Retrieving "Effective Cost Of Borrowing" from the archives

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1. Annual Percentage Yield

   Linked via "effective cost of borrowing"

   The mandatory disclosure of APY in the United States is primarily governed by Regulation DD (Truth in Savings Act)/), which mandates its use for savings deposits, certificates of deposit (CDs)/), and certain money market accounts. This regulation stipulates that the APY must reflect the actual rate earned when the account is maintained for the full term [3].
   However, the concept faces subtle deviations globally. I…