SF 224 Centralization Federal Investments and Borrowings Seminar April 12, 2007 Presented By: Kim Poling (304)480 -5163
What is SF 224 Centralization? The Federal Investments Branch (FIB) submits daily investment activity via IPAC to FMS on behalf of the agencies who invest in Government Account Series (GAS) securities The FIB submits a monthly Partial 224 for reclassification of items not IPACd All data submitted by the FIB (ALC 20552002) to FMS is reflected in GWA on the agency Account Statement
GWA Account Statement
Why change? Intragovernmental Business Rules, TFM Bulletin No. 2007 -03 effective October 1, 2006 states “BPD shall report Federal investment activity on behalf of its Trading Partners to FMS via SF 224 or the GWA system” Web Address: http: //www. fms. treas. gov/tfm/vol 1/07 -03. html As of February 2007, the FIB submitted investment activity for approximately 50% of all active accounts, representing 97 funds Investment activity submitted by the FIB is an automated process
Key Benefits Reduces work load of agency at no additional cost Facilitates move to GWA Agency not responsible for Statement of Differences with Investment Activity Investment activity visible on GWA Account Statement by third workday
What will change? • Agency will no longer receive daily IPACs for investment activity (paper reduction) • Agency will only report Non-GAS activity on their SF 224 • Agency should review the Statement of Account published by the FIB and call 304480 -5151 by COB on 1 st workday if differences exist http: //www. treasurydirect. gov/govt/reports. htm
Statement of Account
How do I get started? • Send an e-mail to Fedinvestor@bpd. treas. gov with the following information: – Start date (must be prior to the beginning of the month you want to start) – Account Fund Symbols (AFS) you want the activity submitted for – The ALC associated with each AFS
Questions/Concerns • If automated system processes will make this change difficult, there are options available, so please give us a call. If the SF 224 is being processed manually, what are you waiting for?
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