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CRCM Exam - Question 171


Cash items' payment proceeds must be available to the Reserve Bank by the latest of:

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Correct Answer: ABC

Cash items' payment proceeds must be available to the Reserve Bank by the latest of the next clock hour that is after the hour the paying bank receives the item, by 9:30 A.M. Eastern time, or such other time as provided in the Reserve Bank's operating circulars. This means that in specific situations, the exact timing can be dictated by the Reserve Bank's operating circulars. Therefore, all these conditions must be considered to determine the latest time by which the proceeds must be available.

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Cam22Option: C
Mar 16, 2024

which answer is correct: Cash items' payment proceeds must be available to the Reserve Bank by the latest of: A. The next clock hour that is after the hour the paying bank receives the item B. 9:30 A.M. Eastern time C. Such other time as provided in the Reserve Bank's operating circulars D. Both A and B

Dex24
May 21, 2024

C, page 616.