CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY (parts 200 to 391) > SUBCHAPTER B—BUREAU OF THE PUBLIC DEBT (parts 306 to 391) > PART 375—MARKETABLE TREASURY SECURITIES REDEMPTION OPERATIONS > SUBPART A—General Information (§375.0 to §375.3) > 375.3—What is the role of the Federal Reserve Bank of New York in this process?

375.3—What is the role of the Federal Reserve Bank of New York in this process?

As fiscal agent of the United States, the Federal Reserve Bank of New York performs various activities necessary to conduct a redemption operation under this part. These activities may include but are not limited to:
(a) Accepting and reviewing tenders;
(b) Calculating redemption operation results;
(c) Issuing notices of redemptions;
(d) Accepting deliveries of Treasury securities at settlement; and
(e) Processing the Treasury payment for securities delivered at settlement.