United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2017_register executive 2017-06-15 article Part II Rules and Regulations D09002ee1c7f173dd D09002ee1c7f174b3 United States Federal Reserve System originator org United States Government Agency or Subagency The Board is amending subparts A, C, and D of Regulation CC, Availability of Funds and Collection of Checks, which implements the Expedited Funds Availability Act of 1987 (EFA Act), the Check Clearing for the 21st Century Act of 2003 (Check 21 Act), and the official staff commentary to the regulation. In the final rule, the Board has modified the current check collection and return requirements to reflect the virtually all-electronic check collection and return environment and to encourage all depositary banks to receive, and paying banks to send, returned checks electronically. The Board has retained, without change, the current same-day settlement rule for paper checks. The Board is also applying Regulation CC's existing check warranties under subpart C to checks that are collected electronically, and in addition, has adopted new warranties and indemnities related to checks collected and returned electronically and to electronically-created items. 82 FR 27552 https://www.govinfo.gov/app/details/FR-2017-06-15/2017-11379 2017-11379 fr15jn17-16 RIN 7100-AD68 6210-01-P Regulation CC Docket No. R-1409 https://www.govinfo.gov/app/details/FR-2017-06-15/2017-11379 https://www.govinfo.gov/content/pkg/FR-2017-06-15/html/2017-11379.htm https://www.govinfo.gov/content/pkg/FR-2017-06-15/pdf/2017-11379.pdf Banks Banking Federal Reserve System Reporting and Recordkeeping Requirements 50 p. 27552 27601 82 FR 27552 Title 12 Part 229 12 CFR Part 229 RIN 7100-AD68 Availability of Funds and Collection of Checks; Federal Register Vol. 82, Issue RULE 2017-11379 II FEDERAL RESERVE SYSTEM 2018-07-01 Regulation CC Docket No. R-1409 6210-01-P 2017-11379 Final rule.

The Board is amending subparts A, C, and D of Regulation CC, Availability of Funds and Collection of Checks, which implements the Expedited Funds Availability Act of 1987 (EFA Act), the Check Clearing for the 21st Century Act of 2003 (Check 21 Act), and the official staff commentary to the regulation. In the final rule, the Board has modified the current check collection and return requirements to reflect the virtually all-electronic check collection and return environment and to encourage all depositary banks to receive, and paying banks to send, returned checks electronically. The Board has retained, without change, the current same-day settlement rule for paper checks. The Board is also applying Regulation CC's existing check warranties under subpart C to checks that are collected electronically, and in addition, has adopted new warranties and indemnities related to checks collected and returned electronically and to electronically-created items.

Effective July 1, 2018. Clinton N. Chen, Attorney (202-452- 3952), Legal Division; or Ian C.B. Spear, Senior Financial Services Analyst (202-452-3959), Division of Reserve Bank Operations and Payment Systems; for users of Telecommunication Devices for the Deaf (TDD) only, contact 202-263-4869; Board of Governors of the Federal Reserve System, 20th and C Streets NW., Washington, DC 20551. Banks Banking Federal Reserve System Reporting and Recordkeeping Requirements Availability of Funds and Collection of Checks , oira_submission@omb.eop.gov https://www.ftc.gov/policy/federal-register-notices/16-cfr-part-310-telemarketing-sales-rule-federal-register-notice https://www.ftc.gov/policy/federal-register-notices/16-cfr-part-310-telemarketing-sales-rule-final-rule-amendments Vol. 82, no. 114 Office of the Federal Register, National Archives and Records Administration 2017-06-15 continuing daily deposited born digital 214 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2017-06-15 P0b002ee19534932e 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr15jn17 https://www.govinfo.gov/app/details/FR-2017-06-15 https://www.govinfo.gov/content/pkg/FR-2017-06-15/pdf/FR-2017-06-15.pdf https://www.govinfo.gov/content/pkg/FR-2017-06-15/xml/FR-2017-06-15.xml fdlp 27403 27609 DGPO 2017-06-15 2024-06-01 FR-2017-06-15 machine generated eng FR FR-2017-06-15 82 114