31 CFR § 375.3 - What is the role of the Federal Reserve Bank of New York in this process?

---
identifier: "/us/cfr/t31/s375.3"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 375.3 - What is the role of the Federal Reserve Bank of New York in this process?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "375.3"
section_name: "What is the role of the Federal Reserve Bank of New York in this process?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "375"
part_name: "MARKETABLE TREASURY SECURITIES REDEMPTION OPERATIONS"
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. 321; 31 U.S.C. 3111; 12 U.S.C. 391."
regulatory_source: "65 FR 3116, Jan. 19, 2000, as amended at 91 FR 15541, Mar. 30, 2026, unless otherwise noted."
cfr_part: "375"
---


# 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.