210.26—Definitions.
As used in this subpart, the following definitions apply:
(a)
Article 4A means article 4A of the Uniform Commercial Code as set forth in appendix B of this subpart.
(b)
As of adjustment means a debit or credit, for reserve or clearing balance maintenance purposes only, applied to the reserve or clearing balance of a bank that either sends a payment order to a Federal Reserve Bank, or that receives a payment order from a Federal Reserve Bank, in lieu of an interest charge or payment.
(c)
Automated clearing house transfer means any transfer designated as an automated clearing house transfer in a Federal Reserve Bank Operating Circular.
(1)
A Federal Reserve Bank need not be identified in the payment order in order to be the beneficiary's bank; and
(2)
The term includes a Federal Reserve Bank when that Federal Reserve Bank is the beneficiary of a payment order.
(e)
Fedwire is the funds-transfer system owned and operated by the Federal Reserve Banks that is used primarily for the transmission and settlement of payment orders governed by this subpart. Fedwire does not include the system for making automated clearing house transfers.
(f)
Interdistrict transfer means a funds transfer involving entries to accounts maintained at two Federal Reserve Banks.
(g)
Intradistrict transfer means a funds transfer involving entries to accounts maintained at one Federal Reserve Bank.
(h)
Off-line bank means a bank that transmits payment orders to and receives payment orders from a Federal Reserve Bank by telephone orally or by other means other than electronic data transmission.
(i)
Payment order has the same meaning as in Article 4A, except that the term does not include automated clearing house transfers or any communication designated in a Federal Reserve Bank Operating Circular issued under this Subpart as not being a payment order.
(j)
Sender's account, receiving bank's account, and beneficiary's account mean the reserve, clearing, or other funds deposit account at a Federal Reserve Bank maintained or used by the sender, receiving bank, or beneficiary, respectively.
(k)
Sender's Federal Reserve Bank and receiving bank's Federal Reserve Bank mean the Federal Reserve Bank at which the sender or receiving bank, respectively, maintains or uses an account.