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If a respondent bank uses a correspondent bank for its Reserve Account entries, which institution is receiving the cash access service from the FR office?

April 26, 2017account Bank cash correspondent entries institution Reserve respondent uses

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If a respondent bank uses a correspondent bank for its Reserve Account entries, which institution is receiving the cash access service from the FR office?

1 Answer

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The flow of accounting charges/credits is not relevant to the UCAP. The Cash Department records will reflect the respondent bank as the transaction originator, which is the receiver of the access.