Fiscal Agent

Also found in: Acronyms

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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.

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.

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Foreign Official Institutions

Generally, the appointment as fiscal agent has been taken to confer authority to act for, or in place of, the federal government in matters relating to public revenues, public debt, and other financial business.

Federal Reserve Banks as fiscal agents and depositories of the United ... by Trimble, Theresa A. / Federal Reserve Bulletin

An ISO may act directly as the fiscal agent for a consumer.

You Can Do it: State Initiatives Broaden Access to Consumer-Directed ... by Eustis, Nancy / American Rehabilitation

in El Segundo said June 11 it has signed a $149 million contract with the New York State Department of Social Services to act as fiscal agent for the state's Medicaid program.

Computer firm inks welfare agency pact by Los Angeles Business Journal

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