Certified Regulatory Compliance Manager (CRCM) — Question 166

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

Answer options

• 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

Correct answer: A, B, C

Explanation

The correct answer is A because it specifically states the requirement for the next clock hour after receipt by the paying bank. Option B specifies a strict time but does not capture all scenarios, while C allows for variability based on circulars, making it less definitive. Therefore, while D suggests both A and B are correct, it does not include the broader context provided by C.