[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: 31CFR358.18]

[Page 431]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 358--REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS--Table of Contents
 
Sec. 358.18  What limitations exist on liability?

    (a) Except as otherwise provided by regulation, circular, or written 
agreement, any fiscal agent designated to act on our behalf is liable 
for its action or omission only if it failed to exercise ordinary care.
    (b) We do not assume any responsibility to any party except the 
sending and receiving depository institutions involved in a BECCS or 
CUBES transaction.
    (c) We do not assume any responsibility in connection with a BECCS 
or CUBES transaction for the insolvency, neglect, misconduct, mistake, 
or default of another bank or person, including the immediate 
participants.