[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR202.2]

[Page 9]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 202_DEPOSITARIES AND FINANCIAL AGENTS OF THE FEDERAL GOVERNMENT\1\ 
--Table of Contents
 
Sec. 202.2  Designations.

    (a) Financial institutions of the following classes are designated 
as Depositaries and Financial Agents of the Government if they meet the 
eligibility requirements stated in paragraph (b) of this section:
    (1) Financial institutions insured by the Federal Deposit Insurance 
Corporation.
    (2) Credit unions insured by the National Credit Union 
Administration.
    (3) Banks, savings banks, savings and loan, building and loan, and 
homestead associations, credit unions created under the laws of any 
State, the deposits or accounts of which are insured by a State or 
agency thereof or by a corporation chartered by a State for the sole 
purpose of insuring deposits or accounts of such financial institutions, 
United States branches of foreign banking corporations authorized by the 
State in which they are located to transact commercial banking business, 
and Federal branches of foreign banking corporations, the establishment 
of which has been approved by the Comptroller of the Currency.
    (b) In order to be eligible for designation, a financial institution 
is required to possess, under its charter and the regulations issued by 
its chartering authority, either general or specific authority to 
perform the services outlined in Sec. 202.3(b). A financial institution 
is required also to possess the authority to pledge collateral to secure 
public funds.

[44 FR 53066, Sept. 11, 1979, as amended at 46 FR 28152, May 26, 1981; 
62 FR 45521, Aug. 27, 1997]