fiscal agent


Also found in: Acronyms.

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 ?
Bond, Fiscal Agent, have violated that provision, in that the policy of insurance was secured by misinformation as to loss history and prior cancellation and in that representatives of the insureds provided false testimony at Examination Under Oath proceedings.
In March of 2005, ACS marked 20 years of operational service to DPHHS, making the Montana project the longest running fiscal agent account in ACS history.
EDS processes about 1 billion Medicaid claims annually, more than any other company, and provides fiscal agent services/MMIS support for 20 states.
However, as the Treasury's fiscal agent, the Federal Reserve-as with most central banks throughout the world-is the Treasury's point of contact with the marketplace.
In the decision to have ACS continue providing fiscal agent services, the department is demonstrating its confidence in us," said John Crysler, Managing Director, ACS Government Healthcare Solutions.
The agreement represents the first time the State has extended a contract with its incumbent Medicaid fiscal agent.
Currently The Bank of New York acts as Fiscal Agent for the States of Washington and Oregon.
This Medicaid system reflects years of enhancements accomplished through the introduction and application of advanced new technologies and proven by the performance of successful fiscal agent operations in many states.
The bonds of each subseries are subject to mandatory tender: on interest mode conversion dates; on the business day following the end of each commercial paper or term interest rate period; upon the expiration or termination of the subseries LOC; upon the substitution of the subseries LOC if the substitution will cause a reduction or withdrawal of the rating assigned to the bonds; and upon the failure by the City to provide funds to the fiscal agent for payment on principal and interest on the bonds on a payment date.
ACS (NYSE: ACS) a leading provider of government and commercial IT solutions, today announced that it has been selected in a competitive bid process to continue to operate the Wyoming Medicaid Management Information System (MMIS) and serve as the Medicaid fiscal agent for the Wyoming Department of Health, Division of Health Care Access and Resources.
Holders electing to present their debentures to Thermo Voltek for redemption must surrender the debentures to Chase Manhattan Bank, the fiscal agent for the debentures, on or before June 24, 1999, pursuant to instructions to be forwarded to holders by the fiscal agent.
12 /PRNewswire/ -- Mellon Bank Corporation (NYSE: MEL) today announced that its Corporate Trust group has been awarded the contract to serve as fiscal agent for the state of Oregon.