§ 4304. — Disclosure requirements for certain accounts.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4304]
TITLE 12--BANKS AND BANKING
CHAPTER 44--TRUTH IN SAVINGS
Sec. 4304. Disclosure requirements for certain accounts
The Board shall require, in regulations which the Board shall
prescribe, such modification in the disclosure requirements under this
chapter relating to annual percentage yield as may be necessary to carry
out the purposes of this chapter in the case of--
(1) accounts with respect to which determination of annual
percentage yield is based on an annual rate of interest that is
guaranteed for a period of less than 1 year;
(2) variable rate accounts;
(3) accounts which, pursuant to law, do not guarantee payment of
a stated rate;
(4) multiple rate accounts; and
(5) accounts with respect to which determination of annual
percentage yield is based on an annual rate of interest that is
guaranteed for a stated term.
(Pub. L. 102-242, title II, Sec. 265, Dec. 19, 1991, 105 Stat. 2336;
Pub. L. 102-550, title XVI, Sec. 1604(e)(2)(A), Oct. 28, 1992, 106 Stat.
4084.)
Amendments
1992--Pub. L. 102-550 made technical amendment to references to
``this chapter'' wherever appearing to reflect correction of
corresponding provision of original act.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102-550 effective as if included in the Federal
Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102-242,
as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102-550, set out as
a note under section 191 of this title.
