31 CFR § 375.11
Who may participate in a redemption operation?
July 31, 2023
§ 375.11 Who may participate in a redemption operation?
(a) Submitters. To be a submitter, you must be an institution that the Federal Reserve Bank of New York has approved to conduct open market transactions with the Bank.
(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.