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QUESTION: 164

Reserve Banks must issue operating circulars, which, together with Regulation J, govern the details of handling items through the Reserve Bank, including

Handling of government items and foreign instruments
Handling of foreign instruments
Handling of government items
Handling of clearing instruments

Answer(s): A

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QUESTION: 165

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

A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
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
Reserve Banks must receive cash items and other items (checks) at par
A foreign bank that maintains reserves under the International Banking Act of 1978

Answer(s): A,B,C

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QUESTION: 165

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

A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
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
Reserve Banks must receive cash items and other items (checks) at par
A foreign bank that maintains reserves under the International Banking Act of 1978

Answer(s): A,B,C

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QUESTION: 165

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

A sender other than a Reserve Bank may send any item to the Reserve Bank with which it maintains an account
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
Reserve Banks must receive cash items and other items (checks) at par
A foreign bank that maintains reserves under the International Banking Act of 1978

Answer(s): A,B,C

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