The Federal Reserve Banks serve as fiscal and depository agents for the United States Government. In this role, the Reserve Banks perform a variety of services for the Treasury Department, other Federal Agencies and government-sponsored enterprises.
The Federal Reserve Banks administer collateral pledged by financial institutions as part of a variety of Treasury programs.
The Treasury Retail Securities site at the Federal Reserve Bank of Minneapolis assists financial institutions in the redemption and servicing of savings bonds.
Consumers may purchase electronic savings bonds through the Treasury’s online system, TreasuryDirect® (Off-site Link).
Employers of organizations nationwide can offer their employees the benefit of purchasing electronic (paperless) savings bonds and Treasury marketable securities through TreasuryDirect, a convenient and secure online system. After opening a TreasuryDirect account, employees can use payroll direct deposit to fund their purchase of electronic Treasury securities.
Automated Clearing House (ACH) Reclamation is a recovery procedure used by the Department of the Treasury, Financial Management Service (FMS), to obtain a refund (reclamation) from a presenting financial institution for federal government payments.
The Bureau of the Fiscal Service sells Treasury bills, notes and Treasury Inflation-Protected Securities (TIPS) at approximately 200 auctions each year to raise the cash needed to operate the federal government and to refund maturing securities. The Federal Reserve Banks assist by accepting and processing tenders and issuing securities to the successful bidders.
Check Reclamation is a recovery procedure used by The Department of the Treasury, Financial Management Service (FMS), to obtain a refund (reclamation) from a presenting financial institution for paid Federal Government checks.
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