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Regulation CC
Availability of Funds and Collection of Checks

12 CFR 229; as amended effective July 1, 2020
NOTE ON REGULATION CC
In the Code of Federal Regulations, the commentary on Regulation CC is set out separately as appendix E. In the version of Regulation CC that follows, each section of the regulation is followed by the commentary on that section. The beginning of each commentary section is clearly labeled “Commentary,” and the running head at the top of each page indicates whether the text on that page is regulation or commentary.
The commentary provides background material to explain the Board’s intent in adopting a particular part of the regulation. It also provides examples to help readers understand how a particular requirement is to work. Under section 611(e) of the Expedited Funds Availability Act (12 U.S.C. 4010(e)), no provision of section 611—
imposing any liability shall apply to any act done or omitted in good faith conformity with any rule, regulation, or interpretation thereof by the Board of Governors of the Federal Reserve System, notwithstanding the fact that after such act or omission has occurred, such rule, regulation, or interpretation is amended, rescinded, or determined by judicial or other authority to be invalid for any reason.
The commentary is an “interpretation” of the regulation by the Board within the meaning of section 611.
Subpart A—General
  • Section
  • Authority and purpose; organization
  • Definitions
  • Administrative enforcement
Subpart B—Availability of Funds and Disclosure of Funds-Availability Policies
  • Section
  • Next-day availability
  • Adjustment of dollar amounts
  • Availability schedule
  • Exceptions
  • Payment of interest
  • General disclosure requirements
  • Specific availability-policy disclosure
  • Initial disclosures
  • Additional disclosure requirements
  • Miscellaneous
  • Relation to state law
  • Civil liability
Subpart C—Collection of Checks
  • Section
  • Electronic checks and electronic information
  • Paying bank’s responsibility for return of checks and notices of nonpayment
  • Returning bank’s responsibility for return of checks
  • Depositary bank’s responsibility for returned checks and notices of nonpayment
  • Warranties and indemnities
  • Indorsements
  • Presentment and issuance of checks
  • Variation by agreement
  • Liability
  • Insolvency of bank
  • Effect of merger transaction
  • Relation to state law
  • Exclusions
  • 229.43
    [Reserved]
Subpart D—Substitute Checks
  • Section
  • General provisions governing substitute checks
  • Substitute-check warranties
  • Substitute-check indemnity
  • Expedited recredit for consumers
  • Expedited recredit for banks
  • Liability
  • Consumer awareness
  • Mode of delivery of information
  • Relation to other law
  • Variation by agreement
AUTHORITY: 12 U.S.C. 4001-4010, 12 U.S.C. 5001-5018.
†
In this publication, the commentary is interwoven with the regulation rather than set out as a separate appendix. The commentary for each section of the regulation immediately follows that section.
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