Can somebody please point me in the right direction in the regulation regarding placing a hold on a US Treasury check over $5000?

Thank you!

Two places, both in section 229.13:

229.13(a) on new account holds. The excess of next day items over the first $5,000 can be held, and made available by the 9th business day.

229.13(b) on large check deposits. A hold to be released by the 7th business day can be placed on the excess over $5,000 of the total amount of checks deposited (including next day items).

Also, under 229.12, you can place a statutory hold (funds available by the 2nd business day after day of deposit) on a T-check if it is not deposited to an account of a payee of the check.

So we would be ok to place a hold on a new account in which a treasury check over 5K was deposited into?

You can hold the amount over $5,000. so if it's a 6,000 treasury check, you can only place the hold for $1,000.

Ok, thanks!

...if your disclosure includes the new account exception hold language. Otherwise, no.

I'm glad that Ken weighed in with that caveat ^^^. It's one of the Reg CC "gotchas" that I have seen missed quite often.

If you don't disclose that you have special availability rules for new accounts (see Model Clauses C-2 and C-3 for examples), you can't treat new accounts differently.

Question in regards to new accounts. If a customer uses one check to split between a new checking and savings account can the bank place holds as follows:

$5,000 check; $4,000 deposited in checking (7 day Reg CC hold for new checking accounts, which is disclosed in our funds availability policy); $1,000 deposited in savings (7 day teller hold placed to match the checking account hold timeframe).

Can't find anything regarding split deposits and want to make sure we're good to go. I believe we are, but would like additional feedback. Thank you!