12 C.F.R. § 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 the Fedwire Funds Service for a beneficiary that is a bank.
Notes of Decisions
Cited in 2
cases (1 in the last 5 years), 1989–2022 · leading case: David K. Richards v. Platte Valley Bank, H. Ray Christman & Attorneys' Title Guar. Fund, Inc., 866 F.2d 1576 (10th Cir. 1989).
David K. Richards v. Platte Valley Bank, H. Ray Christman & Attorneys' Title Guar. Fund, Inc., 866 F.2d 1576 (10th Cir. 1989). “12 C.F.R. § 210.29 . The Reserve Bank then sends the transfer item to the transferee bank which makes the amount available to the beneficiary.”
Horta Suarez v. Internal Revenue Serv. (S.D.N.Y. 2022). “25 – Authority, purpose, and scope; 12 CFR 210.29 – Agreement of receiving bank; 12 CFR § 210.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.