31 CFR § 356.3 - What is the role of the Federal Reserve Banks in this process?

---
identifier: "/us/cfr/t31/s356.3"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 356.3 - What is the role of the Federal Reserve Banks in this process?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "356.3"
section_name: "What is the role of the Federal Reserve Banks in this process?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "356"
part_name: "SALE AND ISSUE OF MARKETABLE BOOK-ENTRY TREASURY BILLS, NOTES, AND BONDS (DEPARTMENT OF THE TREASURY CIRCULAR, FISCAL SERVICE SERIES NO. 1-93)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "5 U.S.C. 301; 31 U.S.C. 3102,  12 U.S.C. 391."
regulatory_source: "69 FR 45202, July 28, 2004, unless otherwise noted."
cfr_part: "356"
---


# 356.3 What is the role of the Federal Reserve Banks in this process?

The Treasury Department authorizes Federal Reserve Banks, as fiscal agents of the United States, to perform all activities necessary to carry out the provisions of this part, any auction announcements, and applicable regulations.