If a reservation is cancelled within 30 days or arrival, the points go into a Holding Account. It has nothing to do with banking deadlines. If you cancel 31 days or more before arrival, the points are returned to the Use Year with no restrictions. They could be banked if they were current points - based on usual rules.
They cannot be banked and will expire at the end of the Use Year. They can be used to make a reservation within 60 days of arrival.