[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR348.0]



[Page 317]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 348_REGULATIONS GOVERNING DEPOSITARY COMPENSATION SECURITIES--Table of Contents

 

Sec.  348.0  Offering of securities.









Sec.

348.0 Offering of securities.

348.1 Description of securities.

348.2 Redemption/call/reinvestment.

348.3 Reservations.



    Authority: 31 U.S.C. 3121; 5 U.S.C. 301.



    Source: 68 FR 41267, July 11, 2003 unless otherwise noted.





    The Secretary of the Treasury (the Secretary) under authority of 

Title 31, Chapter 31, offers, at par, Depositary Compensation Securities 

(securities) to financial agents of the Department of the Treasury. The 

securities are offered to financial agents of the Department of the 

Treasury designated under federal law (including, but not limited to: 12 

U.S.C. 90, 265-266, 1464(k), and 1789a; 31 U.S.C. 3303) which have 

executed a Depositary, Financial Agency, and Collateral Agreement 

satisfactory to the Secretary, and are authorized to provide essential 

banking services to the Department of the Treasury. The securities will 

be issued in an amount not to exceed, in any case, the amount for which 

the financial agents are authorized. The securities are non-marketable 

Treasury securities that will be utilized to compensate financial 

agents, in whole or in part, for services performed on behalf of the 

Department of the Treasury. The financial agents will be compensated 

from the interest earned on the securities. This offering will continue 

until terminated by the Secretary. The Fiscal Assistant Secretary is 

authorized to act on behalf of the Secretary upon all matters contained 

in these regulations.