How many decimal places should the A.P.Y. percentage be disclosed to?
Regulation DD clearly states that the A.P.Y. should be disclosed to two decimal places in all cases except for account disclosures, where more decimal places can be shown if desired. Refer to Section 230.3: General Disclosure Requirements, paragraph (f). The “Fed” has made it clear that it does not want more than two decimal places used except for account disclosures. The Truth-in-Savings Compliance Tool will make calculations to two or four places — see the Setup Routine Section in the User’s Guide to change the precision.
Appendix A of Part 707 clearly states that the A.P.Y. should be disclosed to two decimal places in all cases except for account disclosures, where more decimal places can be shown if desired. Refer to Section 230.3: General Disclosure Requirements, paragraph (f). The “Fed” has made it clear that it does not want more than two decimal places used except for account disclosures. The Truth-in-Savings Compliance Tool will make calculations to two or four places — see the Setup Routine Section in the User’s Guide to change the precision.
