12 CFR 210.27 - Reliance on identifying number.

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There are 2 Updates appearing in the Federal Register for 12 CFR 210. View below or at eCFR (GPOAccess)
§ 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.

Title 12 published on 2014-01-01

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.

  • 2014-12-05; vol. 79 # 234 - Friday, December 5, 2014
    1. 79 FR 72107 - Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire: Time of Settlement by a Paying Bank for an Item Received From a Reserve Bank
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Final rule.
      Effective Date: The technical amendment to § 210.2(c) is effective on December 5, 2014. All other amendments are effective on July 23, 2015. Applicability Date: All items scheduled to settle on July 23, 2015, and after will post according to the new posting rule procedures for these transactions, regardless of date of deposit.
      12 CFR Part 210

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United States Code

Title 12 published on 2014-01-01

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

  • 2014-12-05; vol. 79 # 234 - Friday, December 5, 2014
    1. 79 FR 72107 - Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire: Time of Settlement by a Paying Bank for an Item Received From a Reserve Bank
      GPO FDSys XML | Text
      FEDERAL RESERVE SYSTEM
      Final rule.
      Effective Date: The technical amendment to § 210.2(c) is effective on December 5, 2014. All other amendments are effective on July 23, 2015. Applicability Date: All items scheduled to settle on July 23, 2015, and after will post according to the new posting rule procedures for these transactions, regardless of date of deposit.
      12 CFR Part 210