Federal Reserve Communications System Law and Legal Definition
According to 27 CFR 19.11 [Title 27 Alcohol, Tobacco Products and Firearms; Chapter I Alcohol and Tobacco Tax and Trade Bureau, Department of the Treasury; Subchapter A Alcohol; Part 19 Distilled Spirits Plants], commercial bank is a bank, whether or not a member of the Federal Reserve system, which has access to the Federal Reserve Communications System (FRCS) or Fedwire. The "FRCS" or "Fedwire" is a communications network that allows Federal Reserve System member banks to effect a transfer of funds for their customers (or other commercial banks) to the Treasury Account at the Federal Reserve Bank of New York.
Legal Definition list
- Federal Reserve Board of Governors
- Federal Reserve Bank Operating Circular
- Federal Reserve Bank (FRB)
- Federal Reserve Act
- Federal Reserve
- Federal Reserve Communications System
- Federal Reserve Conspiracy Theory
- Federal Reserve District
- Federal Reserve Float
- Federal Reserve Note
- Federal Reserve Processing Center
Related Legal Terms
- 9-1-1 System
- Accelerated Cost Recovery System
- Accompanying the Federal Government Outside the United States
- Active Guard and Reserve Duty
- Active Guard and Reserve(AGR)
- Active Solar System
- Active Voters [Federal Elections]
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
- Actuarially Sound Retirement System
