Government Securities Act Regulations: Large Position Rules

DEPARTMENT OF THE TREASURY

Office of the Under Secretary for Domestic Finance

17 CFR Parts 400 and 420

RIN 1505-AA53

Government Securities Act Regulations: Large Position Rules

AGENCY: Office of the Under Secretary for Domestic Finance, Treasury.

ACTION: Notice of extension of time for submission of comments.

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SUMMARY: This document extends until March 18, 1996, the deadline for

the submission of comments on the notice of proposed rulemaking

addressing large position recordkeeping and reporting requirements for

certain Treasury

[[Page 4945]]

securities. The proposed rule was published in the Federal Register on

December 18, 1995 (60 FR 65214) and comments were to be received on or

before February 16, 1996.

DATES: Comments must be submitted on or before March 18, 1996.

ADDRESSES: Comments should be sent to: Government Securities

Regulations Staff, Bureau of the Public Debt, Department of the

Treasury, Room 515, 999 E Street NW., Washington, DC 20239-0001.

Comments received will be available for public inspection and copying

at the Treasury Department Library, Room 5030, Main Treasury Building,

1500 Pennsylvania Avenue NW., Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT:

Ken Papaj (Director) or Don Hammond (Assistant Director) at 202-219-

3632.

SUPPLEMENTARY INFORMATION: The Government Securities Act Amendments of

1993 granted Treasury the authority to prescribe large position

recordkeeping and reporting rules for certain Treasury securities. A

proposed rule was published December 18, 1995, that would require

persons holding, maintaining or controlling large positions in to-be-

issued or recently-issued Treasury securities to keep records and file

reports, in response to a request from Treasury, of such large

positions.

The Department has received a request for a 30 day extension of the

comment period from a trade association representing approximately 300

government securities brokers and dealers (Public Securities

Association, PSA). The PSA has requested the extension to permit the

association additional time to resolve technical questions and solicit

comments from its Primary Dealers Committee, Government Operations

Committee, Funding Division and legal and compliance staffs. Given the

limited additional time requested and a desire to provide market

participants and other interested parties ample time to develop

constructive comments, the Department agrees to extend the comment

period until Monday, March 18, 1996.

Dated: February 6, 1996.

Darcy Bradbury,

Assistant Secretary, Financial Markets.

[FR Doc. 96-2863 Filed 2-8-96; 8:45 am]

BILLING CODE 4810-39-M