Tax and loan account

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Tax and loan account

An account at a private bank, held in the name of the district Federal Reserve Bank, which holds operating cash for the business of the US Treasury.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Tax and Loan Account

An account that a Federal Reserve bank maintains at a private bank containing funds from taxes and government debt. The tax and loan account finances the operations of the U.S. Treasury.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved