N.Y. Comp. Codes R. & Regs. tit. 3 § 2.1
Current through Register Vol. 46, No. 53, December 31, 2024
Advertisements may refer to an effective annual yield on any savings account, time deposit, certificate of deposit, or other time balance, which is achieved by compounding interest during one year together with a reference to the basis of compounding, but the annual rate of simple interest on such time balance which does not include the effect of compounding shall also be stated with at least equal prominence.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 2.1