I have read the advertising section of Regulation DD and wanted to get some clarification. When advertising a fixed rate CD APR APY on a billboard (traditional CD) I am thinking you have to list:

1. Spell out Annual Percentage Yield
2. Term of CD
3. The Annual Percentage Yield of the CD
4. Member FDIC

I crossed off what didn't apply to billboards and also saw that "minimum balance required to obtain the APY disclosed" hadn't been crossed off my list. We require $1000 minimum opening deposit but this isn't required to be listed on the billboard so I'm assuming the 4 points above are it??

You need

• (c)(3) - Minimum balance to obtain the advertised APY.
• (c)(6)(i)- term of the account
• (c)(6)(iii)-required minimum payout -- not applicable to your case
• Annual percentage yield has to be spelled out, as if anyone can read it on a billboard.
• Member FDIC

I don't know where you got the impression that the min bal to obtain the APY isn't required. It's not one of the things you can skip.

Of course that all supposes that you're mentioning the APY in the ad.

It's been a long day. I noticed in my initial question I stated we were listing a CD APR and not APY. Can you tell that I have been bogged down with loan items and haven't visited the deposit side for a while??

For these you have to have a $1,000 to open (which isn't required to be listed) but if they withdrew $500 (for example) we would still pay the same on the remaining $500. There really isn't a minimum balance to obtain the APY. Just a $1,000 to open the account. That was my reasoning which may be flawed.

A billboard to advertise CD's? Really? In this rate environment. Betcha they will be beating down the door for that .10% APY

I am continually amazed by marketing people.

It's a long story but I don't disagree with you, Randy.