In Receiver's agreement-12 CFR 210.28 it is clearly mentioned that:
A.
Receiving bank authorizes the Reserve Bank to credit the receiving bank's account
B.
An off-line bank warrants to the Reserve Bank that it does not act as an intermediary bank or a beneficiary's bank for payment orders received for a beneficiary that is a bank, unless the off-line bank notifies the Reserve Bank in writing
C.
A Reserve Bank has rights of a creditor to recover an overdraft, including the right of set off
D.
Reserve Banks, when acting as beneficiary's bank, payment order that identifies the beneficiary
The correct answer is A. Receiving bank authorizes the Reserve Bank to credit the receiving bank's account. This part of the Receiver's agreement under 12 CFR 210.28 outlines the authorization given by the receiving bank to the Reserve Bank, allowing the Reserve Bank to credit its account in accordance with the payment orders it receives. This is a standard procedure in the funds transfer process, ensuring that funds are appropriately credited to the intended recipient's account within the banking system.
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