# Truth in Savings
> **US Federal Reserve System** · Final rule. · Published 1998-07-30 · 63 FR 40635
## Document
- **Document number:** 98-20268
- **Category:** final-rule
- **Agency:** US Federal Reserve System
- **Federal Register citation:** 63 FR 40635
- **CFR reference:** 12 CFR 230
- **Publication date:** 1998-07-30
- **Docket:** Regulation DD
## Abstract

The Board has adopted a rule amending Regulation DD (Truth in Savings); the action makes final an interim rule adopted in January 1995. The amendment permits institutions to disclose an annual percentage yield (APY) equal to the contract interest rate for time accounts with maturities greater than one year that do not compound but that require interest distributions at least annually.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1998/07/30/98-20268/truth-in-savings)
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