Answer:
For mandatory next business day items as described in Sec. 229.10(c)(1) (i) through (v) and Sec. 229.10(c)(2) of Reg CC you are required to make the first $5,000 available the next business day. In your example the Cashier's or Teller's check is below this threshold so you could not apply a new account hold assuming the deposit was made in person to an account of the payee.
First published on BankersOnline.com 3/5/12