31 CFR 375.30 - Does the Treasury have any discretion in this process?

Regulations last checked for updates: Nov 22, 2024

Title 31 - Money and Finance: Treasury last revised: Nov 18, 2024

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§ 375.30 - Does the Treasury have any discretion in this process?

§ 375.31 - What could happen if someone does not fully comply with the redemption operation rules or fails to deliver securities?

§ 375.30 - Does the Treasury have any discretion in this process?

(a) We have the discretion to:

(1) Accept or reject any offers or tenders submitted in a redemption operation;

(2) Redeem less than the amount of securities specified in the redemption operation announcement;

(3) Add to, change, or waive any provision of this part; or

(4) Change the terms and conditions of a redemption operation.

(b) Our decisions under this part are final. We will provide a public notice if we change any redemption operation provision, term or condition.

§ 375.31 - What could happen if someone does not fully comply with the redemption operation rules or fails to deliver securities?

(a) General. If a person or entity fails to comply with any of the redemption operation rules in this part, we will consider the circumstances and take what we deem to be appropriate action. This could include barring the person or entity from participating in future redemption operations under this part and future auctions under 31 CFR part 356. We also may refer the matter to an appropriate regulatory agency.

(b) Liquidated damages. If you fail to deliver securities on time, we may require you to pay liquidated damages of up to 1% of your projected settlement amount.

authority: 5 U.S.C. 301; 31 U.S.C. 3111; 12 U.S.C. 391.

source: 65 FR 3116, Jan. 19, 2000, unless otherwise noted.

cite as: 31 CFR 375.30