Questions and Answers

The Regulation CC safeguard exceptions allow you to delay the availability of deposits beyond the time limits otherwise prescribed in the law.  In order to take advantage of these exceptions, you must include them in your funds availability disclosure statement.

If you invoke a safeguard exception, you must also give your customer or member a timely written notice to that effect (except for the new account exception, notice of which is given at account opening in the initial disclosure).  The notice must include at a minimum the account number of your customer or member, the date of the deposit, the amount of the deposit that is being delayed, the reason the exception is being asserted (including any reason for doubting collectibility), and the time period when the funds will be available for withdrawal.

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