Shirley L. Taylor
Vice President
Swiss Avenue Bank
4217 Swiss Avenue
Dallas, TX 75204

Dear Ms. Taylor:

This is in response to your letter of March 17, requesting clarification on the status of cashier's checks and other official checks that are payable through another institution under the Board's Regulation CC (12 CFR Part 229).

Regulation CC defines "cashier's check" as a check that is (1) drawn on a bank, (2) signed by an officer or employee of the bank on behalf of the bank as drawer, (3) a direct obligation of the bank, and (4) provided to a customer of the bank or acquired from the bank for remittance purposes (12 CFR § 229.2(i)). A check could qualify as a cashier's check for purposes of Regulation CC even if it is payable through an institution other than the bank on which it is drawn, provided it meets the four requirements of the definition. Regulation CC defines "teller's check" as a check provided to a customer of a bank or acquired from a bank for remittance purposes that is drawn by the bank, and drawn on another bank or payable through or at a bank (12 CFR § 229.2(gg)).

The examples you included with your letter appear to be either cashier's checks or teller's checks under the Regulation CC definitions. Under Regulation CC, cashier's checks and teller's checks are treated identically for availability purposes. The availability requirements for cashier's checks and teller's checks are set forth in §§ 229.10, 229.12, and 229.13 of Regulation CC, a copy of which is enclosed.

I hope this information is useful.

Very truly yours,

(signed) Oliver I. Ireland

Oliver Ireland