Reg CC implements the Expedited Funds Availability Act of 1987  EFAA - governing the availability of funds deposited in checking accounts and the collection and return of checks

Regulation also implements the Check Clearing for the 21st Century Act which provides for "Substitute Checks"

Expedited Funds Availability Act - EFAA

Check Clearing for the 21st Century Act

Compliance With Regulation CC: A Guide for Financial Institutions

Regulation CC Compliance Guide for Small Entities

The EFAA requires banks to:

• Make funds deposited in transaction accounts available to their customers within specified time frames
• Pay interest on interest-bearing transaction accounts not later than the day the bank receives credit
• Disclose their funds-availability policies to their customers

There are no currently proposed amendments to Reg CC

The majority of the recent amendments to Reg CC deal with the Board's restructuring of check processing guidelines in the various Federal Reserve districts.  They are all reflected in the Appendices to the current regulations set forth below

Reg CC amendments governing remotely created checks  eff 7.01.06

Amendments to Appendix A reflecting the restructuring of the FR check processing operations in the ninth and tenth districts

Reg CC amendment to implement the Check Clearing for the 21st Century Act  eff 10.28.04

12 CFR §229 - Reg CC - Availability of funds and
                          collection of checks