# Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers Through Fedwire
> **US Federal Reserve System** · Final rule. · Published 1997-09-15 · 62 FR 48166
## Document
- **Document number:** 97-24405
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 62 FR 48166
- **CFR reference:** 12 CFR 210
- **Publication date:** 1997-09-15
- **Docket:** Regulation J
## Abstract

Effective January 2, 1998, the Reserve Banks will begin to implement a policy under which each depository institution may maintain only a single funds account with the Federal Reserve. A single account will establish a single debtor-creditor relationship between each institution and a Federal Reserve Bank and will make account management more efficient for banks with interstate branches. The Board is adopting amendments to subpart A of Regulation J to conform the Federal Reserve check collection rules to the single account structure.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1997/09/15/97-24405/collection-of-checks-and-other-items-by-federal-reserve-banks-and-funds-transfers-through-fedwire)
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