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Chapter 3000

MAINTAINING the U.S. TREASURY'S GENERAL ACCOUNT (TGA) (T/L 409)

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This chapter provides instructions that Federal Reserve Banks (FRBs) and branches follow to ensure proper reporting of receipts and charges against the TGA. These instructions apply to each FRB listed in Appendix 1.

Section 3010—Authority

See, inter alia, 12 U.S.C. 90, 265-266, 391.

Section 3015—Background

The TGA, also known as the Federal Reserve Account or the U.S. Government’s checking account, is used by the U.S. Treasury (Treasury) to make interest and redemption payments on Government obligations and to pay Government checks and other items drawn on this account. Deposits into the TGA include funds realized on the sale of Government securities or saving bonds, Federal tax receipts, payments for goods or services rendered by the Government, and payments of FRB earnings. FRB New York (FRB NY) is custodian of the TGA.

FRB Richmond serves as the concentrator bank and conduit for all FRB transcript data and submits this data to Treasury. It warehouses and transmits information to the Financial Management Service (FMS) through FRB CA$HLINK/Automated Transcript System (ATS), an electronic interface application.

ATS enables FRBs to transmit the daily FMS 17: Transcript of the General Account of the U.S. Treasury, and all supporting credit and debit data to Treasury via Connect:Direct. The location and bank code of each FRB/branch office designated as a U.S. Treasury depositary is listed in Appendix 1.

Section 3020—Definition of Terms

Agency Location Code (ALC)—Treasury assigns this three-, four-, or eight-digit numeric symbol to identify its Regional Financial Centers (RFCs), Non-Treasury Disbursing Offices (NTDOs), and Federal Program Agency (FPA) accounting offices.

Automated Transcript System (ATS)—FRBs use this electronic interface application to transmit the daily FMS 17 and all supporting documentation to Treasury via Connect:Direct.

Bank Code—Treasury assigns this three-digit numeric symbol to identify reporting depositaries.

Credit Vouchers—Treasury-designated depositaries prepare credit vouchers to record transactions that increase the TGA balance.

Debit Vouchers—Treasury-designated depositaries prepare debit vouchers to record transactions that decrease the TGA balance.

Depositaries—These are Treasury offices, FRBs or branches, and commercial banking institutions (domestic, foreign, or in territorial possessions) that are authorized to maintain an account for the U.S. Treasury to handle public money transactions.

Electronic Funds Transfer (EFT)—EFT delivery systems are used to transfer funds electronically instead of issuing paper checks. Funds are transferred through computers, magnetic tapes, automated teller machines, or telephones.

Monthly Bank Letters—FMS sends these letters to the FRBs and other depositaries on a monthly basis to notify them of their TGA balances and unmatched reported items.

Public Money—Public money includes any funds of the U.S. Government or any funds the deposit of which is subject to the control or regulation of U.S. Government agencies or offices. Examples include taxes, customs duties, park fees, and public debt receipts.

Public Money Symbol (PMS) Accounts—FMS uses these accounts to summarize daily transactions submitted by depositaries. These accounts have a five-digit (17-XXX) or an eight-digit (2080-XXXX) symbol.

Transcript of the General Account of the U.S. Government (Transcript)—FRBs and other financial institutions submit this transaction report daily to advise Treasury of activity that affects the TGA.

Transit Accounts—These accounts monitor the movement of the U.S. Government monetary assets. Examples of such movements are:

  • Transfer of TGA assets between depositaries;
  • Transfer of cashed unprocessed U.S. Treasury checks between FRB nonprocessing centers and processing centers;

AND

  • Transfer of check data from FRB processing centers to FMS’s Treasury Check Information System (TCIS).

Treasury General Account (TGA)—Designated depositaries maintain this demand deposit account to accept Federal agency deposits, keep operating cash balances, pay Government debts, and report the status of these transactions.

Section 3025—Reporting Requirements

Treasury requires accountability reporting from all designated TGA depositaries and fiscal agents of the U.S. Government. Treasury-designated depositaries may receive deposits of public monies from U.S. Government offices for credit to the TGA or may record charges for payment of the U.S. Government’s expenses. Increases (credits) and decreases (debits) processed against the TGA balance are classified to public money symbols on the transcript and are reported daily via ATS to FMS’s central accounting and reporting system, STAR. FRBs may submit an automated supplemental transcript for required adjustments or additional transactions that are reported for the same business day as the regular transcript report.

3025.10—Transaction Activity

3025.10a—Transaction A: U.S. Treasury’s Operating Cash Balance (Federal Reserve Account)

FRB NY reports Treasury’s operating cash balance on its daily transcript report as line item 4 or transaction code 9 activity. Changes to Treasury’s operating cash balance result from deposits and payments. Deposits include tax collections, customs duties, other revenue, miscellaneous receipts, public debt receipts, and other receipts. Payments include income tax refunds, social security, Veterans/Railroad Retirement Benefit, disaster relief, military aid, and other payments concentrated at FRB NY.

3025.10b—Transaction B: U.S. Treasury’s Tax and Loan (TT&L) Account Balance (Account 17-222)

This account balance reflects Federal taxes deposited in and held by designated TT&L bank depositaries. FRB St. Louis reports PMS account 17-222 transactions to reflect daily TT&L deposits or withdrawals. FRB St. Louis prepares a debit voucher (FMS 62) to PMS account 17-222 for ACH offsets received from all FRBs through the Electronic Federal Tax Deposit System.

When additional funds are needed to supplement the operating balance in the Federal Reserve Account, Treasury “calls the funds” from the TT&L account. FRB St. Louis prepares a credit voucher (FMS 62a) to PMS account 17-222 for the amount of initiated calls for funds to be transferred to the TGA.

3025.10c—Transaction C: Transit Account – Transfer of Cash Between FRBs (Account 17-210)

This account is used to record the net transfer of funds between FRBs. Each FRB must close out or transfer excess cash or TGA balances at the close of each business day to FRB Richmond. The sending FRB debits PMS account 17-210 to record the net transfer to FRB Richmond. FRB Richmond prepares a credit entry to PMS account 17-210 to record the receipt of the transfers from the FRBs. FRB Richmond transfers funds for credit to FRB NY.

FRBs may request Treasury funds when total charges exceed the total available receipts and funds are not sufficient to cover the Government’s daily payments. FRB NY processes a debit to PMS account 17-210 to decrease Treasury’s operating cash and to restore the credit to FRB Richmond. FRB Richmond processes a credit to its bank code and a debit to the branch bank. Then the branch bank processes a credit to itself to cover any TGA daily shortfalls.

3025.10d—Transaction D: FRBs, Deferred Items (FRB Richmond’s Daily TGA Balance)

This account captures the net deferred or unavailable deposits that are pending clearance through the FRB system. This account is used to record deferred items being held by FRB Richmond until the funds are available. The deferred activity is reported on FRB Richmond’s transcript for all FRBs. FRB Richmond does not transfer the deferred balance to FRB NY as part of the daily transfer for debit or credit to the TGA.

As deferred items become available, the funds are made available to Treasury through Transaction C above. FRB Richmond reports the deferred available balance on its daily transcript as an entry on line 4 or as transaction code 9 activity in STAR.

3025.10e—Transaction E: Fedwire Deposits – Unclassified, EFT 2088-0202 (Unclassified)/2088-0001(Suspended)/2088-0208 (Reversals)

These PMS-EFT transaction amounts represent incoming wire transfer transactions processed by FRB NY only and subsequently received and processed via Treasury’s Credit Gateway system. These PMS accounts provide for the reporting and reconciliation of EFT deposits that are pending classification to clear the suspense or reversal in the Credit Gateway.

3025.10f—Transaction F: Adjustment of Treasury Check Payments With FRBs (Account 2080-8017)

TCIS creates check adjustment entries (debit/credit) to PMS account 2080-8017 for check payment adjustments.

3025.10g—Transaction G: Transfer of Unprocessed Treasury Checks, Unclassified (Account 2080-8056)

This account is used by FRB nonprocessing centers to record the net amount of unclassified Treasury checks cashed and then held (truncated) and stored for Treasury. The nonprocessing centers report the debit to PMS account 2080-8056 and ship the checks with the credit voucher by overnight delivery to the processing centers. The processing centers image the checks, send them to the FRB archive site, and report the credit to PMS account 2080-8056 on their transcripts. The symbol, document number, and amounts recorded on the debit and credit voucher must be identical.

3025.10h—Transaction H: Treasury Checks Cashed, Unclassified (Account 2080-8063)

FRB processing centers use this account to record the amount of the received checks that remain unprocessed at the end of the day. They prepare a debit for the amount of the unprocessed checks and report it on the daily transcript to PMS account 2080-8063. The following business day, the FRB credits PMS account 2080-8063 for the amount of the previous day’s debit and completes the check processing activities.

3025.10i—Transaction I: Transfer of Treasury Check Data (Account 2080-8073)

FRB processing centers debit PMS account 2080-8073 for the total amount of checks processed/truncated and forward a transmittal of this data via Connect:Direct transfer line to FMS. TCIS processes the transmittal and reports the credit to PMS account 2080-8073 on its daily transcript. Foreign depositaries that cash Treasury checks also debit this account and forward the credit voucher with the checks to FRB St. Louis for processing against the TGA.

3025.10j—Transaction J: Adjustment of Treasury Check Data (Account 2080-8075)

FRB Atlanta uses this account to charge or credit the TGA when differences are found between the amount of Treasury checks received and the amount reported by foreign depositaries. FRB Atlanta records the appropriate entry to PMS account 2080-8075 and sends a copy back to the depositary for processing.

3025.10k—Transaction K: CA$HLINK II ACH Transfers (Account 2080-8118)

FRB Atlanta uses this account to report the actual ACH settlement of funds, as requested by Treasury CA$HLINK II, for deposits made through TGA depositaries.

CA$HLINK II also debits this account for the total amount of TGA deposits pending ACH settlement with FRB Atlanta. PNC Bank simultaneously credits each ALC for the respective amount included on the ACH funds transfer request. After receiving the funds, FRB Atlanta prepares an FMS 62 credit voucher against PMS account 2080-8118 that ultimately increases its TGA balance.

3025.10l—Transaction L: CA$HLINK FRB Book Entry Transfer (Account 2080-8119)

This account serves as a control account over the detail deposits received by FRB Richmond from all other FRBs. FRB Richmond processes a net credit entry to this account representing the total deposit transactions received and processed each day. CA$HLINK II processes the net debit or offsetting entry to PMS account 2080-8119, as the detail FRB deposit items are received and processed on daily CA$HLINK II transcript reports to Treasury.

3025.10m—Transaction M: Federal Reserve Electronic Tax Application Settlement—FR-ETA (Account 2080-8120)

FR-ETA provides a same-day Federal tax payment mechanism for business tax filers and payroll processors via financial institutions. FR-ETA transactions settle into a separate central summary general ledger account via PMS account 2080-8120. The Transaction Reporting System (TRS) receives ALCs that identify the FPAs and PMS to report collection mechanisms and/or settlement. FMS reconciles using the PMS and ALC for FR-ETA transactions via CASHTRACK.

3025.10n—Transaction N: Transaction Reporting System (TRS) ACH Receiver Book Entry Transfers (Account 2080-8131)

This account reflects individual ACH credits sent to FRB CA$HLINK through FRB Atlanta for credit to individual ALCs. This allows the Federal Government to receive ACH credits directly into the TGA from the private sector for payments to a Federal agency. FRB CA$HLINK, acting as the receiver, sends deposit detail activity totals to FMS via TRS. TRS summarizes all agencies’ ACH credits by ALCs and reports the total deposit activity as a debit to PMS account 2080-8131. TRS automatically generates SF 215 credit vouchers and SF 5515 debit vouchers to account for ACH receiver transactions. FRB Atlanta processes the transfer of funds and reports the total receipts of funds as a credit to PMS account 2080-8131.

3025.10o—Transaction O: Transfer of Gold Bullion or Gold Coins (Account 2080-1043)

When FRBs transfer gold assets between one another, debit and credit vouchers are prepared to support the entry on the FRB transcript. The debit transfer voucher is completed with the authorized signature of the debiting official and the bank code of the receiving depositary. Block 2 (Account Symbol) on this voucher should show PMS account 2080-1043, Transit Account-Treasury-Owned Gold.

The forwarding depositary reports a debit to PMS account 2080-1043. (The credit voucher for PMS account 2080-1043 and the gold asset items are shipped to the receiving FRB). The debit and credit vouchers support the daily transcript reported to Treasury.

3025.10p—Transaction P: Receipt of Treasury-Owned Gold (Accounts 2080-1053)

When gold is received by transfer from another FRB, it is accompanied by a credit voucher to PMS account 2080-1043. The receiving FRB processes a credit to PMS account 2080-1043 and a debit to PMS account 2080-1053 to increase the gold balance. The debit and credit vouchers support the daily transcript reported to Treasury.

3025.10q—Transaction Q: Transfer of Mutilated Currency (Account 2080-1040)

FRBs prepare an SF 5515 debit voucher to document mutilated currency sent to the U.S. Bureau of Engraving and Printing (BEP) reflecting BEP ALC, PMS account 2013-9002. CA$HLINK II reports the SF 5515 on its daily transcript report to FMS. BEP classifies the SF 5515 to account 20A1040 and reports the amount on its FMS 224 in Section I, Classification of Disbursements and Collections, and in Section III, Status of Collections.

3025.10r—Transaction R: E-Commerce – Collections – OCTnet (Account 2080-1870)

FRB Cleveland (Cincinnati Branch) receives ACH debit returns on military checks converted from paper checks into an electronic ACH debit. It processes a debit to PMS account 2080-1870 and a credit to PMS account 17-210.

3025.10s—Transaction S: E-Commerce – Collections – Pay.gov (Account 2080-1871)

FRB Cleveland (Cincinnati Branch) maintains several suspense transit accounts and initiates ACH debits that result in an increase in the TGA balance. FRB Cleveland temporarily classifies these transactions into this suspense account and reports the deposit at the ALC level to CA$HLINK II.

FRB Cleveland (Cincinnati Branch) receives ACH debit returns for insufficient funds. It processes a debit to PMS account 2080-1871 and a credit to PMS account 17-210. FRB Richmond records the net funds requested and transferred to other FRBs when reimbursement is made to member banks.

3025.10t—Transaction T: Check Conversion—Lockbox (Account 2080-1872)

FRB Cleveland initiates the ACH debit that results in an increase to the TGA. FRB Cleveland reports the deposit at the ALC level to CA$HLINK II. If FRB Cleveland receives an ACH debit return, it temporarily classifies it to PMS account 2080-1872 until it makes a final determination.

3025.10u—Transaction U: Check Conversion—Over-the-Counter (Account 2080-1873)

FRB Cleveland initiates the ACH debit that results in an increase to the TGA. FRB Cleveland reports the deposit at the ALC level to CA$HLINK II. If FRB Cleveland receives an ACH debit return, it temporarily classifies it to PMS account 2080-1873 until it makes a final determination.

3025.10v—Transaction V: Electronic Funds Transfer – E-Commerce (Account 2080-1874)

This account reflects the reconciliation of transit account activity related to incoming and outgoing Fedwire transactions for new routing and transit numbers that relate to Fedwire cash concentration. The transit account segregates the current collection engine from new Debit Gateway return transactions processing.

3025.10w—Transaction W: Check Conversion—SSA (Account 2080-1878)

FRB Cleveland initiates the ACH debit that results in an increase to the TGA. FRB Cleveland reports the deposit at the ALC level to TRS. If FRB Cleveland receives an ACH debit return, it temporarily classifies it to PMS account 2080-1878 until it makes a final determination.

3025.20—Preparation and Submission of Treasury’s Automated Transcript

FRB CA$HLINK/ATS captures the public monies transactions processed daily by each FRB. If certain extraordinary circumstances prevent the preparation and submission of Treasury’s automated transcript data, the FRBs must submit a paper copy transcript. The paper copy transcript should include the transaction data, bank name, location, three-digit bank code, report date, and the authorizing signature of the responsible official designated by the depositary. With electronic transmission of the transcript, no authorized signature is required.

FRBs must submit a daily transcript report to account for the transactions that increase or decrease Treasury’s operating cash balance. Even if there is no activity for that day, FRBs must submit a transcript unless FMS is notified of a non-workday status. FRBs may submit supplemental transcripts when needed. FRB NY is the only bank required to report more than one transcript. It submits one regular and one supplemental transcript daily. These transcripts must not be formatted together.

All amounts shown on line 2 (receipts) and line 3 (charges) of the transcript represent the credit and debit documents processed through FRB CA$HLINK. Each FRB transcript is produced by CA$HLINK and is transmitted via Connect:Direct to FRB Richmond. FRBs should refer to the procedures below for transcript reporting.

3025.20a—Credit and Debit Documents

Increases to the TGA are supported by an FMS 62A (credit voucher), and decreases are supported by an FMS 62 (debit voucher). Each credit and debit document processed is shown as a separate entry on continuation forms (FMS 17C and 17M) and should agree to the summary totals reported on lines 2 and 3, respectively.

3025.20b—Voucher or Document Number

Supporting voucher numbers must be reported (key-entered) or system generated and printed on the form. These numbers must not be altered because FMS uses this field to match or reconcile reported transactions. However, if the document is a correction to a previously reported voucher, use the original voucher number.

3025.20c—Contra Bank and Explanation Codes

When preparing and entering transit account data into the ATS, FRBs must include the contra bank code and an explanation code for account 17-210 activity. The contra bank code represents the FRB or Treasury depositary office responsible for reporting the offsetting entry. The explanation code describes the type of account 17-210 transaction that has been processed. See Appendix 2 for the list of account 17-210 explanation codes.

FRBs report these additional data elements in the format prescribed. The field titles are “Description,” “Explanation,” and “Remarks.” The first three spaces are reserved for the three-digit contra bank code (data positions 92-94). The next two spaces are reserved for the explanation code (account 17-210, only).

3025.20d—Validate/Edit of ATS Data

Each FRB and its branches must prepare a regular transcript from the documents processed/generated at its office. Each FRB must ensure the validity of the data entered, including the accuracy of the ALCs and account symbols, before submitting the transcript data to FRB Richmond.

3025.20e—Making Adjusting Entries

An adjusting entry is processed on the current day’s transcript regardless of the transaction date or the date presented or mailed to the bank. However, the document date should be equal to the transaction date of the original transaction.

3025.30—Bank Holidays and Closings

Each November, the Federal Reserve Board submits to FMS a list of the holidays that the Federal Reserve System will observe during the following year. It also submits any supplemental updates to the list of holidays to FMS (see the Contacts page). FMS uses this listing to perform calendar maintenance within STAR. The calendar maintenance updates each FRB’s monthly calendar to reflect these holidays as non-workdays for transcript reporting throughout the entire year.

3025.40—ATS Transmission and Retransmission

FRB transcripts are processed through and reported by FRB CA$HLINK and are sent via Connect:Direct from FRB Richmond to FMS nightly. FRB CA$HLINK must produce all retransmissions, and the process must be coordinated between personnel from the FRB CA$HLINK Central Business Administration Functions (CBAF) office at FRB Richmond, the appropriate FRB, and FMS (see the Contacts page).

3025.50—ATS Transcript Format and Report Date

Regular transcript data from the 22 FRBs is formatted together with FRB Richmond data and sent to Treasury in the same daily transcript file (see Appendices 3 and 4). Under normal circumstances, the report dates are the same. An exception would be an error in the reporting of an FRB transcript.

3025.60—Bulk Transfer Window

FRB CA$HLINK creates all FRB transcripts on a daily basis. It transmits the transcripts for each office to FRB Richmond at approximately 8:30 p.m. EST, or earlier, if processing is completed sooner.

3025.70—Rejected Transmission and Retransmission Requirement

If Treasury detects errors in the Connect:Direct transmission from FRB Richmond, the transcript containing the errors is rejected. FMS’s Cash Control Branch must notify the CA$HLINK CBAF staff at FRB Richmond of rejected transcripts. The correction of any rejected transcripts must be coordinated between personnel from the CA$HLINK CBAF staff at FRB Richmond, the appropriate FRB, and FMS. FRBs may request retransmission of a transcript file from FRB Richmond in the following manner.

  • Treasury identifies the date of transmission (the date the transcript was not received into FMS’s central accounting and reporting system, STAR) or the date of rejection.
  • Treasury calls FRB Richmond to determine if a transcript file was actually received from the FRB. If the transcript file was not received, Treasury contacts the FRB and requests a retransmission of the transcript in question.
  • Treasury provides the necessary information to FRB Richmond concerning the bank transcript in question.

3025.80—FRB ATS Hours of Operation

FRB Richmond’s computer center must shut down daily so files can be initialized. FRB Richmond shuts down at 4 a.m. and restarts at 6 a.m. daily. FRB Richmond’s current time for transmission is from 6 a.m. to 10 p.m., Monday through Friday.

3025.90—ATS Transmission Contingency Procedures

If an FRB cannot transmit daily as required, it must notify its parent office, where applicable, and FMS. The FRB should explain the reason for non-transmission and how long it anticipates the condition to last. FMS instructs the FRB to do one of the following:

  • Hold the transcript until it is able to transmit.
  • Prepare a magnetic tape and express mail it to FMS.
  • Prepare a manual (paper copy) transcript and express mail or fax it to FMS.

Section 3030—Compensation

Beginning in fiscal year 1998, permanent indefinite appropriation language was enacted to reimburse FRBs, in their capacity as depositaries and fiscal agents of the Treasury, for all services required or directed by the Secretary of the Treasury.

Quarterly, the Federal Reserve sends FMS’s Finance Division a bill listing the programs/projects for which the Federal Reserve provides a service to FMS and is requesting reimbursement of a specified dollar amount. The Federal Reserve’s Government Entity Accounting and Reporting System produces the bill. FMS’s Finance Division sends certification statements to the respective FMS program offices. The managers certify that the services provided by the Federal Reserve requests are acceptable. They return these statements to the Finance Division, and FMS initiates a wire payment to the Federal Reserve.

Section 3035—Prescribed Forms

The FMS 17 and its continuation forms, FMS 17C and 17M, are the basic paper-copy transcript documents (see Appendix 5). These forms record transactions and balances affecting the TGA.

FMS requires these forms for depositary use in reporting the ATS transcript data. FRBs may submit paper-copy forms only on an exception basis or whenever electronic data transmission cannot be received. FRBs must retain the transcript data as either paper copy or in electronic media, per FMS’s directives and/or documented National Archives and Records Administration retention schedules.

Appendix 3 provides the instructions and Appendix 4 prescribes the print layout and format an FRB follows when using a computer-generated form instead of the standard printed Treasury form.

3035.10—FMS 17: Transcript of the General Account of the United States Treasury

FMS 17 is the summary accountability report used by Treasury-designated depositaries to record daily transactions affecting the TGA. Original Treasury vouchers, FMS 62s, must support the transactions reported on the FMS 17. All FRBs, except FRB St. Louis, Richmond, and New York must have a zero TGA balance at the end of each business day.

3035.20—FMS 17C: Transcript of the General Account of the United States Treasury, Abstract of Receipts (Continuation Form)

FRBs use FMS 17C to supplement the “Abstract of Receipts” section of the FMS 17 when additional space is needed to list the credit transactions.

3035.30—FMS 17M:Transcript of the General Account of the United States Treasury, Abstract of Charges (Continuation Form)

FRBs use FMS 17M to supplement the “Abstract of Charges” section of the FMS 17 when additional space is needed to list the charge transactions.

Section 3035.40—FMS 62: Non-Deposit Voucher

FMS 62 is a generic debit and credit voucher for nondeposit-type activity. Appendix 6 provides a summary of the PMS accounts applicable to the FMS 62.

Section 3040—Document Retention

All FRBs and branches must maintain FMS 17, 17C, and 17M forms and all FMS 62 vouchers used to create the daily Treasury ATS files. They should retain these documents per FMS directives and the National Archives and Records Administration retention schedules.

Each District FRB should maintain its daily transmitted data files for a minimum of 1 week to facilitate a speedy retransmission when necessary.

Treasury also recommends that FRB Richmond stores all transcripts for a minimum of 10 days in case there is a need for the retransmission of a transcript.

Section 3045—Reconciling Treasury’s General Account

Treasury assures the integrity and accuracy of its operating cash and other monetary asset balances by performing account analyses and reconciliation of public money transactions. Through various systems’ edits and validations, Treasury reconciles the TGA activities and immediately notifies reporting sources of any accounting and/or reporting discrepancies. Treasury’s reconciliation of the TGA is described below.

3045.10—TGA Reconciling Criteria

3045.10a—Funds in Transit/Other Transfer Activity

Transactions to public monies transit/transfer accounts are reconciled on an item-by-item basis. The PMS account document number and transaction amount must be in agreement to clear any unreconciled items. Treasury reports all outstanding PMS transit/transfer account items on the monthly bank letter to the FRB depositaries for review and corrective action. The transit and transfer accounts Treasury currently reconciles include PMS accounts 17-210, 2080-8017, 2080-8056, 2080-8073, 2080-8075, and 2080-1043.

3045.10b—Unprocessed U.S. Treasury Cashed-Check Activity

Treasury maintains a balance for transit account 2080-8063 and monitors it at the FRB level. The unclassified account balance should be adjusted when FRB check processing activities have been completed. Treasury provides account balances to each FRB office on the monthly bank letter for verification against the FRB’s internal records.

3045.10c—Treasury’s Operating Cash Balances

Treasury’s operating cash is recorded as FRB NY’s closing TGA balance, and the TT&L account balance is maintained in account 17-222. FRB Richmond’s closing TGA balance represents the net deferred activity (unavailable cash) of all the FRBs. These balances, as reported on the daily transcript, must be in agreement with the daily transmittal reporting to FMS’s Cash Forecasting Division and the resulting account balance as published in the Daily Treasury Statement. FMS sends a monthly bank letter of balances to the FRBs for verification against their internal records. Also, at fiscal yearend, FMS sends a certification of balances letter to the FRBs.

3045.10d—Unclassified EFT Activity

Treasury reconciles unclassified EFT accounts by document date, PMS account, and total debits or credits. PMS-EFT transaction amounts represent incoming wire transfer deposits received by FRB NY via the Credit Gateway system. These transactions are subsequently received, classified, suspended, or reversed in Treasury CA$HLINK II. EFT transactions represent large-dollar-volume activity (millions daily) that must be reconciled daily by symbol, document date, and amount. The PMS-EFT accounts are 2088-0001, 2088-0202, and 2088-0208.

3045.10e—CA$HLINK ACH Activity

These PMS accounts provide accounting control over Treasury CA$HLINK II processing of the FRB/TGA deposit activity. Treasury CA$HLINK II transactions are reported to the following PMS accounts 2080-8118, 2080-8119, 2080-8131, and 2080-8133.

3045.10f—Treasury-Owned Gold Activity

This activity involves the comparison and reconciliation of transactions reported as purchases, sales, or transfers of U.S. gold reported by the U.S. Mint offices on their Statement of Asset and Liabilities and by the FRBs on their transcripts. These transactions are reconciled with the gold certificate transactions reported by FMS’s Credit Accounting Branch on its Advice of Gold Statements. Monthly, the U.S. gold and gold certificate balances are reconciled to be in agreement (refer to TFM Volume II, Part 6, Chapter 2000). Treasury-owned gold is reported to PMS accounts 2080-1053 and 2080-1043.

3045.20—TGA Reconciliation Schedules

Treasury assists depositaries in the reconciliation of Treasury’s TGA and unclassified account balances by generating monthly bank letters, supported by four types of schedules. The TGA reconciliation schedules are described below.

3045.20a—Report of Balances in Accounts Maintained for the U.S. Treasury

FMS’s Cash Control Branch sends the monthend account balances for the TGA and the unclassified or suspense accounts to the depositaries for reconciliation with their internal records. FRBs are to contact Treasury within 10 days from receipt of the report to resolve any discrepancies.

3045.20b—Schedule of Unmatched Transactions Not Reported by Recipient Banks

This is a list of transactions reported by contra banks that have not been reported by the recipient banks. The contra banks are the depositaries that are involved in the offsetting entry of the transaction. The nonreporting banks should report all valid transactions through regular ATS transmissions and should advise Treasury immediately of any inaccuracies found in the listing.

3045.20c—Schedule of Unmatched Transactions Not Reported by Contra Banks

This is a list of transactions reported by the recipient banks that have not been reported by the contra banks. The reporting banks should review these items to verify the accuracy of the listed transactions. The recipient banks should notify Treasury of the contra banks involved in the transactions if this information is unknown.

3045.20d—Schedule of Missing Transcripts

This list identifies dates for which FMS does not have a bank’s transcript. The bank must provide either a transcript for that date or an explanation for not submitting one (for example, a local bank holiday) on this schedule. It must submit the appropriate report immediately to Treasury.

Section 3050—Processing and Transferring U.S. Treasury Checks

Refer to TFM Volume II, Part 4, Chapter 3000, for guidance on processing and transferring U.S. Treasury checks.


CONTACTS

Direct questions concerning this chapter to:

Department of the Treasury
Bureau of the Fiscal Service
Fiscal Accounting
Cash Accounting Division
3201 Pennsy Drive, Building E
Landover, MD 20785
Telephone: 202-874-9810

Contact the above office before implementing any reporting or accounting changes.

Obtain prescribed forms from:

Property and Supply Section
Department of the Treasury
Ardmore East Business Center
3361-L 75th Avenue
Landover, MD 20785
Telephone: 202-874-3710

Appendices Listing

Appendix No. Form Title
1     Bank Identification Code Listing
2     Explanation Codes for Account 17-210, Transit Account
3     Instructions for Preparing FMS 17, 17C, and 17M
4     Print Format Requirements for Computer-Generated FMS 17, 17C, and 17M
5 FMS 17, 17C, and 17M Transcript of the General Account of the United States Treasury
6     Non-Deposit Public Money Account Symbols To Be Reported on FMS 62: Non-Deposit Voucher

Appendices are available in the PDF version only.


Transmittal Letter No. 409

Volume II

To: Federal Reserve Banks and Branches

1. Purpose

This transmittal letter releases revised II TFM 5-3000: Maintaining the U.S. Treasury’s General Account (TGA). This chapter provides instructions that Federal Reserve Banks (FRBs) and branches follow to ensure proper reporting of receipts and charges against the TGA. These instructions apply to each FRB listed in Appendix 1.

2. Page Changes

Remove
Insert
Table of Contents for Volume II (T/L 407) Table of Contents for Volume II
Table of Contents for Part 5 (T/L 392) Table of Contents for Part 5
II TFM 5-3000 (T/L 347) II TFM 5-3000

3. Effective Date

This transmittal letter is effective immediately.

4. Inquiries

Direct questions concerning this transmittal letter to:

Department of the Treasury
Bureau of the Fiscal Service
Fiscal Accounting
Cash Accounting Division
3201 Pennsy Drive, Building E
Landover, MD 20785
Telephone: 202-874-9810

David A. Lebryk's Signature

David A. Lebryk
Commissioner
Date: March 30, 2012