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Reg CC: What time of day does a hold expire?

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Question: 
<a href="http://www.bankersonline.com/regs/229/22912.html">12CFR229.12</a> refers to the availability of funds hold. It does not specify the time of day that the hold expires. We have found conflicting answers so I need a citable source.
Answer: 

Take a look at Section 229.19(b). It requires that in general, if the availability schedule requires that funds be made available on a particular business day, they must be available for withdrawal by the later of 9:00 a.m. local time or the time your tellers (including ATMs) are available for customer withdrawals.

The exception would be the Section 229.12(d) provision that allows you to delay by one more business day access to cash withdrawals, if you make an additional $400 available for withdrawal by 5:00 p.m. on the day that funds are otherwise available.

First published on BankersOnline.com 5/20/02

First published on 05/20/2002

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