Regulation J
Subpart A--Collection of Checks and Other Items By Federal Reserve Banks
Sec. 210.15 Direct presentment of certain warrants.
If a Reserve Bank elects to present direct to the payor a bill,
note, or warrant that is issued and payable by a State or a political
subdivision and that is a cash item not payable or collectible through a
bank: (a) Sections 210.9, 210.12, and 210.13 and the operating circulars
of the Reserve Banks apply to the payor as if it were a paying bank; (b)
Sec. 210.14 applies to the payor as if it were a bank; and (c) under
Sec. 210.9 each day on which the payor is open for the regular conduct
of its affairs or the accommodation of the public is considered a
banking day.
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!
