Code of Federal Regulations Title 31. Money and Finance–Treasury § 31.357.14 What authority does a Federal Reserve Bank have?

(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.