12 C.F.R. § 210.29 Agreement of receiving bank.
Title 12 - Banks and Banking
(a) Payment. A receiving bank (other than a Federal Reserve Bank) that receives a payment order from its Federal Reserve Bank authorizes that Federal Reserve Bank to pay for the payment order by crediting the amount of the payment order to the receiving bank's account. (b) Off-line banks. An off-line bank that does not expressly notify its Federal Reserve Bank in writing that it maintains an account for another bank warrants to that Federal Reserve Bank that the off-line bank does not act as an intermediary bank or a beneficiary's bank with respect to payment orders received through Fedwire for a beneficiary that is a bank. [55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990]
Title 12: Banks and Banking
PART 210—COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH FEDWIRE (REGULATION J)
Subpart B—Funds Transfers Through Fedwire
§ 210.29 Agreement of receiving bank.
