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Zero In Front of Decimal If APY Less Than 1%?

Question: 
If you are quoting an APY and it is less than 1%, is it a requirement that a (zero) be placed in front of the decimal point? Example: 0.50% APY Or is it acceptable to state the APY as .50%?
Answer: 

by Jim Bedsole: I believe either would be acceptable under Reg DD, however, the 0.50% I believe would have less likelihood of being misunderstood.

Answer: 

by John Burnett: I agree, and particularly so in the case of any oral mention of the APY.

First published on 03/24/2014

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