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Reg CC Holds-Cashier's Check/Large Deposit

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Question: 
I need a clear & simple chart to help me understand Reg CC holds. I understand rules are changing in July, but I need something to help me today. Specifically, I have a customer depositing a cashier's check from himself at another bank payable to himself here in the amount of $106,000. How do I handle this? Example: 2-12-2020: Place a Large Deposit Exception hold on the check making $200 available 2-13-2020, $4,800 available 2-14-2020 & $101,000 available 2-24-2020 or because it's a cashier's check do I make the entire amount available on the next business day?
Answer: 

There is really nothing "clear and simple" about Regulation CC holds. It's a complex topic, since the rules vary depending on the type of check (next-day checks v. all others; large check deposits; on-us checks; U.S. Treasury checks, redeposited checks, etc.), aspects of your depositor's account history (recurring overdraft holds) and your banks' own policies.

There is a helpful chart in BankersOnline's Tools that explains how you can handle various types of checks if your bank maximizes the delays in availability to those permitted in the regulation (using current dollar amounts). Here's a link:
https://www.bankersonline.com/sites/default/files/tools/Reg%20CC%20-%20S...

You'll see "Member" used in the chart in place of "Customer" because the chart was developed for a credit union.

First published on 04/26/2020

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