Can I contract with a third–party vendor for vault services and have the vendor be a Custodial Inventory site?
Yes, a third–party vendor such as an armored carrier subcontracted by you to perform your vaulting services, may operate a CI on your behalf. The CI agreement is still between your institution and the Federal Reserve, and your institution will remain responsible for all obligations under the CI Agreement, so you must make sure that your vendor operates the vault and the custodial inventory in accordance with the requirements of the agreement.
