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#302609 - 01/12/05 04:32 PM Assigning Ahead & CRT
Jill W Offline
Member
Jill W
Joined: Jun 2002
Posts: 66
River Town
If a bank normally assigns ahead to the next business day at 2:00pm, should a $5100 transaction which takes place at 9:00am on the 2nd and one that takes place at 3:30pm on the 2nd be aggreated for the 2nds CTR purposes? The 3:30pm transaction will appear on the next days reports and on the customers statement with a date of the 3rd.
Any help will be appreciated.

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#302610 - 01/12/05 06:22 PM Re: Assigning Ahead & CRT
GreatBlue Offline
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GreatBlue
Joined: Feb 2003
Posts: 2,362
Colorado
Aggregation for CTR purposes should be by business day. I've not heard the term "assign ahead" but it sounds like the time period when you "cut-off" and everything after that is processed on the next business day.

In that case, I would not aggregate a transaction that occurred prior to cut-off with one that occurred after for CTR reporting.
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#302611 - 01/12/05 06:59 PM Re: Assigning Ahead & CRT
Jill W Offline
Member
Jill W
Joined: Jun 2002
Posts: 66
River Town
GreatBlue -You are right "assigned ahead" is the same as "cut-off" but the term is usually used by financial institutions who are processing in an on-line real time (not batch)environment. These institutions are usually small savings banks or thrifts. Thank you for your opinion on the CTR.

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