Regulatory Alerts2019-02-05
Automated Check Processing and Automated Clearing House System Rules
The Central Bank of Liberia establishes comprehensive operational and compliance requirements for the Automated Check Processing (ACP) and Automated Clearing House (ACH) systems through these binding rules. The regulations define the rights, warranties, and liabilities of originating and receiving financial institutions while mandating strict adherence to clearing criteria, electronic entry processing, and settlement accountability. Additionally, the framework standardizes return procedures, dispute resolution mechanisms, record retention standards, and fee structures to ensure consistent system-wide operations.
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