What must be included in an exception delay notice?

Compliance > Regulation CC - EFAA
Q:  What must be included in an exception delay notice?

A:  When a depositary bank extends the time when funds will be available for withdrawal based on the application of an exception, it must provide the depositor with a written notice that includes the following:
  • A number or code, which need not exceed four digits, that identifies the customer's account;
  • The date of the deposit;
  • The amount of the deposit that is being delayed;
  • The reason the exception was invoked; and
  • The time period within which the funds will be available for withdrawal. 
 

This can be found in 12 CFR 229.13 here:  http://www.ecfr.gov/cgi-bin/text-idx?tpl=/ecfrbrowse/Title12/12cfr229_main_02.tpl

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