Module: | Continuous Clearing (CCSR) & Penalties
Q25: Scenario: A corporate customer presents a high-value cheque at 3:55 PM on a Wednesday. The Presenting Bank uploads the image at 3:58 PM (just before the 4:00 PM cutoff). The Drawee Bank receives the image at 4:05 PM. When does the "T+3" processing window expire, and when will the funds settle?
✅ Correct Answer: C
This requires precise calculation.
Receipt Time: 4:05 PM.
Timer: T+3 Hours = 7:05 PM.
Settlement Cutoff: The final settlement batch for the day is usually 7:00 PM.
The Miss: Since the "Deemed Approval" or "Positive Confirmation" deadline (7:05 PM) falls after the final settlement batch generation (7:00 PM), this transaction cannot be settled in the Day 1 cycle.
Result: It will roll over to the next available batch, which is the 11:00 AM batch on Thursday (Day 2).
Receipt Time: 4:05 PM.
Timer: T+3 Hours = 7:05 PM.
Settlement Cutoff: The final settlement batch for the day is usually 7:00 PM.
The Miss: Since the "Deemed Approval" or "Positive Confirmation" deadline (7:05 PM) falls after the final settlement batch generation (7:00 PM), this transaction cannot be settled in the Day 1 cycle.
Result: It will roll over to the next available batch, which is the 11:00 AM batch on Thursday (Day 2).