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 ?
According to HP, as Wisconsin's fiscal agent, it will continue providing all systems work and management of a decision support system and data warehouse, which handles the analysis of over four terabytes of Medicaid data used to drive programme decisions.
We are very pleased to have been selected by Qatari Diar Finance to act as fiscal agent and Luxembourg listing agent for this two-part Eurobond issue," said Andrew Leamon, director of global debt services for the Mena region at Deutsche Bank.
While the National Network plans on rapid growth throughout the United States, the charter partnerships consist of Alabama Southern Community College (the grant's fiscal agent and home to the National Center for Pulp and Paper Technology Training) & Auburn University; Mid-State Technical College & University of Wisconsin at Stevens Point/University of Minnesota; Kennebec Valley Community College & University of Maine; and Lower Columbia College & University of Washington.
The New York Fed would add the bonds to the inventory of unissued securities that it held as a fiscal agent of the United States and send a wire notice to the San Francisco Fed to remove a comparable quantity of the same bonds from the inventory that it held as fiscal agent and deliver the bonds to Bank of America.
F, which normally prevents a fiscal agent representing the interest of a borrowing school district to then become the lender by buying the district's bonds.
In this column, we review the notion of fiscal agent as it has developed in United States and comment on its application and misapplication in this country.
Valley VOTE noted that under the LAFCO plan, the Valley would be liable to pay its full share of bond debt and there would a third-party fiscal agent appointed to manage revenues and payments, ensuring that the bondholders were paid.
Sharon Jordan is Program Manager, Office of Long-Term Care Financial Activities, Arkansas Department of Human Services, Division of Medical Services, and Tom Jewart is Director, Electronic Data Systems (EDS), the fiscal agent for medical claims processing in Arkansas.
Moreover, if the taxpayer initiates the EFT payment on a timely basis but events beyond its control prevent the timely receipt of funds by the state's bank or fiscal agent, no penalty should be imposed.
The Bank of New York Mellon, as the Fiscal Agent for the notes, is directed to request an advance under the LOC whenever proceeds of the sale of rollover notes are insufficient to pay maturing Notes.