Moreover, the Federal Reserve may provide information to European Union member bank supervisors when administrative penalties have been imposed or any other formal enforcement action has been taken against a U.S. banking organization (whether or not it is related to anti-money laundering requirements) if the Federal Reserve believes such information will be important to the host country supervisor.
By this term, I mean the range of fiscal agency services that the Federal Reserve provides to the Treasury by statute. 8 For example, the Federal Reserve maintains the Treasury’s operating account, accepting deposits, paying checks, and making electronic payments on behalf of the Treasury. It provides securities services on behalf of the Treasury, supporting the auction, issuance, and redemption of marketable Treasury securities.