Regulation J
Subpart B--Funds Transfers Through Fedwire
Sec. 210.27 Reliance on identifying number.
(a) Reliance by a Federal Reserve Bank on number to identify an
intermediary bank or beneficiary's bank. A Federal Reserve Bank may rely
on the number in a payment order that identifies the intermediary bank
or beneficiary's bank, even if it identifies a bank different from the
bank identified by name in the payment order, if the Federal Reserve
Bank does not know of such an inconsistency in identification. A Federal
Reserve Bank has no duty to detect any such inconsistency in
identification.
(b) Reliance by a Federal Reserve Bank on number to identify
beneficiary. A Federal Reserve Bank, acting as a beneficiary's bank, may
rely on the number in a payment order that identifies the beneficiary,
even if it identifies a person different from the person identified by
name in the payment order, if the Federal Reserve Bank does not know of
such an inconsistency in identification. A Federal Reserve Bank has no
duty to detect any such inconsistency in identification.
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