Which aspect of banking is covered under UCC Article 4A?

UCC Article 4A specifically governs wholesale credit transfers, which involve the electronic movement of funds between banks or financial institutions. This part of the Uniform Commercial Code addresses the rights and obligations of parties involved in such transactions, laying out rules for the initiation, authorization, and completion of these transfers.

Understanding the scope of UCC Article 4A is essential for those involved in payment systems, as it ensures consistency and legal clarity in electronic funds transfers. This includes the responsibilities of the originator, the receiving bank, and intermediary banks that might be involved in the process.

The other options, while relevant to banking and finance, do not fall under the purview of UCC Article 4A. Negotiable instruments are typically governed by UCC Article 3. Consumer loans are covered under various regulations and statutes outside the UCC's specific articles. Foreign exchange rates pertain to currency conversion and monetary exchange, which are also not governed by UCC Article 4A.