# 31 CFR § 357.14: What authority does a Federal Reserve Bank have?

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-31-357.14

## Section

- **Citation:** 31 CFR § 357.14
- **Heading:** What authority does a Federal Reserve Bank have?
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 31—Money and Finance: Treasury > Subtitle B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY > SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE > PART 357—REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT > Subpart B—Treasury/Reserve Automated Debt Entry System (TRADES)

## Text

(a) Each Federal Reserve Bank has the authority as fiscal agent of the United States to:
(1) Perform functions with respect to the issuance of Book-entry Securities offered and sold by the Department to which this subpart applies, in accordance with the terms of the applicable offering circular and with procedures established by the Department;
(2) Service and maintain Book-entry Securities in accounts established for such purposes;
(3) Make payments of principal and interest, as directed by the Department;
(4) Effect transfer of Book-entry Securities between Participants' Securities Accounts as directed by the Participants; and
(5) Perform such other duties as fiscal agent that the Department may request.
(b) Each Federal Reserve Bank may issue Operating Circulars that are consistent with this part, governing the details of its handling of Book-entry Securities, Security Entitlements, and the operation of the book-entry system under this part.

## Nearby sections

- [31 CFR § 357.0 § 357.0 Book-entry systems.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.0.md)
- [31 CFR § 357.1 § 357.1 Effective date.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.1.md)
- [31 CFR § 357.2 § 357.2 Definitions.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.2.md)
- [31 CFR § 357.10 § 357.10 Laws governing a Treasury book-entry security, TRADES, and security interests or entitlements.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.10.md)
- [31 CFR § 357.11 § 357.11 Laws governing other interests in Treasury securities.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.11.md)
- [31 CFR § 357.12 § 357.12 A Participant's Security Entitlement.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.12.md)
- [31 CFR § 357.13 § 357.13 Obligations of the United States and the Federal Reserve Banks with respect to Book-entry Securities and security interests.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.13.md)
- [31 CFR § 357.14 § 357.14 What authority does a Federal Reserve Bank have?](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.14.md)
- [31 CFR § 357.15 § 357.15 How can a debtor's interest in a Security Entitlement be reached by creditors?](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.15.md)
- [31 CFR § 357.20 § 357.20 Securities account in Legacy Treasury Direct ®.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.20.md)
- [31 CFR § 357.21 § 357.21 Registration.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.21.md)
- [31 CFR § 357.22 § 357.22 Transfers.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.22.md)
- [31 CFR § 357.23 § 357.23 Judicial proceedings—sovereign immunity.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.23.md)
- [31 CFR § 357.24 § 357.24 Availability and disclosure of Legacy Treasury Direct ® records.](https://www.frixlaw.com/law-library/statutes/ecfr-31-357.24.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-31-357.14. Check the current official text before relying on it. Not legal advice.