U.S. Department of the Treasury

DATE: February 2, 2022

SUBJECT: Designation of Depositaries, Financial Agents and Fiscal Agents

1. DELEGATION. By virtue of the authority vested in the Fiscal Assistant Secretary by Treasury Order 101-05, I hereby delegate to the Commissioner, Bureau of the Fiscal Service (Fiscal Service), authority to designate, use, and reimburse eligible entities as depositaries, financial agents and fiscal agents to perform any duty or function of the Secretary under 12 USC 90, 265, 266, 391, 391a, 5018, 5018 note, Pub. L. 101-509, and other laws relating to the Secretary’s designation, use, and reimbursement of fiscal and financial agents and depositaries, as amended from time to time. This delegation of authority to the Commissioner, Bureau of the Fiscal Service, is complementary to, does not supersede, and shall not be construed to interfere with or impede the delegations of authority to the Commissioner, Bureau of the Fiscal Service, under other Treasury Directives, such as Treasury Directive 16-31, “Collection and Deposit Activities of Federal Agencies.”
2. REDELEGATION. The Commissioner, Bureau of the Fiscal Service, may redelegate this authority. This authority may be exercised in the individual capacity and under the individual title of each official receiving such authority.
3. RESPONSIBILITIES.
   1. For financial agent services provided under this authority, reimbursements are chargeable to the permanent, indefinite appropriation established under 12 USC 5018 note. For fiscal agent services provided by Federal Reserve Banks, reimbursements are chargeable to the permanent, indefinite appropriation established under 12 USC 391a. For fiscal agent services provided by Federal Reserve Banks in support of administering the public debt, reimbursements are chargeable to the permanent, indefinite appropriation established under Public Law 101-509, 104 Stat. 1394. The Commissioner, Bureau of the Fiscal Service, is responsible for ensuring that all such reimbursements are properly chargeable and for obligating, disbursing, and accounting for all charges for depositary, financial, and fiscal agent services in accordance with established procedures.
   2. The Commissioner, Bureau of the Fiscal Service, shall be responsible for referring to the Fiscal Assistant Secretary any matters on which action should be appropriately taken by the Fiscal Assistant Secretary.
4. SCOPE. This Directive applies to all bureaus, offices, and organizations in the Department of the Treasury, with the exception of the Offices of Inspector General. The provisions of this Directive shall not be construed to interfere with or impede the authorities or independence of the Offices of Inspector General.
5. RATIFICATION. To the extent that any action heretofore taken consistent with this Directive may require ratification, it is hereby approved and ratified.
6. AUTHORITIES.
   1. Treasury Order 101-05, “Reporting Relationships and Supervision of Officials, Offices and Bureaus, and Delegation of Certain Authority in the Department of the Treasury,” dated December 17, 2015.
   2. 12 USC 90, 265, 266, 391, 391a, 5018, 5018 note, Pub. L. 101-509, and other laws relating to the Secretary’s designation, use, and reimbursement of fiscal and financial agents and depositaries, as amended from time-to-time.
7. CANCELLATION. Treasury Directive 16-37, “Designation of Financial Agents,” dated December 22, 2011, is superseded. Treasury Directive 16-55, “Furnishing Instructions to Federal Reserve Banks,” dated August 2, 2019, is cancelled.
8. OFFICE OF PRIMARY INTEREST. Office of the Fiscal Assistant Secretary and the Bureau of the Fiscal Service.