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