A fiscal agent typically refers to a bank or trust company that manages various financial transactions and responsibilities, such as disbursing funds for dividend payments, redeeming bonds and coupons, handling bond-related taxes, and paying rents.
A Tax and Loan Account is a specialized account held in a private-sector depository institution, managed by the district Federal Reserve Bank as the fiscal agent for the U.S. Treasury, primarily serving as a repository for the operating cash of the U.S. government.
