Federal Reserve Bank Operating Circular Law and Legal Definition

Federal Reserve Bank Operating Circular means “the publication issued by each Federal Reserve Bank that sets forth the terms and conditions under which the Federal Reserve Bank maintains book-entry Securities accounts (including Book-entry Sallie Mae Securities) and transfers book-entry Securities (including Book-entry Sallie Mae Securities).” [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)]