It's after your banking deadline, but not so far after that it matters!
Here's what I mean. When you cancel a reservation, there are two reasons you might not be able to bank points from the reservation's Use Year. One: you are past the banking deadline. Two: you cancelled at 30 days or leass, and the points went into holding.
So, it doesn't matter what your Use Year, is, if you cancel a December reservation in December, you cannot bank the points. Instead, you would have to bank them in November, a full month prior to check-in. And, that is still within your banking window!
TL;DR: Any reservation in the first nine months of a Use Year can be cancelled and current UY-points banked, provided the points do not go into holding.
It took me a while to wrap my head around this, but once I did, it was really helpful. I have a February UY, and that means October reservations are still in my "can cancel and bank if I have to" window.