annual percentage yield
Defined in 1 place of the United States Code.
The term “annual percentage yield” means the total amount of interest that would be received on a $100 deposit, based on the annual rate of simple interest and the frequency of compounding for a 365-day period, expressed as a percentage calculated by a method which shall be prescribed by the Board in regulations.
Source
- 1994–201112 U.S.C. § 4313Banks and Banking · Definitions · for the purposes of this chapter
The term “annual percentage yield” means the total amount of interest that would be received on a $100 deposit, based on the annual rate of simple interest and the frequency of compounding for a 365-day period, expressed as a percentage calculated by a method which shall be prescribed by the Bureau in regulations.
Source
- 2011–present12 U.S.C. § 4313Banks and Banking · Definitions · for the purposes of this chapter