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Regulation CC § 229.30(c)(1)

Definition

A provision of the federal reserve Expedited Funds Availability Act, also known as Federal Reserve Board Regulation CC, that extends the Uniform Commercial Code § 4-302 midnight-deadline rule if a payor bank uses a means of delivery that would ordinarily result in receipt by the receiving bank by the bank day following the otherwise applicable deadline or if the payor bank uses a highly expeditious means of transportation.

Related Rules [?]