[Code of Federal Regulations]
[Title 39, Volume 1]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 39CFR762.27]

[Page 211]
 
                        TITLE 39--POSTAL SERVICE
 
                 CHAPTER I--UNITED STATES POSTAL SERVICE
 
PART 762_DISBURSEMENT POSTAL MONEY ORDERS--Table of Contents
 
 Subpart B_Endorsements, Payment, Guaranties, Warranties and Processing 
                   of Disbursement Postal Money Orders
 
Sec. 762.27  Processing of disbursement postal money orders by Federal 
Reserve Banks.

    In accordance with an agreement between the Postal Service and the 
Federal Reserve Banks as depositaries and fiscal agents of the United 
States, Federal Reserve Banks will handle Disbursement Postal Money 
Orders as follows:
    (a) Federal Reserve Banks shall not be expected to cash Disbursement 
Postal Money Orders presented directly to them for payment; and
    (b) Each Federal Reserve Bank shall:
    (1) Receive Disbursement Postal Money Orders from its member banks, 
and its other depositors which guarantee all prior endorsements thereon;
    (2) Give immediate credit therefor in accordance with its current 
Time Schedules and charge the amount thereof to the general account of 
the U.S. Treasury, subject to examination and payment by the Postal 
Service; and
    (3) Forward the Disbursement Postal Money Orders to the Postal 
Service.