TFM Announcement Page

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ANNOUNCEMENT

This announcement reminds Federal program agencies (FPAs), Federal Reserve Banks, Treasury depositaries and others that the Department of the Treasury  (Treasury)  finances basic banking services for the benefit of FPAs.

Under the depositary agreements (Memorandums of Understanding) signed with these financial institutions, Treasury pays the costs for processing current FPA transactions. This includes payment for basic banking charges related to processing checks, cash and electronic funds transfers. It also includes the cost of processing FPA requests for corrections and adjustments to Treasury's General Account (TGA).

Treasury does not compensate financial institutions for extended banking services such as FPA requests for historical records, research, check copies or the like. Each FPA must pay the banking charges related to such requests.

Direct questions concerning this announcement to:

Financial Management Service
Banking Operations Branch
3700 East-West Highway
Room 5A05
Hyattsville, MD  20782
Telephone: 202-874-6900