It is an instrument or promise or order to pay money (whether negotiable or non negotiable) sent by a sender and payable in a Federal Reserve District or sent to and collectible in funds acceptable to a Reserve Bank. An electronic image of this document together with electronic information describing that item in an approved format will be considered a valid instrument.
A) Item
B) Debt collection form
C) Validation form
D) Correspondent check
Correct Answer:
Verified
Q166: A Reserve Bank may present a noncash
Q167: _ is an agent or a subagent
Q168: An electronic image of an item together
Q169: A sender and any prior collecting banks
Q170: By sending an item to a Reserve
Q172: Cash items' payment proceeds must be available
Q173: By presentation or transmission of an item
Q174: The liability of paying and returning banks
Q175: Reserve Banks must issue operating circulars, which,
Q176: The Reserve Bank may recover by charging
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