Regulation J
Subpart A--Collection of Checks and Other Items By Federal Reserve Banks
Sec. 210.10 Time schedule and availability of credits for cash items and returned checks.
(a) Each Reserve Bank shall include in its operating circulars a
time schedule for each of its offices indicating when the amount of any
cash item or returned check received by it (or sent direct to another
Reserve office for the account of that Reserve Bank) is counted as
reserves for purposes of part 204 of this chapter (Regulation D) and
becomes available for use by the sender or paying or returning bank. The
Reserve Bank shall give either immediate or deferred credit in
accordance with its time schedule to a sender or paying or returning
bank other than a foreign correspondent. A Reserve Bank ordinarily gives
credit to a foreign correspondent only when the Reserve Bank receives
payment of the item in actually and finally collected funds, but, in its
discretion, a Reserve Bank may give immediate or deferred credit in
accordance with its time schedule.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
