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CHAPTER II-FISCAL SERVICE,

DEPARTMENT OF THE TREASURY

Part

202

203

205

208

209

210

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223

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250

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256

SUBCHAPTER A-BUREAU OF ACCOUNTS

Depositaries and financial agents of the Government.

Special depositaries of public money.

Withdrawal of cash from the Treasury for advances under Federal grant
and other programs.

Public moneys and official checks of United States disbursing officers.
Payments to financial organizations for credit to accounts of employees.
Payment of disbursing officers' checks drawn on the Treasurer of the United
States and signed in the names of disbursing officers by designated
employees.

Delivery of checks and warrants to addresses outside the United States, its
territories and possessions.

Depositaries for Federal Taxes.

Surety companies doing business with the United States.
Federal process agents of surety companies.

Acceptance of bonds, notes, or other obligations issued or guaranteed by
the United States as security in lieu of surety or sureties on penal bonds.
Purchase of surety bonds to cover civilian officers and employees and mili-
tary personnel in Executive Branch of the Federal Government.
Payment on account of awards of the Foreign Claims Settlement Commission
of the United States.

Payment of the unclaimed interest on certain awards of the Mixed Claims
Commission, United States and Germany.

Payments under the Act of Congress approved August 30, 1962, on unpaid
balances of awards of Philippine War Damage Commission.

Payments on account of awards and appraisals in favor of nationals of the
United States on claims against the Government of Mexico.

Payments under judgments and private relief acts.

257

Payment on account of deposits in the Postal Savings System.

260

261

262

Shipment of valuables pursuant to the Government Losses in Shipment Act. Claims for replacement of valuables, or the value thereof, shipped pursuant to the Government Losses in Shipment Act.

Declaration of valuables under the Government Losses in Shipment Act.

Part 270

281

290

300

306

308

309

312

315

316

317

321

322

Availability of records.

Foreign exchange operations.

Loans to public or private agencies under Refugee Relief Act of 1953.

SUBCHAPTER B-BUREAU OF THE PUBLIC DEBT

Distinctive paper for United States currency and other securities.
General regulations with respect to United States securities.
General regulations governing full-paid interim certificates.

Issue and sale of Treasury bills.

Federal savings and loan associations and Federal credit unions as fiscal agents of the United States.

Regulations governing United States Savings Bonds.

Offering of United States Savings Bonds, Series E.

Regulations governing agencies for issue of U.S. Savings Bonds of Series E
and U.S. Savings Notes.

Payments by banks and other financial institutions of United States Savings
Bonds and United States Savings Notes (Freedom Shares).

Manner of accounting for losses resulting from the redemption of United States Savings Bonds and United States Savings Notes (Freedom Shares). 323 Disclosure of records.

328 Restrictive endorsements of bearer securities.

330

332

337

339

340

341

Regulations governing payment under special endorsement of U.S. Savings
Bonds and U.S. Savings Notes (Freedom Shares).
Offering of United States Savings Bonds, Series H.

Supplemental regulations governing Federal Housing Administration
debentures.

Exchange offering of United States Savings Bonds, Series H.

Regulations governing the sale of Treasury bonds through competitive bidding.

Regulations governing United States Retirement Plan Bonds.

342 Offering of United States Savings Notes.

343 Offering of United States Mortgage Guaranty Insurance Company Tax and Loss Bonds.

SUBCHAPTER C- OFFICE OF THE TREASURER OF THE UNITED STATES Availability of records.

351

359

360

365

368

Settlements by the Treasurer of the United States, in advance of reclamation,
with payees or special endorsees of lost or stolen checks, which have been
paid on forged indorsements.

Indorsement and payment of checks drawn on the Treasurer of the United
States.

Issue of substitutes of lost, destroyed, mutilated and defaced checks drawn
on the Treasurer of the United States.

Issue of substitutes of lost, stolen, destroyed, mutilated and defaced checks of the United States drawn on accounts maintained in depositary banks in foreign countries or United States territories or possessions.

SUBCHAPTER A-BUREAU OF ACCOUNTS

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AUTHORITY: The provisions of this Part 202 issued under sec. 10, 56 Stat. 356, as amended; 12 U.S.C. 265.

SOURCE: The provisions of this Part 202 contained in Department Circular 176, Second Revision, 32 F.R. 14215, Oct. 13, 1967, unless otherwise noted.

§ 202.1 Scope of regulations.

The regulations in this part govern the designation of Depositaries and Financial Agents of the Government (hereinafter referred to as depositaries), and their authorization to accept deposits of public money and to perform other services as provided for in section 10 of the Act of June 11, 1942, as amended (12 U.S.C. 265). Public Money includes, without being limited to, revenue and funds of the United States, and any funds the deposit of which is subject to the control or regulation of the United States or any of its officers, agents, or employees. The designation and authorization of Special Depositaries of Public Money for the receipt of deposits representing payments for certain U.S. obligations and of internal revenue taxes are governed by the regulations in Part 203 of this chapter.

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thorized, without further action, to accept a deposit of public money in an official account, other than an account in the name of the Treasurer of the United States, in which the maximum balance does not exceed the insurance coverage provided by the Federal Deposit Insurance Corporation.

(b) To perform other services. (1) Upon the request of a Government agency, the Secretary of the Treasury may authorize a depositary to perform other services specifically requested by the agency, including:

(1) The maintenance of official accounts in which balances will be in excess of the insurance coverage provided by the Federal Deposit Insurance Corporation;

(ii) The maintenance of accounts in the name of the Treasurer of the United States;

(iii) The acceptance of deposits for credit of the Treasurer of the United States;

(iv) The furnishing of bank drafts in exchange for collections.

(2) To obtain authorization to perform services specifically requested by a Government agency, a depositary must:

(i) File with the Secretary of the Treasury an appropriate agreement and resolution of its board of directors authorizing the agreement (both on forms prescribed by and available from the Bureau of Accounts), and

(ii) Pledge collateral security as provided for in § 202.6.

§ 202.4 Contract of deposit.

A depositary which accepts a deposit under this part enters into a contract of deposit with the Treausry Department. The terms of the contract include all the provisions of this part and the provisions prescribed in section 202 of Executive Order 11246, entitled "Equal Employment Opportunity".

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(a) Requirement. Prior to receiving deposits of public money, a depositary authorized to perform services under § 202.3(b) must pledge collateral security in the amount required by the Secretary of the Treasury.

(b) Acceptable security. Unless otherwise specified by the Secretary of the Treasury, collateral security pledged under this section may be transferable securities of any of the following classes:

(1) Obligations issued or fully insured or guaranteed by the United States or any U.S. Government agency, and obligations of Government-sponsored corporations which under specific statute may be accepted as security for public funds: At face value.

(2) Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the InterAmerican Development Bank or the Asian Development Bank: At face value.

(c) Deposits of securities. Collateral security under this part must be deposited with (1) the Federal Reserve Bank or Branch of the district in which the depositary is located (depositaries located in Puerto Rico, the Virgin Islands, and the Panama Canal Zone will be considered as being located in the New York Federal Reserve district), or with a custodian or custodians within the United States designated by the Federal Reserve Bank, under terms and conditions prescribed by the Federal Reserve Bank, or (2) the Treasurer of the United States, Securities Division, Washington, D.C. 20220. Securities deposited with a Federal Reserve Bank or the Treasurer of the United States must be accompanied by a letter stating specifically the purpose for which the securities are being deposited.

(d) Assignment. A depositary that pledges securities which are not negotiable without its endorsement or assignment may, in lieu of placing its unqualified endorsement on each security, furnish an appropriate resolution and irrevocable power of attorney authorizing the Federal Reserve Bank or the Treasurer of the United States, as the case may be, to assign the securities. The resolution and power of attorney shall conform to such terms and conditions as the Federal Reserve Banks or the Treasurer of the United States, as the case may be, shall prescribe.

[Dept. Circ. 176, 2d Rev., 32 F.R. 14216, Oct. 13, 1967, as amended at 36 F.R. 6748, Apr. 8, 1971; 36 F.R. 17995, Sept. 8, 1971]

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the Federal Reserve Bank of its district, to maintain for that Federal Reserve Bank, as Fiscal Agent of the United States, a separate account, for deposits to be made under this part, to be known as the Treasury Tax and Loan Account.

(b) Qualification. To obtain approval for a Treasury Tax and Loan Account a special depositary must (1) file with the Federal Reserve Bank of its district an application accompanied by a resolution of its board of directors authorizing the application (both on forms prescribed by and available from the Federal Reserve Bank), and (2) pledge collateral security as provided for in § 203.8.

(c) Maximum balance. The balance in a Treasury Tax and Loan Account with a special depositary may not exceed an amount determined by the Federal Reserve Bank of its district.

(d) Particular locations. For the purposes of this part, special depositaries located in Puerto Rico, the Virgin Islands, and the Panama Canal Zone will be considered as being located in the New York Federal Reserve district.

§ 203.4 Contract of deposit.

A special depositary which accepts a deposit under this part enters into a contract of deposit with the Treasury Department. The terms of the contract include all the provisions of this part and the provisions prescribed in section 202 of Executive Order 11246, entitled "Equal Employment Opportunity."

§ 203.5 Previously qualified special depositaries.

A special depositary previously qualified will, by the acceptance or retention of deposits, be presumed to have assented to all the terms and provisions of this part and to the retention of collateral security theretofore pledged.

§ 203.6 Discontinuance of special de

positaries.

The authority to maintain a Treasury Tax and Loan Account of a special depositary which has received an allotment on a subscription for obligations of the United States and refuses to accept the allotment and to make payment, or otherwise fails to comply with the provisions of this part, will be discontinued.

§ 203.7 Deposits.

(a) Sources. A special depositary may credit in its Treasury Tax and Loan Account funds representing:

(1) Payments for U.S. Savings Bonds and U.S. Savings Notes issued by the special depositary;

(2) Payments for U.S. Savings Bonds and U.S. Savings Notes which are applied for through the special depositary on behalf of its customers but which may be issued only by Federal Reserve Banks and the Treasurer of the United States;

(3) Payments made by or through the special depositary for allotments on subscriptions for other obligations of the United States issued under authority of the Second Liberty Bond Act, as amended, when this method of payment is permitted under the terms of the offering circulars;

(4) Payments of such internal revenue taxes as the Secretary of the Treasury may from time to time authorize to be paid through Treasury Tax and Loan Accounts.

(b) Procedures. In order to make payment by credit to its Treasury Tax and Loan Account, a special depositary must:

(1) In the case of payments described in paragraph (a) (1), (2), and (3) of this section, comply with terms and conditions prescribed by the Federal Reserve Bank of its district;

(2) In the case of payments described in paragraph (a)(4) of this section, comply with such requirements as the Secretary of the Treasury may prescribe. § 203.8 Collateral security.

(a) Requirement. Prior to crediting deposits to its Treasury Tax and Loan Account, a special depositary must pledge collateral security in an amount, taken at the values provided in paragraph (b) of this section, at least equal to the portion of the balance in the account that will be in excess of the insurance coverage provided by the Federal Deposit Insurance Corporation.

(b) Acceptable securities. Unless otherwise specified by the Secretary of the Treasury, collateral security pledged under this section may be transferable securities of any of the following classes:

(1) Obligations issued or fully insured or guaranteed by the United States or any U.S. Government agency, and obligations of Government-sponsored corporations which under specific statute may be accepted as security for public funds: At face value.

(2) Obligations issued or fully guaranteed by the International Bank for Reconstruction and Development, the Inter

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