31 C.F.R. § 203.19 Note option.
Title 31 - Money and Finance: Treasury
(a) Late delivery of advices of credit. If an advice of credit does not arrive at the FRB before the designated cutoff hour for receipt of such advices, the FRB will post the funds to the main note balance as of the next business day after the date on the advice of credit. This is the date on which funds will begin to earn interest for Treasury. (b) Transfer of funds from TT&L account to the main note balance. For a depositary selecting the note option, funds equivalent to the amount of deposits credited by a depositary to the TT&L account shall be withdrawn by the depositary and credited to the main note balance on the business day following the receipt of the tax payment. [67 FR 11576, Mar. 15, 2002]
Title 31: Money and Finance: Treasury
PART 203—PAYMENT OF FEDERAL TAXES AND THE TREASURY TAX AND LOAN PROGRAM
Subpart C—Federal Tax Deposits
§ 203.19 Note option.
