(a) Reliance by
a Federal Reserve Bank on number to identify an intermediary bank
or beneficiary’s bank. A Federal Reserve Bank may rely on the
number in a payment order that identifies the intermediary bank or
beneficiary’s bank, even if it identifies a bank different from the
bank identified by name in the payment order, if the Federal Reserve
Bank does not know of such an inconsistency in identification. A Federal
Reserve Bank has no duty to detect any such inconsistency in identification.
9-818
(b) Reliance by a Federal Reserve Bank on number
to identify beneficiary. A Federal Reserve Bank, acting as a
beneficiary’s bank, may rely on the number in a payment order that
identifies the beneficiary, even if it identifies a person different
from the person identified by name in the payment order, if the Federal
Reserve Bank does not know of such an inconsistency in identification.
A Federal Reserve Bank has no duty to detect any such inconsistency
in identification.
