# 12 C.F.R. § 615.5456 (2026): Authority of Federal Reserve Banks

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5456

## Section

- **Citation:** 12 C.F.R. § 615.5456 (2026)
- **Heading:** Authority of Federal Reserve Banks
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter VI: FARM CREDIT ADMINISTRATION / Part 615: FUNDING AND FISCAL AFFAIRS, LOAN POLICIES AND OPERATIONS, AND FUNDING OPERATIONS / Subpart O: Book-Entry Procedures for Farm Credit Securities / § 615.5456: § 615.5456   Authority of Federal Reserve Banks.

## Text

(a) Each Federal Reserve Bank is hereby authorized as fiscal agent of the Farm Credit banks and the Funding Corporation to perform functions with respect to the issuance of book-entry securities offered and sold by the Farm Credit banks and the Funding Corporation to which this subpart applies, in accordance with the terms of the securities documentation and the provisions of this subpart:
(1) To service and maintain book-entry securities in accounts established for such purposes;
(2) To make payments of principal and interest, as directed by the Farm Credit banks and the Funding Corporation;
(3) To effect transfer of book-entry securities between participants' securities accounts as directed by the participants;
(4) To effect conversions between book-entry securities and definitive Farm Credit securities with respect to those securities as to which conversion rights are available pursuant to the applicable securities documentation; and
(5) To perform such other duties as fiscal agent as may be requested by the Farm Credit banks and the Funding Corporation.
(b) Each Federal Reserve Bank may issue Operating Circulars not inconsistent with this subpart, governing the details of its handling of book-entry securities, security entitlements, and the operation of the Book-entry System under this subpart.

## Nearby sections

- [12 C.F.R. § 615.5450 (2026) § 615.5450   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5450.md)
- [12 C.F.R. § 615.5451 (2026) § 615.5451   Book-entry and definitive securities.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5451.md)
- [12 C.F.R. § 615.5452 (2026) § 615.5452   Law governing rights and obligations of Federal Reserve Banks, Farm Credit banks, and Funding Corporation; rights of any person against Federal Reserve Banks, Farm Credit banks, and Funding Corporation.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5452.md)
- [12 C.F.R. § 615.5453 (2026) § 615.5453   Law governing other interests.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5453.md)
- [12 C.F.R. § 615.5454 (2026) § 615.5454   Creation of participant's security entitlement; security interests.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5454.md)
- [12 C.F.R. § 615.5455 (2026) § 615.5455   Obligations of the Farm Credit banks and the Funding Corporation; no adverse claims.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5455.md)
- [12 C.F.R. § 615.5456 (2026) § 615.5456   Authority of Federal Reserve Banks.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5456.md)
- [12 C.F.R. § 615.5457 (2026) § 615.5457   Withdrawal of eligible book-entry securities for conversion to definitive form.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5457.md)
- [12 C.F.R. § 615.5458 (2026) § 615.5458   Waiver of regulations.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5458.md)
- [12 C.F.R. § 615.5459 (2026) § 615.5459   Liability of Farm Credit banks, Funding Corporation and Federal Reserve Banks.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5459.md)
- [12 C.F.R. § 615.5460 (2026) § 615.5460   Additional provisions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5460.md)
- [12 C.F.R. § 615.5461 (2026) § 615.5461   Lost, stolen, destroyed, mutilated or defaced Farm Credit securities, including coupons.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5461.md)
- [12 C.F.R. § 615.5462 (2026) § 615.5462   Restrictive endorsement of bearer securities.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5462.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P615_S615_5456. Check the current official text before relying on it. Not legal advice.