31 CFR § 357.43 - Liability for transfers to and from Legacy Treasury Direct ®.

§ 357.43 Liability for transfers to and from Legacy Treasury Direct ®.

A depository institution or other entity that transfers to, or receives, a security from Legacy Treasury Direct is deemed to be acting as agent for its customer and agrees thereby to indemnify the United States and the Federal Reserve Banks for any claim, liability, or loss resulting from the transaction.