T-Bills are purchased by Depository Institutions, who pay for them with Excess Reserves, or Vault Cash.

FORBES: Congress' Money Vault

Congress passed the Depository Institutions Deregulation and Monetary Control Act of 1980, and the Garn-St.

FORBES: Magazine Article

The TAF is for depository institutions, which are essentially banks, and the TSLF is for security dealers.

FORBES: Magazine Article

In addition, AFS providers are not insured as depository institutions by the FDIC.

FORBES: Why 7.7% of Americans Are Unbanked

The discount facility bypasses the money markets and allows a far wider range of depository institutions to borrow cash directly from the Fed, with a broader range of assets as collateral.

ECONOMIST: The Fed lowers its discount rate

When the Fed makes loans or acquires securities, the funds enter the banking system and ultimately appear in the reserve accounts held at the Fed by banks and other depository institutions.

WSJ: Bernanke Op-ed in WSJ: The Fed��s Exit Strategy

Recent court documents have revealed that money that was invested in the CD was sent to the Antiguan bank and subsequently rerouted back to the states to be held in a number of U.S. depository institutions.

FORBES: Stanford's Victims Still In The Dark

While total Fed earnings include fees for services like check clearing and wire transfers provided to depository institutions, the bulk of the earnings come from interest on loans and securities acquired as a by-product of its monetary policy.

FORBES: Big Fed Profits Are Another Benefit Of Wise Balance-Sheet Expansion

They pointed to Target 2 Securities and a foreign exchange trade depository being developed by DTCC and SWIFT as examples of industry platforms which will be used by multiple institutions.

FORBES: Banks Can Add Two Points to ROE By Reducing Complexity Says IBM