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Fiscal Agent
(redirected from Fiscal Agents)

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Fiscal Agent
A bank or similar institution that, in exchange for a fee, takes over fiscal responsibilities of another party. For example, a publicly-traded company may hire a fiscal agent to distribute dividends or coupons on its behalf. A fiscal agent allows the client to streamline its operations such that it can concentrate on its actual business, rather than worrying about who receives the proper dividends. See also: Outsourcing.

fiscal agent
The organization responsible for paying the interest and principal of another organization's debt. For example, Valdosta State Bank may be fiscal agent for, and make interest and principal payments on, debt incurred by Scott Motors Corporation.


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Box 1 Federal Reserve Banks as Fiscal Agents of the United States Section 15 of the Federal Reserve Act provides that the cash balances of the federal government "may, upon the direction of the Secretary of the Treasury, be deposited in Federal reserve banks, which banks, when required by the Secretary .
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.
A bond attorney who does work for Stephens and the competing fiscal agents agreed.
 
 
 
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