---
kind: "section"
citation: "24 C.F.R. § 81.95"
title: "24"
number: "81.95"
heading: "Authority of Federal Reserve Banks."
url: "https://uscodex.org/cfr/24/81.95"
---

# §81.95. Authority of Federal Reserve Banks.

- (a) Each Federal Reserve Bank is hereby authorized as fiscal agent of the GSEs to perform the following functions with respect to the issuance of Book-entry GSE Securities offered and sold by a GSE to which this subpart H applies, in accordance with the Securities Documentation, Federal Reserve Bank Operating Circulars, this subpart H, and procedures established by the Secretary consistent with these authorities:
  - (1) To service and maintain Book-entry GSE Securities in accounts established for such purposes;
  - (2) To make payments with respect to such securities, as directed by the GSE;
  - (3) To effect transfer of Book-entry GSE Securities between Participants' Securities Accounts as directed by the Participants;
  - (4) To effect conversions between Book-entry GSE Securities and Definitive GSE Securities with respect to those securities as to which conversion rights are available pursuant to the applicable Securities Documentation; and
  - (5) To perform such other duties as fiscal agent as may be requested by the GSE.
- (b) Each Federal Reserve Bank may issue Operating Circulars not inconsistent with this subpart H, governing the details of its handling of Book-entry GSE Securities, Security Entitlements, and the operation of the book-entry system under this subpart H.

## Notes

### Source

Source: 61 FR 63948, Dec. 2, 1996, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1451 et seq., 1716-1723h, and 4501-4641; 28 U.S.C. 2461 note; 42 U.S.C. 3535(d) and 3601-3619.

### Source

Source: 60 FR 61888, Dec. 1, 1995, unless otherwise noted.