Reg CC holds always kind of confuse me. I need some assisstance super quick on an exception hold to make sure we are doing it correctly. We got a new account opened with an initial deposit with a cashiers check of $14,108 on 5/18/11. We are delaying the entire amount of $14,108 due to the new account hold exception, however, $5,000 will be made available within the 2 day perios on 5/19/11 and the remaining $9,108 will be made available on the 7th business day, 5/25. Do I have my dates correct? We are open on Saturdays. Please help!

The $5,000 has to be made available the next business day (5/19) as you state; however, you can hold the $9,108 until the 9th business day if that's what's in your funds availability policy (the longest you can hold the excess over $5,000 for a new account), which would be June 1, 2011. Business days are defined by Reg CC as any day other than a Saturday/Sunday (and last day in May, plus a few other holidays), so that fact that you are open on Saturdays doesn't enter into the calculation.

Thanks Doug. Our policy allows for only 7 business day holds as the max, so the remaining $9,108 woul be available on 5/27, right?

That's correct. You need to follow the limit in your policy so it should be availble on 5/27.

Thank you! Clears some things up for me.

John Burnett, one of the gurus on this board, is holding a webinar today on the Fed's proposed overhaul of Reg CC. It may not be too late to register, or at least get the archived webinar and CD-ROM when available. He and his colleagues have a way of making the difficult easy.

Thanks, Doug. In the interest of transparency, the webinar today is about the Fed's proposal to amend Reg CC, and, of course, the $100 to $200 next-day amount rule change. I won't be spending a lot of time with the current regulation (unless a question on it comes up).