31 CFR 375.11
§ 375.11 Who may participate in a redemption operation?
United States · 31 CFR — Money and Finance: Treasury · Status: effective
Cite this
- Citation
- 31 CFR 375.11, § 375.11 Who may participate in a redemption operation?, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/140682
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Full text
(a) Submitters. To be a submitter, you must be:
(1) An institution that the Federal Reserve Bank of New York has designated as a primary dealer; or
(2) An entity approved by the Treasury Department to participate directly in redemption operations.
(b) Others. A person or entity other than a submitter may participate only if it arranges to have an offer or offers submitted on its behalf by a submitter.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.