[Code of Federal Regulations]
[Title 8, Volume 1]
[Revised as of January 1, 2010]
From the U.S. Government Printing Office via GPO Access
[CITE: 8CFR293.1]

[Page 763]
 
                     TITLE 8--ALIENS AND NATIONALITY
 
               CHAPTER I--DEPARTMENT OF HOMELAND SECURITY
 
PART 293_DEPOSIT OF AND INTEREST ON CASH RECEIVED TO SECURE IMMIGRATION BONDS--Table of Contents
 
Sec. 293.1  Computation of interest.

Sec.
293.1 Computation of interest.
293.2 Interest rate.
293.3 Simple interest table.
293.4 Payment of interest.

    Authority: Sec. 103, 66 Stat. 173; 8 U.S.C. 1103. Interprets and 
applies sec. 293, 84 Stat. 413.

    Source: 36 FR 13677, July 23, 1971, unless otherwise noted.


    Interest shall be computed from the date of deposit occurring after 
April 27, 1966, or from the date cash deposited in the postal savings 
system ceased to accrue interest, to and including the date of 
withdrawal or date of breach of the immigration bond, whichever occurs 
first. For purposes of this section, the date of deposit shall be the 
date shown on the Receipt of Immigration Officer for the cash received 
as security on an immigration bond. The date of withdrawal shall be the 
date upon which the interest is certified to the Treasury Department for 
payment. The date of breach shall be the date as of which the 
immigration bond was concluded to have been breached as shown on Form I-
323, Notice--Immigration Bond Breached. In counting the number of days 
for which interest shall be computed, the day on which the cash was 
deposited, or the day which cash deposited in the postal savings system 
ceased to accrue interest, shall not be counted; however, the day of 
withdrawal or the day of breach of the immigration bond shall be 
counted. Interest shall be computed at the rate determined by the 
Secretary of the Treasury and set forth in Sec. 293.2. The simple 
interest table in Sec. 293.3 shall be utilized in the computation of 
interest under this part.