31 CFR 225.7 - Custodian duties and responsibilities.

Status message

There is 1 rule appearing in the Federal Register for 31 CFR 225. View below or at eCFR (GPOAccess)
§ 225.7 Custodian duties and responsibilities.
(a) General. A custodian shall authenticate instructions received from a bond official and shall act in accordance with such authenticated instructions. The custodian assumes no liability and is without liability of any kind for acting in accordance with such authenticated instructions, except for the custodian's failure to exercise ordinary care. By providing a bond secured by Government obligations in lieu of a bond with surety or sureties, an obligor agrees not to hold either the custodian or the Secretary liable or responsible for the actions or inactions of a bond official or for carrying out a bond official's authenticated instructions.
(b) Interest. Absent authenticated instructions from the bond official to retain interest, interest received by the custodian on Government obligations pledged to the bond official's agency in accordance with this part will be remitted in the regular course of business to the obligor or to a depositary acting as agent or sub-agent for the obligor.
(c) Principal. Absent authenticated instructions from the bond official to retain the proceeds of matured Government obligations, a custodian will release to the obligor proceeds from matured Government obligations only if the obligor has deposited Government obligations acceptable under 31 U.S.C. 9301, as amended, in substitution for those which have matured.
(d) Liquidation of Government obligations. A custodian will collect, sell, assign, or transfer Government obligations, including any interest therefrom, only in accordance with a bond official's authenticated instructions.
(e) Application of proceeds of liquidated Government obligations. A custodian will apply the proceeds from the collection, sale, assignment, or transfer of Government obligations only in accordance with a bond official's authenticated instructions.

Title 31 published on 2013-07-01

The following are only the Rules published in the Federal Register after the published date of Title 31.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2013-10-02; vol. 78 # 191 - Wednesday, October 2, 2013
    1. 78 FR 60695 - Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Fiscal Service, Bureau of the Fiscal Service
      Final rule.
      This rule is effective on October 2, 2013.
      31 CFR Chapter II, Parts 202-391

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code

Title 31 published on 2013-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 31 CFR 225 after this date.

  • 2013-10-02; vol. 78 # 191 - Wednesday, October 2, 2013
    1. 78 FR 60695 - Regulatory Reorganization; Administrative Changes to Regulations Due to the Consolidation of the Financial Management Service and the Bureau of the Public Debt Into the Bureau of the Fiscal Service
      GPO FDSys XML | Text
      DEPARTMENT OF THE TREASURY, Fiscal Service, Bureau of the Fiscal Service
      Final rule.
      This rule is effective on October 2, 2013.
      31 CFR Chapter II, Parts 202-391