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#2280640 - 02/03/23 07:52 PM Reg DD
Community Banker Offline
100 Club
Joined: Nov 2008
Posts: 129
We are having lots of discussion here about the tolerance that is allowed within Reg DD. Somewhere in my previous life, I've been told the tolerance should not be used as a "standard practice" in other words don't quote 5.00%APY when you know it should be 4.99%. The tolerance is to be recognized in the event of an error. But of course I can't find this anywhere. Has anyone else been trained this way, and if so do you know where I could find it? Many thanks

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General Discussion
#2280641 - 02/03/23 08:07 PM Re: Reg DD Community Banker
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
1030.3

(f)(2) Accuracy.

1. Annual percentage yield and annual percentage yield earned. The tolerance for annual percentage yield and annual percentage yield earned calculations is designed to accommodate inadvertent errors. Institutions may not purposely incorporate the tolerance into their calculation of yields.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2280642 - 02/03/23 08:08 PM Re: Reg DD Community Banker
Community Banker Offline
100 Club
Joined: Nov 2008
Posts: 129
Thank you so much!!

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