Depositaries and Financial Agents of the Federal Government

Zusammenfassung

This proposes to revise regulations which govern the designation of Depositaries and Financial Agents of the Federal Government (depositaries); their authorization to accept deposits of public money and to perform other specific services; and the securing of public money. The proposed revisions update, clarify, and simplify current requirements, but do not change them. Outdated references to specific acceptable insurers are deleted. Existing language concerning the types and valuation of acceptable collateral securities and the authorization for depositaries to perform services other than acceptance of insured deposits is clarified. In addition, various references are updated.