In Sender's agreement-12 CFR 210.28 it is clearly mentioned that:

Reserve Banks have the right to debit payment amounts from accounts of senders with the Reserve Bank
Senders have the right to create overdrafts in their accounts at the Reserve Bank; any overdraft is due and payable, without demand, at the end of the funds transfer day, when the Reserve Bank deems itself to be insecure, or at the time the sender suspends payments or is closed, whichever is earlier
Sender gives the Reserve Bank a security interest in all of sender's assets that are in the possession of the Reserve Bank to secure any obligations to the Reserve Bank, including an overdraft
Senders have 25 calendar days after receiving notice of a payment order to notify a Reserve Bank of an erroneously executed or unauthorized payment order

Answer(s): B,C

In Receiver's agreement-12 CFR 210.28 it is clearly mentioned that:

Receiving bank authorizes the Reserve Bank to credit the receiving bank's account
An off-line bank warrants to the Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for payment orders received for a beneficiary that is a bank, unless the off-line bank notifies the Reserve Bank in writing
A Reserve Bank has rights of a creditor to recover an overdraft, including the right of set off
Reserve Banks, when acting as beneficiary's bank, payment order that identifies the beneficiary

Answer(s): A,B

In Receiver's agreement-12 CFR 210.28 it is clearly mentioned that:

Receiving bank authorizes the Reserve Bank to credit the receiving bank's account
An off-line bank warrants to the Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for payment orders received for a beneficiary that is a bank, unless the off-line bank notifies the Reserve Bank in writing
A Reserve Bank has rights of a creditor to recover an overdraft, including the right of set off
Reserve Banks, when acting as beneficiary's bank, payment order that identifies the beneficiary

Answer(s): A,B

In Receiver's agreement-12 CFR 210.28 it is clearly mentioned that:

Receiving bank authorizes the Reserve Bank to credit the receiving bank's account
An off-line bank warrants to the Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for payment orders received for a beneficiary that is a bank, unless the off-line bank notifies the Reserve Bank in writing
A Reserve Bank has rights of a creditor to recover an overdraft, including the right of set off
Reserve Banks, when acting as beneficiary's bank, payment order that identifies the beneficiary

Answer(s): A,B

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