[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR210.26]

[Page 323-324]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 210--COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH FEDWIRE (REGULATION J)--Table of Contents
 
               Subpart B--Funds Transfers Through Fedwire
 
Sec. 210.26  Definitions.

    As used in this subpart, the following definitions apply:
    (a) Article 4A means article 4A of the Uniform Commercial Code as 
set forth in appendix B of this subpart.
    (b) As of adjustment means a debit or credit, for reserve or 
clearing balance maintenance purposes only, applied to the reserve or 
clearing balance of a bank that either sends a payment order to a 
Federal Reserve Bank, or that receives a payment order from a Federal 
Reserve Bank, in lieu of an interest charge or payment.
    (c) Automated clearing house transfer means any transfer designated 
as an automated clearing house transfer in a Federal Reserve Bank 
Operating Circular.
    (d) Beneficiary's bank has the same meaning as in Article 4A, except 
that:
    (1) A Federal Reserve Bank need not be identified in the payment 
order in order to be the beneficiary's bank; and
    (2) The term includes a Federal Reserve Bank when that Federal 
Reserve Bank is the beneficiary of a payment order.
    (e) Fedwire is the funds-transfer system owned and operated by the 
Federal Reserve Banks that is used primarily for the transmission and 
settlement of payment orders governed by this subpart. Fedwire does not 
include the system for making automated clearing house transfers.
    (f) Interdistrict transfer means a funds transfer involving entries 
to accounts maintained at two Federal Reserve Banks.
    (g) Intradistrict transfer means a funds transfer involving entries 
to accounts maintained at one Federal Reserve Bank.
    (h) Off-line bank means a bank that transmits payment orders to and 
receives payment orders from a Federal Reserve Bank by telephone orally 
or by other means other than electronic data transmission.
    (i) Payment order has the same meaning as in Article 4A, except that 
the term does not include automated clearing house transfers or any 
communication designated in a Federal Reserve Bank Operating Circular 
issued under this Subpart as not being a payment order.
    (j) Sender's account, receiving bank's account, and beneficiary's 
account mean the reserve, clearing, or other funds deposit account at a 
Federal Reserve Bank maintained or used by the sender, receiving bank, 
or beneficiary, respectively.
    (k) Sender's Federal Reserve Bank and receiving bank's Federal 
Reserve Bank mean the Federal Reserve Bank at

[[Page 324]]

which the sender or receiving bank, respectively, maintains or uses an 
account.

[55 FR 40801, Oct. 5, 1990; 55 FR 47428, Nov. 13, 1990]