I have a client who has transferred a large asset from one US bank to another. He is waiting for the asset to be made liquid and available to him. He is telling me the time frame to do that is five to ten business days under US banking regulations. Is this true?
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Transfer times depend on the nature of the asset being transferred and the mode of transfer. If the transfer is being effected by a checkdeposited to a checking account in the receiving bank, and the banks are in separate regions of the country, it's possible that the receiving (depositary) bank would place a five to eleven business-day delay on all or part of the client's access to the deposit. If the asset is in some other form, some delay in access would not be unusual.
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Transfer times depend on the nature of the asset being transferred and the mode of 