§ 210.31. Payment by a Federal Reserve Bank to a receiving bank or beneficiary.
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/us/cfr/t12/s§ 210.31A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Payment to a receiving bank. Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's account or when the payment order is sent to the receiving bank.
(b)Payment to a beneficiary. Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of the time when the amount of the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary.
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§ 210.31
Payment by a Federal Reserve Bank to a receiving bank or beneficiary.
Fed. Reg.×1
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