C.F.R. » Title 31 » CHAPTER II—FISCAL SERVICE, DEPARTMENT OF THE TREASURY › SUBCHAPTER A—BUREAU OF THE FISCAL SERVICE › PART 375—MARKETABLE TREASURY SECURITIES REDEMPTION OPERATIONS › Subpart B—Offering, Certifications, and Delivery

31 C.F.R. § 375.11

Who may participate in a redemption operation?

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(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.