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One of the Check Collection Requirements Is Sending Items to Reserve

Question 165

Multiple Choice

One of the check collection requirements is sending items to Reserve Banks. In this requirement:


A) A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
B) The following parties are deemed to have handled items, in this order: • The initial sender • The initial sender's administrative Reserve Bank • The Reserve Bank that receives the item from the initial sender • Any other Reserve Bank that receives the item from a Reserve Bank
C) Reserve Banks must receive cash items and other items (checks) at par
D) A foreign bank that maintains reserves under the International Banking Act of 1978

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