How do I check (and edit) the e-mail message that is sent to new registrants?

Lately it seems that new registrants expect that their accounts are approved as soon as they click the e-mail verification link. I would like to find and edit the associated text to make it very clear that when they verify their e-mail their application gets put in a queue that may take up to 24 hours before approval.

I have searched here (not sure what to search on for this one!) and have gone through all the admin screens and can't find anything.

I will apologize in advance if it is a link in the CP that is staring me in the face that I just can't see! grin