[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2006]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR210.3]

[Page 285]
 
                       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 A_Collection of Checks and Other Items By Federal Reserve Banks
 
Sec. 210.3  General provisions.

    (a) General. Each Reserve Bank shall receive and handle items in 
accordance with this subpart, and shall issue operating circulars 
governing the details of its handling of items and other matters deemed 
appropriate by the Reserve Bank. The circulars may, among other things, 
classify cash items and noncash items, require separate sorts and 
letters, provide different closing times for the receipt of different 
classes or types of items, provide for instructions by an Administrative 
Reserve Bank to other Reserve Banks, set forth terms of services, and 
establish procedures for adjustments on a Reserve Bank's books, 
including amounts, waiver of expenses, and payment of interest by as-of 
adjustment.
    (b) Binding effect. This subpart, together with subparts C and D of 
part 229 and the operating circulars of the Reserve Banks, are binding 
on all parties interested in an item handled by any Reserve Bank.
    (c) Government items. As depositaries and fiscal agents of the 
United States, Reserve Banks handle certain items payable by the United 
States or certain Federal agencies as cash or noncash items. To the 
extent provided by regulations issued by, and arrangements made with, 
the United States Treasury Department and other Government departments 
and agencies, the handling of such items is governed by this subpart. 
The Reserve Banks shall include in their operating circulars such 
information regarding these regulations and arrangements as the Reserve 
Banks deem appropriate.
    (d) Government senders. Except as otherwise provided by statutes of 
the United States, or regulations issued or arrangements made 
thereunder, this subpart and the operating circulars of the Reserve 
Banks apply to the following when acting as a sender: a department, 
agency, instrumentality, independent establishment, or office of the 
United States, or a wholly owned or controlled Government corporation, 
that maintains or uses an account with a Reserve Bank.
    (e) Foreign items. A Reserve Bank also may receive and handle 
certain items payable outside a Federal Reserve District, as provided in 
its operating circulars. The handling of such items in a state is 
governed by this subpart, and the handling of such items outside a state 
is governed by the local law.
    (f) Relation to other law. The provisions of this subpart supersede 
any inconsistent provisions of the Uniform Commercial Code, of any other 
state law, or of part 229 of this title, but only to the extent of the 
inconsistency.

[45 FR 68634, Oct. 16, 1980, as amended at 51 FR 21744, June 16, 1986; 
53 FR 21984, June 13, 1988; Reg. J, 59 FR 22965, May 4, 1994; 62 FR 
48171, Sept. 15, 1997; Reg. J, 69 FR 62558, Oct. 27, 2004]