Book-Entry System Law and Legal Definition

According to 31 CFR 354.1 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter II -- Fiscal Service, Department of the Treasury; Subchapter B -- Bureau of the Public Debt; Part 354 -- Regulations Governing Book-Entry Securities of the Student Loan Marketing Association (Sallie Mae)], book-entry system means “the automated book-entry system operated by the Federal Reserve Banks acting as the fiscal agent for Sallie Mae, on which Book-entry Sallie Mae Securities are issued, recorded, transferred and maintained in book-entry form.”