Reg. D IFR 2020 Apr – Q.5. If a depository institution suspends enforcement of the six transfer limit on a "savings deposit," is the depository institution required to change the way that interest on the account is calculated or reported?

Compliance > Regulation D - Reserve Requirements
Q:  If a depository institution suspends enforcement of the six transfer limit on a "savings deposit," is the depository institution required to change the way that interest on the account is calculated or reported?
 
A:  No. The interim final rule does not require a depository institution to change the way it calculates or reports interest on an account where the depository institution has suspended enforcement of the six transfer limit.
 
 
This information can be found in the FRB’s Reg. D Interim Final Rule that was published on April 28, 2020 with a stated effective date of April 24, 2020, here - https://www.federalregister.gov/documents/2020/04/28/2020-09044/regulation-d-reserve-requirements-of-depository-institutions
 

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