Regional Check Processing Center Law and Legal Definition
Regional Check Processing Center (RCPC) is a Federal Reserve check clearing system which receives and collects checks drawn on banks within that region. RCPCs expedite collection and settlement of checks within the area on an overnight basis.
The following is an example explaining the functioning of RCPC:
A bank in Atlanta that wants to expedite the collection of a check drawn on an Arizona bank can forward the check directly to the RCPC serving Arizona. The Arizona center will give the Atlanta bank credit at the Federal Reserve Bank serving Atlanta, and then collect the check proceeds faster than the Atlanta bank could have.
Legal Definition list
- Regional Bank
- Regional Advisory Body
- Regimen
- Regime
- Regidor
- Regional Check Processing Center
- Regional Commission [Economic Development Administration, Department of Commerce]
- Regional Director of Motor Carriers
- Regional Disposal Facility [Energy]
- Regional Economic Integration Organization
- Regional Emergency Transportation Coordinator [RETCO]
Related Legal Terms
- Accommodation Check
- Active Uranium or Thorium Processing Site
- Aging and Disability Resource Center
- Air Force Technical Applications Center [AFTAC]
- American Federation of Information Processing Societies
- Appalachian Regional Commission
- Application Support Centers
- Archival Processing
- Area Health Education Center Program (AHECP)
- Assessment Center [Education]
