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#2135951 - 06/27/17 12:31 PM Early CD w/d penalty- business or calendar days?
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 530
Midwest
Under Reg D, we're required to assess a penalty of at least seven days' simple interest on amounts withdrawn within six days after each partial withdrawal or after opening. Is this 6 calendar days, or 6 business days?

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#2135958 - 06/27/17 01:04 PM Re: Early CD w/d penalty- business or calendar days? M&M
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Calendar. As a rule of thumb, when a regulation does not specify "business days," you use calendar days.
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#2136070 - 06/27/17 06:01 PM Re: Early CD w/d penalty- business or calendar days? M&M
M&M Offline
Platinum Poster
Joined: Nov 2003
Posts: 530
Midwest
Thanks John!

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