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.

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SUMMARY: For the period beginning January 1, 1998 and ending on June

30, 1998 the prompt payment interest rate is 6.25% (6 1/4) per centum

per annum.

ADDRESSES: Comments or inquiries may be mailed to Cynthia Winters, 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 made available for downloading from the

http://www.publicdebt.treas.gov.

DATES: This notice announces the interest rate applicable for the

January 1, 1998 to June 30, 1998 period.

FOR FURTHER INFORMATION CONTACT: Stephanie Brown, Debt Accounting

Branch Manager, Office of Public Debt Accounting, Bureau of the Public

Debt, Parkersburg, West Virginia, 26106-1328, (304) 480-5171, Cynthia

Winters, Team Leader, Debt Accounting Branch, Office of Public Debt

Accounting, Bureau of the Public Debt, (304) 480-5174, or Elizabeth S.

Gracia, Attorney-Adviser, Office of the Chief Counsel, Bureau of the

Public Debt, (304) 480-5187.

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 Sec. 2, Pub.L. 92-41, 85 Stat. 97. For

example, the Contract Disputes Act of 1978 Sec. 12, Pub.L. 95-563, 92

Stat. 2389 and the Prompt Payment Act of 1982 Sec. 2, Pub.L. 97-177, 96

Stat. 85 provide for the calculation of interest due on claims at a

rate established by the Secretary of the Treasury pursuant to 31 U.S.C.

3902(a).

Therefore, notice is hereby given that, pursuant to the above

mentioned sections, the Secretary of the Treasury has determined that

the rate of interest applicable for the purpose of said sections, for

the period beginning January 1, 1998 and ending on June 30, 1998, is 6

1/4 per centum per annum.

Dated: December 23, 1997.

Donald V. Hammond,

Deputy Fiscal Assistant Secretary.

[FR Doc. 97-34049 Filed 12-24-97; 10:44 am]

BILLING CODE 4810-39-P