Regulation DD Commentary Stays As-is
Regulation DD Commentary Stays "As-is"
The Federal Reserve Board has withdrawn the proposed revisions to the official staff commentary to Regulation DD (Truth in Savings). Fed proposed amendments to the commentary on Regulation DD to provide guidance on technical matters, such as the effect of a leap year on the calculation of interest, the APY and the APYE, particularly the compounding and crediting policies. They decided it was just plain TOO technical, and killed the whole proposal. If there are specific questions you have about Reg DD, they suggest you can call Fed directly at (202) 452-3667.
Copyright © 1996 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 6, No. 8, 6/96
First published on 06/01/1996