[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: 12CFR210.27]

[Page 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. 210.27  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.