[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR281.5]

[Page 98]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 281--FOREIGN EXCHANGE OPERATIONS--Table of Contents
 
Sec. 281.5  Depositaries.

    (a) Except as provided in paragraph (b) of this section, foreign 
exchange which is held by accountable officers for account of the 
Secretary and foreign exchange acquired by accountable officers by 
purchase or otherwise, which is not immediately disbursed but is held by 
such officers for their own account or for the account of any agency, 
shall be maintained only in depositaries designated by the Secretary. 
Unless otherwise directed by the Secretary, accountable officers are not 
required to have separate depositary accounts for foreign exchange held 
for the Secretary's account.
    (b) Accountable officers may carry foreign exchange as cash outside 
depositaries only pursuant to authority granted in accordance with 
Treasury Department Circular No. 1030 dated July 24, 1959, as amended.
    (c) Deposits in and withdrawals from foreign exchange accounts 
maintained with depositaries in the name of the United States Treasury 
will be made only as directed by the Secretary.