(a) General rule. If a depository institution mails or delivers
a periodic statement, the statement shall include the following disclosures:
(1) Annual percentage
yield earned. The “annual percentage yield earned” during the
statement period, using that term, calculated according to the rules
in Appendix A of this part.
(2) Amount of
interest. The dollar amount of interest earned during the statement
period.
(3) Fees imposed. Fees required to be disclosed
under section 1030.4(b)(4) of this part that were debited to the account
during the statement period. The fees shall be itemized by type and
dollar amounts. Except as provided in section 1030.11(a)(1) of this
part, when fees of the same type are imposed more than once in a statement
period, a depository institution may itemize each fee separately or
group the fees together and disclose a total dollar amount for all
fees of that type.
(4) Length of period. The total number
of days in the statement period, or the beginning and ending dates
of the period.
(5) Aggregate fee disclosure. If applicable,
the total overdraft and returned item fees required to be disclosed
by section 1030.11(a).
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(b) Special rule for average daily balance method. In making the disclosures described in paragraph (a) of this section,
institutions that use the average daily balance method and that calculate
interest for a period other than the statement period shall calculate
and disclose the annual percentage yield earned and amount of interest
earned based on that period rather than the statement period. The
information in paragraph (a)(4) of this section shall be stated for
that period as well as for the statement period.
