1、181 Surface Transportation Board, DOT Pt. 1144 regard will receive the full support and guid-ance of the Boards staff so that the best pos-sible results may be achieved in the shortest possible time. H. G. HOMME,Secretary. 42 FR 32541, June 27, 1977. Redesignated at 47 FR 49571, Nov. 1, 1982 and ame
2、nded at 64 FR 53268, Oct. 1, 1999 PART 1141PROCEDURES TO CALCULATE INTEREST RATES AUTHORITY: 49 U.S.C. 721. 1141.1 Procedures to calculate inter-est rates. (a) For purposes of complying with a Board decision in a complaint or inves-tigation proceeding, interest rates to be computed shall be the coup
3、on equiv-alent yield (investment rate) of mar-ketable securities of the United States Government having a duration of 91 days (3 months). The rate levels will be determined as follows: (1) For investigation proceedings, the interest rate shall be the coupon equiv-alent yield in effect on the date th
4、e statement is filed accounting for all amounts received under the new rates (See 49 U.S.C. 10707(d)(1). (2) For complaint proceedings, the in-terest rate shall be the coupon equiva-lent yield in effect on the first day of the calendar quarter in which an un-lawful charge is paid. The interest rate
5、in complaint proceedings shall be up-dated as of the first day of all subse-quent calendar quarters, at the coupon equivalent yields in effect on those days. Updating will continue until the required reparation payments are made. (3) For purposes of this section, cou-pon equivalent yields shall be c
6、onsid-ered in effect on the date the securi-ties are issued, not on the date they are auctioned. If the date the state-ment is filed (for investigation pro-ceedings) or if the first day of the cal-endar quarter (for complaint pro-ceedings) is the same as the issue date, then the yield on that date s
7、hall be used. (b) Interest in a complaint or inves-tigation proceeding shall be com-pounded quarterly, as follows: (1) For investigation proceedings, the reparations period shall begin on the date the investigation is started. Thus, unless by coincidence, the quarterly compounding periods in investi
8、gation proceedings will not coincide with the calendar quarters. (2) For complaint proceedings, the reparations period shall begin on the date the unlawful charge is paid. How-ever, in order for the quarterly compounding periods in complaint cases to coincide with the calendar quarters (so that only
9、 one interest rate is in effect during each compounding period), the first compounding period shall run from the date the unlawful charge is paid to the last day of the current calendar quarter, and all subse-quent compounding periods shall coin-cide with the calendar quarters. (3) For both investig
10、ation and com-plaint proceedings, the annual effective interest rate shall be the same as the annual nominal (or stated) rate. Thus, the nominal rate must be factored ex-ponentially to the power representing the portion of the year covered by the interest rate. A simple multiplication of the nominal
11、 rate by the portion of the year covered by the interest rate would not be appropriate because it would result in an effective rate in ex-cess of the nominal rate. Under this exponential approach, the total cu-mulative reparations payment (includ-ing interest) is calculated by multi-plying the inter
12、est factor for each quarterly period (or part thereof) by the principal amount for that period plus any accumulated interest from previous periods. The interest factor for each period is 1.0 plus the interest rate for that period to the power rep-resenting the portion of the year cov-ered by the int
13、erest rate. As an exam-ple, if the annual interest rate for the quarter is 5.6 percent, then the interest factor would be 1.01368, or 1.056 to the power of 91/365. 58 FR 19360, Apr. 14, 1993 PART 1144INTRAMODAL RAIL COMPETITION Sec. 1144.1 Negotiation. 1144.2 Prescription. 1144.3 General. VerDate Mar2010 15:03 Nov 23, 2010 Jkt 220219 PO 00000 Frm 00191 Fmt 8010 Sfmt 8010 Y:SGML220219.XXX 220219jdjones on DSKHWCL6B1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-
