FEDERAL RESERVE SYSTEM 12 CFR Part 229 Regulation CC; Docket No. [R-1027] Availability of Funds and Collection of Checks. AGENCY: Board of Governors of the Federal Reserve System. ACTION: Final Rule. SUMMARY: The Board of Governors of the Federal Reserve System (the Board) recognizes that banks are currently dedicating their automation resources to addressing Year 2000 and leap year computer problems and may be challenged to make and test other programming changes, including those that may be required to comply with Regulation CC's merger transition provisions, without jeopardizing their Year 2000 or other programming efforts. Therefore, the Board is amending Regulation CC to allow banks that consummate a merger on or after July 1, 1998, and before March 1, 2000, greater time to implement software changes related to the merger. EFFECTIVE DATE: April 1, 1999. FOR FURTHER INFORMATION CONTACT: Jean Anderson, Staff Attorney, Legal Division (202/452-3707). For the hearing impaired only, Telecommunications Device for the Deaf (TDD), Diane Jenkins (202/452-3544).

Summary and proposed rule (14 KB PDF)

1999 Banking and consumer regulatory policy