Regulation of Savings Accounts

Regulation of Savings Accounts - Regulation This section's...

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Unformatted text preview: Regulation This section's factual accuracy is disputed. Please help to ensure that disputed facts are reliably sourced. See the relevant discussion on the talk page. (May 2010) In the United States, under Regulation D, 12 Code of Federal Regulations(CFR) 204.2(d)(2), the term "savings deposit" includes a deposit or an account that meets the requirements of Sec. 204.2(d)(1) and from under the terms of the deposit contract or by practice of the depository institution, the depositor is permitted or authorized to make up to six transfers or withdrawals per month or statement cycle of at least four weeks. The depository institution may authorize up to three of these six transfers to be made by check, draft, debit card, or similar order drawn by the depositor and payable to third parties. There is no regulation limiting number of deposits, but some banks choose themselves to limit deposits. Within most European countries[clarification needed], interest paid on deposit accounts is taxed at source. The high Within most European countries[clarification needed], interest paid on deposit accounts is taxed at source....
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This note was uploaded on 02/29/2012 for the course ECON 4223 taught by Professor Johnp.willen during the Spring '12 term at UCLA.

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