[Code of Federal Regulations]

[Title 12, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR229.18]



[Page 553-554]

 

                       TITLE 12--BANKS AND BANKING

 

                   CHAPTER II--FEDERAL RESERVE SYSTEM

 

PART 229_AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC)

--Table of Contents

 

  Subpart B_Availability of Funds and Disclosure of Funds Availability 

                                Policies

 

Sec. 229.18  Additional disclosure requirements.



    (a) Deposit slips. A bank shall include on all preprinted deposit 

slips furnished to its customers a notice that deposits may not be 

available for immediate withdrawal.

    (b) Locations where employees accept consumer deposits. A bank shall 

post in a conspicuous place in each location where its employees receive 

deposits to consumer accounts a notice that sets forth the time periods 

applicable to the availability of funds deposited in a consumer account.

    (c) Automated teller machines. (1) A depositary bank shall post or 

provide a notice at each ATM location that funds deposited in the ATM 

may not be available for immediate withdrawal.

    (2) A depositary bank that operates an off-premises ATM from which 

deposits are removed not more than two times each week, as described in 

Sec. 229.19(a)(4), shall disclose at or on the ATM the days on which 

deposits made at the ATM will be considered received.



[[Page 554]]



    (d) Upon request. A bank shall provide to any person, upon oral or 

written request, a notice containing the applicable specific 

availability policy disclosure described in Sec. 229.l6.

    (e) Changes in policy. A bank shall send a notice to holders of 

consumer accounts at least 30 days before implementing a change to the 

bank's availability policy regarding such accounts, except that a change 

that expedites the availability of funds may be disclosed not later than 

30 days after implementation.