Department who is appointed by bond holders as representative or monitor of bonds is considered as

Department who is appointed by bond holders as representative or monitor of bonds is considered as trustee. A bond trustee is hired by a bond issuer and oversees the implementation of a bond or trust indenture, which is a contract between a bond issuer and a bondholder. The trustee has a fiduciary responsibility to act on behalf of the issuer, rather than in its own interests.