002 to June 30, 2002 period.

FOR FURTHER INFORMATION CONTACT:

Frank Dunn, Manager, Debt Accounting Branch, Office of Public Debt Accounting, Bureau of the Public Debt, Parkersburg, West Virginia 26106-1328, (304) 480-5170; Eleanor Farrar, Team Leader, Borrowings Accounting Team, Office of Public Debt Accounting, Bureau of the Public Debt, (304) 480-5166; Edward C. Gronseth, Deputy Chief Counsel, Office of the Chief Counsel, Bureau of the Public Debt, (304) 480-8692; or Mary C. Schaffer, Attorney-Adviser, Office of the Chief Counsel, Bureau of the Public Debt, (304) 480-8685.

SUPPLEMENTARY INFORMATION:

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. 92-41, 85 Stat. 97. For example, the Contract Disputes Act of 1978, section 12, Pub. L. 95-563, 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. 92-41.

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. 01-31893 Filed 12-27-01; 8:45 am]

BILLING CODE 4810-39-M