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.