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The important bit: "According to this ruling, if a bank suspends enforcement of the six-transfer limit on a savings deposit, the bank may report that account as
by jnwatson 6y ago
The important bit: "According to this ruling, if a bank suspends enforcement of the six-transfer limit on a savings deposit, the bank may report that account as a “transaction account” on its FR 2900 reports."
This is just a reclassification artifact. Savings accounts were M2 before, M1 now. No news here.
- mywittyname 6y agoYeah, the real world explanation is so boring. It's like reclassifying chicken as being vegetarian then reporting on the growth in the number of vegetarianism.