Answer:
It is not a Regulation DD issue. When or how you pay interest is a matter of your depositor's/CD agreement.
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Question:
I am new to the compliance function so I apologize if this does not make sense. My question addresses Reg DD and a CD interest payment date vs. maturity date.
Here is an example: a CD term is 6 months and interest is paid every 30 days.
Since there are more/less than 30 days in some months the interest payment date does coincide with the maturity date, so there are generally a few days between these dates. I am unable to find anything in the TISA reg about this. How and when is interest paid in relation to the maturity of the CD?
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