12 CFR 210.13 - Unpaid items. | Title 12 - Banks and Banking | Code of Federal Regulations

§ 210.13

Unpaid items.

(a) Right of recovery. If a Reserve Bank does not receive payment in actually and finally collected funds for an item, the Reserve Bank shall recover by charge-back or otherwise the amount of the item from the sender, prior collecting bank, paying bank, or returning bank from or through which it was received, whether or not the item itself can be sent back. In the event of recovery from such a person, no person, including the owner or holder of the item, shall, for the purpose of obtaining payment of the amount of the item, have any interest in any reserve balance or other funds or property in the Reserve Bank's possession of the bank that failed to make payment in actually and finally collected funds.

(b) Suspension or closing of bank. A Reserve Bank shall not pay or act on a draft, authorization to charge (including a charge authorized by § 210.9(b)(5) ), or other order on a reserve balance or other funds in its possession for the purpose of settling for items under § 210.9 or § 210.12 after it receives notice of suspension or closing of the bank making the settlement for that bank's own or another's account.

[Reg. J, 59 FR 22966, May 4, 1994, as amended at Reg. J, 69 FR 62561, Oct. 27, 2004]

Title 12 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

2012-04-12; vol. 77 # 71 - Thursday, April 12, 2012

77 FR 21854 - Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire: Elimination of “As-of Adjustments” and Other Clarifications

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-8563
RIN	7100; 84
Regulation	J
Docket No.	R-1434

FEDERAL RESERVE SYSTEM, 12 CFR Part 210

Final rule.

This final rule is effective July 12, 2012.

Summary

The Board is amending Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire). The final rule eliminates references to “as-of adjustments” consistent with the Board's final amendments to Regulation D to simplify reserves administration; clarifies that an institution's Administrative Reserve Bank is deemed to have accepted deposit of a check or other item even if the institution sends the item directly to another Federal Reserve Bank; further clarifies that Regulation J continues to apply to a Fedwire funds transfer even if the funds transfer also meets the definition of “remittance transfer” under the Electronic Fund Transfer Act; and makes other conforming revisions.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code

USC : Title 12 - BANKS AND BANKING

§ 248 - Enumerated powers

§ 342 - Deposits; exchange and collection; member and nonmember banks or other depository institutions; charges

§ 360 - Receiving checks and drafts on deposit at par; charges for collections, exchange, and clearances

§ 464 - Checking against and withdrawal of reserve balance

§ 4001 - Definitions

§ 4002 - Expedited funds availability schedules

§ 4003 - Safeguard exceptions

§ 4004 - Disclosure of funds availability policies

§ 4005 - Payment of interest

§ 4006 - Miscellaneous provisions

§ 4007 - Effect on State law

§ 4008 - Regulations and reports by Board

§ 4009 - Administrative enforcement

§ 4010 - Civil liability

§ 5001 - Findings; purposes

§ 5002 - Definitions

§ 5003 - General provisions governing substitute checks

§ 5004 - Substitute check warranties

§ 5005 - Indemnity

§ 5006 - Expedited recredit for consumers

§ 5007 - Expedited recredit procedures for banks

§ 5008 - Delays in an emergency

§ 5009 - Measure of damages

§ 5010 - Statute of limitations and notice of claim

§ 5011 - Consumer awareness

§ 5012 - Effect on other law

§ 5013 - Variation by agreement

§ 5014 - Regulations

§ 5015 - Study and report on funds availability

§ 5016 - Statistical reporting of costs and revenues for transporting checks between reserve banks

§ 5017 - Evaluation and report by the Comptroller General

§ 5018 - Depositary services efficiency and cost reduction

Title 12 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 210 after this date.

2012-04-12; vol. 77 # 71 - Thursday, April 12, 2012

77 FR 21854 - Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire: Elimination of “As-of Adjustments” and Other Clarifications

GPO FDSys XML | Text

Additional Documents

type	regulations.gov
FR Doc.	2012-8563
RIN	7100; 84
Regulation	J
Docket No.	R-1434

FEDERAL RESERVE SYSTEM, 12 CFR Part 210

Final rule.

This final rule is effective July 12, 2012.

Summary

The Board is amending Regulation J (Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire). The final rule eliminates references to “as-of adjustments” consistent with the Board's final amendments to Regulation D to simplify reserves administration; clarifies that an institution's Administrative Reserve Bank is deemed to have accepted deposit of a check or other item even if the institution sends the item directly to another Federal Reserve Bank; further clarifies that Regulation J continues to apply to a Fedwire funds transfer even if the funds transfer also meets the definition of “remittance transfer” under the Electronic Fund Transfer Act; and makes other conforming revisions.

12 CFR 210.13 - Unpaid items.

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