Reg CC: Does the "$100" Rule apply to each deposit, or to aggregated deposits?

Question:

Does the "$100 rule" under Reg CC apply separately to each deposit made on a given day or to the aggregate of all deposits made in one day?

Answer:

The Commentary to Regulation CC states, "The act and regulation ...require that up to $100 of the aggregate deposit by check or checks not subject to next-day availability on any one banking day be made available on the next business day."(See 12 CFR 229.10(c)(5)(a))

In other words, apart from any deposits by cash, electronic payment, or other high priority check (e.g., U.S. Treasury checks), you must make the first $100 of the day's total deposit of other checks available the next business day. If the customer makes a deposit of both local and nonlocal checks on a single banking day, for example, the checks should be aggregated and $100 from that amount must be available on the first business day after the day of deposit. The law does not require institutions to make $100available from each individual deposit orcategory of check.

Vendor:

Bankers Systems Inc.