fiscal agent

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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.
References in periodicals archive ?
Another point analyzed was the budget extension for the Public Prosecutor's Office, for salary increases for fiscal agents, assistants, rapporteurs, administrative officials, among others.
Fiscal agents have sealed the truck and signaled employees of the Bulgarian Food Safety Agency through the Interdepartmental Coordination Center for Counteracting Smuggling and Controlling the Movement of Risk Goods.
Lagarde said protecting institutions such as fiscal agents and banks, prioritizing spending and maintaining macroeconomic controls are essential for relieving economic pressure in the affected countries.
particular, in line with Article 13 of the Law, the deadline for fiscal agents' presenting the income tax statements to the fiscal structures,
"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.
Fiscal agents endeavoring to make effective use of available funds understandably are more comfortable with efforts that produce a verifiable result, usually numbers, as opposed to a successful outcome that remains difficult to prove.
(As described in Box 1, Federal Reserve Banks acted as "fiscal agents" of the United States when they undertook activities such as denominational exchanges of bearer Treasury bonds.) 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 ...
Fiscal agents, who help school boards determine the need for bonds and then handle all the details, are paid a fee based on the size and complexity of each bond issue.
Can we imagine what hired fiscal agents then got up to?
Treasury and other entities for services the Reserve Banks provided as fiscal agents, totaled $4.1 billion in 2017.
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.S.