Yes. The rule says you have to control activity so that restricted transfers or withdrawals from the savings account don't exceed six in (a) a calendar month, or (b) a statement cycle or similar period of at least four weeks.
If you cycle accounts on a mid-month to mid-month basis, you clearly can use the statement cycle and it will be at least four weeks long.
If you cycle on longer than a monthly basis, as for a quarterly savings account, you can use the longer statement period, but you'd be restricting your customers unnecessarily to 6 limited transactions per quarter. Instead, you should be cutting that three-month period into three parts and monitoring on a basis of a basis of more-or-less 4-week periods (from the 20th of one month to the 20th of the next, as an example).
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8