[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: 12CFR210.4]

[Page 285-286]
 
                       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. 210.4  Sending items to Reserve Banks.

    (a) Sending of items. A sender, other than a Reserve Bank, may send 
any item to any Reserve Bank, whether or not the item is payable within 
the Reserve Bank's District, unless the sender's Administrative Reserve 
Bank directs the sender to send the item to a specific Reserve Bank.
    (b) Handling of items. (1) The following parties, in the following 
order, are deemed to have handled an item that is sent to a Reserve Bank 
for collection--
    (i) The initial sender
    (ii) The initial sender's Administrative Reserve Bank
    (iii) The Reserve Bank that receives the item from the initial 
sender (if different from the initial sender's Administrative Reserve 
Bank); and
    (iv) Another Reserve Bank, if any, that receives the item from a 
Reserve Bank.
    (2) A Reserve Bank that is not described in paragraph (b)(1) of this 
section is not a person that handles an item and is not a collecting 
bank with respect to an item.

[[Page 286]]

    (3) The identity and order of the parties under paragraph (b)(1) of 
this section determine the relationships and the rights and liabilities 
of the parties under this subpart, part 229 of this chapter (Regulation 
CC), and the Uniform Commercial Code. An initial sender's Administrative 
Reserve Bank that is deemed to handle an item is also deemed to be a 
sender with respect to that item. The Reserve Banks that are deemed to 
handle an item are deemed to be agents or subagents of the owner of the 
item, as provided in Sec. 210.6(a) of this subpart.
    (c) Checks received at par. The Reserve Banks shall receive cash 
items and other checks at par.

[Reg. J, 62 FR 48171, Sept. 15, 1997; Reg. J, 69 FR 62558, Oct. 27, 
2004]