Regulation J
Subpart B--Funds Transfers Through Fedwire
Sec. 210.29 Agreement of receiving bank.
(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.
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