Initial Federal Health Insurance Time Account Deposit - (Rev. 5,

110 - Initial Federal Health Insurance Time Account Deposit - (Rev. 5, 08-30-02) A1-1418, B1-4416 To preclude excessive use of Federal funds, the contractor shall delay the initial deposit in the Time Account until it has actually started processing checks that are cleared against the FHIBA. It shall effect the initial deposit of Federal funds into the Federal Health Insurance Time Account by drawing a check on the new FHIBA payable to the Time Account. It shall establish the amount of the initial time deposit check by re-computing the Award Schedule (AS) (Page 2 of 2) that the selected bank submits to reflect the effective prime rate (i.e., prime minus one percent) in effect on the date the new accounts are implementation. It shall make the check payable to the designated bank with the following directive clearly printed on the reverse: For Deposit Only In (Name of Contractor) Federal Health Insurance Time Account The contractor shall delay use of the Federal Health Insurance Accounts until the Federal Reserve Bank has received authorization from the Treasury Department for the designated commercial bank to process payment vouchers under the letter-of-credit procedure.