GroundRules
12 CFR 1271.3: General provisions.
Where this section sits in the code
- Title 12—Banks and Banking
- CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY
- SUBCHAPTER D—FEDERAL HOME LOAN BANKS
- PART 1271—MISCELLANEOUS FEDERAL HOME LOAN BANK OPERATIONS AND AUTHORITIES
- Subpart A—Collection, Settlement, and Processing of Payment Instruments
The Banks are authorized to:
(a) Engage in, be agents or intermediaries for, or otherwise participate or assist in, the processing, collection, and settlement of checks, drafts, or any other negotiable or nonnegotiable items and instruments of payment drawn on eligible institutions or Bank members; and
(b) Be drawees of checks, drafts, and other negotiable and nonnegotiable items and instruments issued by eligible institutions or Bank members.
Collected 2026-08-27T02:24:16Z. Source file · JSON