Apparently, groups are now having their fiscal agents
make their requests for them.
Effective July 20, 2006, the PSR policy requires Reserve Banks (1) to release interest and redemption payments on securities issued by government-sponsored enterprises (GSEs) and certain international organizations (institutions for which the Reserve Banks act as fiscal agents
but whose securities are not obligations of, or fully guaranteed as to principal and interest by, the United States) only if the issuer's Federal Reserve account contains sufficient funds to cover them and (2) to align the treatment of the general corporate account activity of GSEs and certain international organizations with the treatment of the activity of other account holders that do not have regular access to the discount window and those account holders not eligible for intraday credit.
A bond attorney who does work for Stephens and the competing fiscal agents
Daniel K Grimm, Washington State Treasurer, said, "Our selection of The Bank of New York resulted from an extensive review of all the primary Fiscal Agents
in the country.
The placement, which was handled by fiscal agents
in Europe, was for 33,287,626 units priced at $0.
The Federal Reserve Act assigns to the Federal Reserve Banks the task of serving as fiscal agents
and depositories of the United States when required to do so by the Secretary of the U.
However, just as most central banks throughout the world act as fiscal agents
for their treasuries or finance ministries, the Federal Reserve is the U.
Although the Board has general oversight responsibility for all Federal Reserve District Banks, the District Banks act as fiscal agents
of the Treasury, thus sharing with the Treasury operating responsibility for the market.
In this market, the Reserve Banks operate as fiscal agents
of the U.
Full reimbursement of expenses incurred as fiscal agents
and depositories is an important public policy concept for two reasons.
Although the Board has general oversight responsibility for all Federal Reserve District Banks, it is the District Banks that act as fiscal agents
of the Treasury, thus sharing operating responsibility for the market with the Treasury.
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