C.F.R. » Title 12 » CHAPTER II—FEDERAL RESERVE SYSTEM › SUBCHAPTER A—BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM › PART 229—AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC) › Subpart B—Availability of Funds and Disclosure of Funds Availability Policies

12 C.F.R. § 229.10

Next-day availability

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(a) Cash deposits. (1) A bank shall make funds deposited in an account by cash available for withdrawal not later than the business day after the banking day on which the cash is deposited, if the deposit is made in person to an employee of the depositary bank.

(2) A bank shall make funds deposited in an account by cash available for withdrawal not later than the second business day after the banking day on which the cash is deposited, if the deposit is not made in person to an employee of the depositary bank.

(b) Electronic payments—(1) In general. A bank shall make funds received for deposit in an account by an electronic payment available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment.

(2) When an electronic payment is received. An electronic payment is received when the bank receiving the payment has received both—

(i) Payment in actually and finally collected funds; and

(ii) Information on the account and amount to be credited.

A bank receives an electronic payment only to the extent that the bank has received payment in actually and finally collected funds.

(c) Certain check deposits—(1) General rule. A depositary bank shall make funds deposited in an account by check available for withdrawal not later than the business day after the banking day on which the funds are deposited, in the case of—

(i) A check drawn on the Treasury of the United States and deposited in an account held by a payee of the check;

(ii) A U.S. Postal Service money order deposited—

(A) In an account held by a payee of the money order; and

(B) In person to an employee of the depositary bank.

(iii) A check drawn on a Federal Reserve Bank or Federal Home Loan Bank and deposited—

(A) In an account held by a payee of the check; and

(B) In person to an employee of the depositary bank;

(iv) A check drawn by a state or a unit of general local government and deposited—

(A) In an account held by a payee of the check;

(B) In a depositary bank located in the state that issued the check, or the same state as the unit of general local government that issued the check;

(C) In person to an employee of the depositary bank; and

(D) With a special deposit slip or deposit envelope, if such slip or envelope is required by the depositary bank under paragraph (c)(3) of this section.

(v) A cashier's, certified, or teller's check deposited—

(A) In an account held by a payee of the check;

(B) In person to an employee of the depositary bank; and

(C) With a special deposit slip or deposit envelope, if such slip or envelope is required by the depositary bank under paragraph (c)(3) of this section.

(vi) A check deposited in a branch of the depositary bank and drawn on the same or another branch of the same bank if both branches are located in the same state or the same check processing region; and,

(vii) The lesser of—

(A) $275, or

(B) The aggregate amount deposited on any one banking day to all accounts of the customer by check or checks not subject to next-day availability under paragraphs (c)(1) (i) through (vi) of this section.

(2) Checks not deposited in person. A depositary bank shall make funds deposited in an account by check or checks available for withdrawal not later than the second business day after the banking day on which funds are deposited, in the case of a check deposit described in and that meets the requirements of paragraphs (c)(1) (ii), (iii), (iv), and (v), of this section, except that it is not deposited in person to an employee of the depositary bank.

(3) Special deposit slip. (i) As a condition to making the funds available for withdrawal in accordance with this section, a depositary bank may require that a state or local government check or a cashier's, certified, or teller's check be deposited with a special deposit slip or deposit envelope that identifies the type of check.

(ii) If a depositary bank requires the use of a special deposit slip or deposit envelope, the bank must either provide the special deposit slip or deposit envelope to its customers or inform its customers how the slip or envelope may be prepared or obtained and make the slip or envelope reasonably available.

[53 FR 19433, May 27, 1988, as amended at 84 FR 31696, July 3, 2019; 89 FR 43738, May 20, 2024]
Notes of Decisions
Cited in 16 cases (6 in the last 5 years), 1991–2024 · leading case: Nix v. NASA Fed. Credit Union, 200 F. Supp. 3d 578 (D. Maryland 2016).
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Nix v. NASA Fed. Credit Union, 200 F. Supp. 3d 578 (D. Maryland 2016). · cites it 2× “§§ 4001-4010 ; and its implementing regulations, 12 C.F.R. § 229.10 et seq. (Count I); disclosed his personal identifying information to a third party without his consent in violation of the U.”
Nat'l Check v. First Fid. Bank, 658 A.2d 1375 (Pa. Super. Ct. 1995). · cites it 2× “[2] *214 In essence, appellant challenges the grant of a demurrer, arguing that the complaint "states a claim upon which relief can be granted under section 4-302 of the Uniform Commercial Code.”
Jicarilla Apache Nation v. United States, 100 Fed. Cl. 726 (Fed. Cl. 2011). “§ 4002 (a)(2)(A); 12 C.F.R. § 229.10 (c)(l)(i). Under these provisions, once a Treasury cheek is issued, a government liability is immediately recognized.”
Peter S. Knudsen, Jr. v. United States, 966 F.2d 733 (2d Cir. 1992). “” 12 C.F.R. § 229.10 (c) (1992). A “taxpayer’s deposit of FICA, FUTA, and withheld income taxes in an authorized bank” acting as a depository for the IRS “is treated as a payment of such taxes to the United States Treasury,” even though the deposits to the depository account…”
First Sec. Bank of New Mexico, N.A. v. Pan Am. Bank, 215 F.3d 1147 (10th Cir. 2000). “12 C.F.R. § 229.10 (b). We cannot ascertain from the plain statutory language why funds are not “otherwise made available” to a beneficiary *1157 and why payment does not occur when a beneficiary’s bank credits a beneficiary’s account and immediately makes the funds available to…”
Peter E. Shapiro, P.A. v. Wells Fargo Bank, N.A., 352 F. Supp. 3d 1226 (S.D. Fla. 2018). “12 C.F.R. § 229.10 (b). The Board's regulations created legal uncertainty about banks' obligations and liabilities.”
Ma v. U.S. Bank, Nat'l Ass'n, 2023 IL App (1st) 221556-U (Ill. App. Ct. 2023). “¶ 16 In Count II, she alleged that the bank violated Regulation CC’s funds availability requirements for cash and electronic deposits (see 12 C.F.R. §§ 229.10 (a), (b); 229.12(b) (Jan.”
Driverdo LLC v. JP Morgan Chase Bank, N.A. (N.D. Ill. 2021). · cites it 2× “” 12 C.F.R. § 229.10 (b)(1). Section 4010(a) provides that “any depository institution which fails to comply with any requirement imposed under this chapter or any regulation prescribed under this chapter with respect to any person other than another depository institution is…”
Lopez v. City of New York, 152 Misc. 2d 817 (N.Y. Sup. Ct. 1991). “Under current regulations, the check of a governmental entity such as the city creates "next day” funds ( 12 USC § 4002 [a] [2] [C]; 12 CFR 229.10 [c] [1] [iv]; see, UCC 4-213 [5]; 12 USC § 4007 [b]).”
First Sec. Bank, of New Mexico, N.A., Plaintiff-Counter-Defendant-Appellant v. Pan Am. Bank, Defendant-Counter-Claimant-Cross-Defendant-Appellee v. 1st State Inv. Co. Mather Fed. Credit Union John P. McGovern Found., Defendants-Counter-Claimants-Cross-Claimants-Appellees, New Mexico Bankers Ass'n, Amicus Curiae. First Sec. Bank, of New Mexico, N.A., Plaintiff-Counter-Defendant-Appellee v. Pan Am. Bank, Defendant-Counter-Claimant-Cross-Defendant-Appellant v. 1st State Inv. Co. Mather Fed. Credit Union John P. McGovern Found., Defendants-Counter-Claimants-Cross-Claimants, New Mexico Bankers Ass'n, Amicus Curiae, 215 F.3d 1147 (1st Cir. 2000). “12 C.F.R. 229.10(b). 41 We cannot ascertain from the plain statutory language why funds are not "otherwise made available" to a beneficiary and why payment does not occur when a beneficiary's bank credits a beneficiary's account and immediately makes the funds available to the…”
People of Michigan v. Alexander James Horton (Mich. Ct. App. 2023). “Under 12 CFR 229.10(c)(1)(vii), “[a] depositary bank shall make funds deposited in an account by check available for withdrawal not later than the business day after the banking day on which the funds are deposited,” but only as to “the [amount] of .”
Driverdo LLC v. JP Morgan Chase Bank, N.A. (N.D. Ill. 2022). “§ 4002 (a)(1)(B); 12 C.F.R. § 229.10 (b)(1). Thus, to show an EFA Act violation, DriverDo is required to come forward with some evidence that it had made a specific type of deposit that is covered by the EFA Act and that Chase held that deposit beyond the specific timeframe…”
Show all 16 citing cases →
— 12 C.F.R. § 229.10(b) — 1 case
First Sec. Bank, of New Mexico, N.A., Plaintiff-Counter-Defendant-Appellant v. Pan Am. Bank, Defendant-Counter-Claimant-Cross-Defendant-Appellee v. 1st State Inv. Co. Mather Fed. Credit Union John P. McGovern Found., Defendants-Counter-Claimants-Cross-Claimants-Appellees, New Mexico Bankers Ass'n, Amicus Curiae. First Sec. Bank, of New Mexico, N.A., Plaintiff-Counter-Defendant-Appellee v. Pan Am. Bank, Defendant-Counter-Claimant-Cross-Defendant-Appellant v. 1st State Inv. Co. Mather Fed. Credit Union John P. McGovern Found., Defendants-Counter-Claimants-Cross-Claimants, New Mexico Bankers Ass'n, Amicus Curiae, 215 F.3d 1147 (1st Cir. 2000). “12 C.F.R. 229.10(b). 41 We cannot ascertain from the plain statutory language why funds are not "otherwise made available" to a beneficiary and why payment does not occur when a beneficiary's bank credits a beneficiary's account and immediately makes the funds available to the…”
— 12 C.F.R. § 229.10(c)(1)(vii) — 1 case
People of Michigan v. Alexander James Horton (Mich. Ct. App. 2023). “Under 12 CFR 229.10(c)(1)(vii), “[a] depositary bank shall make funds deposited in an account by check available for withdrawal not later than the business day after the banking day on which the funds are deposited,” but only as to “the [amount] of .”
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