The following mentioned points are actually _______________.
"¢ Reserve Banks may rely on numbers given in a payment order to identify an intermediary or beneficiary bank
"¢ Reserve Banks, when acting as beneficiary's bank, may rely on the number in the payment order that identifies the beneficiary
The points mentioned relate to Fedwire transfers. In the Fedwire system, Reserve Banks rely on the numbers provided in a payment order to identify intermediary or beneficiary banks and, when acting as a beneficiary's bank, to identify the beneficiary. This reliance on numerical identifiers is a characteristic feature of the Fedwire funds transfer system, which ensures the quick and secure transfer of funds between financial institutions.
The correct answer is A. Fedwire transfers. The points mentioned relate to practices within the Fedwire system, where Reserve Banks, and other participating institutions, may rely on numerical identifiers (such as routing numbers or account numbers) to identify intermediary banks, beneficiary banks, and beneficiaries in the process of executing payment orders. This reliance on numbers for identification is a characteristic feature of the Fedwire funds transfer system, which facilitates the quick and secure transfer of funds between financial institutions.