We hope to refer the proposal to Congress for its consideration once the draft achieves a fair balance between the interests of banks and their customers. Under current law, the original instrument is required for presentment or return of a check, unless the parties agree to accept check information electronically.
BIS Review 42/2001  3  This requirement often limits the adoption of electronic check presentment because of the difficulties of obtaining large numbers of agreements among banks and with maintaining dual processing streams for paper checks and electronic replacements.