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Electronic Code of Federal Regulations

e-CFR data is current as of January 23, 2020

Title 31Subtitle BChapter IISubchapter APart 357Subpart B → §357.15


Title 31: Money and Finance: Treasury
PART 357—REGULATIONS GOVERNING BOOK-ENTRY TREASURY BONDS, NOTES AND BILLS HELD IN TREASURY/RESERVE AUTOMATED DEBT ENTRY SYSTEM (TRADES) AND LEGACY TREASURY DIRECT
Subpart B—Treasury/Reserve Automated Debt Entry System (TRADES)


§357.15   How can a debtor's interest in a Security Entitlement be reached by creditors?

(a) The interest of a debtor may be reached by creditors only by legal process upon the Securities Intermediary with whom the debtor's securities account is maintained. Exception: If a Security Entitlement is maintained in the name of a secured party, the debtor's interest may be reached by legal process upon the secured party.

(b) These regulations do not state whether a Federal Reserve Bank is required to honor an order or other notice of attachment in any particular case or class of cases.

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