fiscal agent

(redirected from Fiscal Agents)

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.
References in periodicals archive ?
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 agreed.
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.
Datatek, based in Phoenix, is a nationally known contract placement firm providing IT-related staffing solutions, consulting services and project management to the financial services and health insurance industries, with a vertical knowledge base supporting Medicaid Fiscal Agents.