---
kind: "section"
citation: "12 C.F.R. § 1511.6"
title: "12"
number: "1511.6"
heading: "Authority of Federal Reserve Banks."
url: "https://uscodex.org/cfr/12/1511.6"
---

# §1511.6. Authority of Federal Reserve Banks.

- (a) Each Federal Reserve Bank is hereby authorized as fiscal agent of the Funding Corporation to perform functions with respect to the issuance of Book-entry Funding Corporation Securities offered and sold by the Funding Corporation, in accordance with the Securities Documentation, and Federal Reserve Bank Operating Circulars; to service and maintain Book-entry Funding Corporation Securities in accounts established for such purposes; to make payments of principal and interest with respect to such Book-entry Funding Corporation Securities as directed by the Funding Corporation; to effect transfer of Book-entry Funding Corporation Securities between Participants' Securities Accounts as directed by the Participants; and to perform such other duties as fiscal agent as may be requested by the Funding Corporation.
- (b) Each Federal Reserve Bank may issue Operating Circulars not inconsistent with this Part, governing the details of its handling of Book-entry Funding Corporation Securities, Security Entitlements, and the operation of the Book-Entry System under this Part.

## Notes

### Authority

Authority: 12 U.S.C. 1441b.

### Source

Source: 61 FR 66875, Dec. 19, 1996, unless otherwise noted.