31 CFR 210.7 - Federal Reserve Banks.

Regulations last checked for updates: Nov 25, 2024

Title 31 - Money and Finance: Treasury last revised: Nov 18, 2024

View all text of Subpart A [§ 210.4 - § 210.8]

§ 210.7 - Federal Reserve Banks.

(a) Fiscal Agents. Each Federal Reserve Bank serves as Fiscal Agent of the Treasury in carrying out its duties as the Federal Government's ACH Operator under this part. As Fiscal Agent, each Federal Reserve Bank shall be responsible only to the Treasury and not to any other party for any loss resulting from the Federal Reserve Bank's action, notwithstanding Section 11.5 and Article 8 of the ACH Rules. Each Federal Reserve Bank may issue operating circulars not inconsistent with this part which shall be binding on financial institutions.

(b) Routing numbers. All routing numbers issued by a Federal Reserve Bank to an agency require the prior approval of the Service.

authority: 5 U.S.C. 5525; 12 U.S.C. 391; 31 U.S.C. 321,3301,3302,3321,3332,3335,and

source: 64 FR 17487, Apr. 9, 1999, unless otherwise noted.

cite as: 31 CFR 210.7