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This might be Regulation DD, set by the Federal Reserve if you're in the US, or something similar if you're elsewhere: https://www.federalreserve.gov/boarddocs/

This might be Regulation DD, set by the Federal Reserve if you're in the US, or something similar if you're elsewhere: https://www.federalreserve.gov/boarddocs/caletters/2009/0914/09-14-attachment.pdf https://www.federalreserve.gov/boarddocs/caletters/2009/0914... > It must round the annual percentage yield, the annual percentage yield earned, and the interest rate to the nearest one-hundredth of one percentage point (.01%) and express them to two decimal places. (p.17) Personally, I don't see what the problem would be with 0.10%, doesn't seem misleading in the slightest. I also love how the regulation is called "Truth in Savings", like how could anybody be against it?

danpalmer 5y ago
The bank is in the UK. I don't know if there's any legislation around this communication, but it doesn't seem that great even if it's legal.
- throw_away 5y ago
  You're worried about unfair competition with banks advertising "0.1%" or "0.2%", but with a must rule like this, there wouldn't be any of those competitors. Anyone with the same rate would advertise "0.10%", and anyone who wanted to beat would say "0.20%" (or more likely, "0.11%").
- noir_lord 5y ago
  Probably - iirc FSA regulate that stuff and can be quite pernickety about what they'll allow.