12 CFR § 210.31 - Payment by a Federal Reserve Bank to a receiving bank or beneficiary.

---
identifier: "/us/cfr/t12/s210.31"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 210.31 - Payment by a Federal Reserve Bank to a receiving bank or beneficiary."
title_number: 12
title_name: "Banks and Banking"
section_number: "210.31"
section_name: "Payment by a Federal Reserve Bank to a receiving bank or beneficiary."
chapter_name: "FEDERAL RESERVE SYSTEM"
subchapter_number: "A"
subchapter_name: "BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM"
part_number: "210"
part_name: "COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH THE FEDWIRE FUNDS SERVICE AND THE FEDNOW SERVICE (REGULATION J)"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 248(i), (j), and 248-1, 342, 360, 464, 4001-4010, and 5001-5018."
regulatory_source: "45 FR 68634, Oct. 16, 1980, unless otherwise noted."
cfr_part: "210"
---


# 210.31 Payment by a Federal Reserve Bank to a receiving bank or beneficiary.

(a) *Payment to a receiving bank.* Payment of a Federal Reserve Bank's obligation to pay a receiving bank (other than a Federal Reserve Bank) occurs at the earlier of the time when the amount of the payment order is credited to the receiving bank's account or when the payment order is sent to the receiving bank.

(b) *Payment to a beneficiary.* Payment by a Federal Reserve Bank to a beneficiary of a payment order, where the Federal Reserve Bank is the beneficiary's bank, occurs at the earlier of the time when the amount of the payment order is credited to the beneficiary's account or when notice of the credit is sent to the beneficiary.