31 C.F.R. § 358.12 What is Treasury's liability if the depository institution does not have authority to convert securities?
Title 31 - Money and Finance: Treasury
We are not liable if the depository institution has no authority to convert the bearer corpora and detached bearer coupons to book-entry form or to take other actions in respect to book-entry accounts in BECCS and CUBES.
Title 31: Money and Finance: Treasury
PART 358—REGULATIONS GOVERNING BOOK-ENTRY CONVERSION OF BEARER CORPORA AND DETACHED BEARER COUPONS
§ 358.12 What is Treasury's liability if the depository institution does not have authority to convert securities?
