Source: https://www.law.cornell.edu/cfr/text/12/part-226/appendix-J?qt-cfr_tabs=0
Timestamp: 2015-09-03 08:15:21
Document Index: 626657503

Matched Legal Cases: ['art 226', 'art 226', 'art 226', 'art 226', 'art 226', 'art 226']

12 CFR Part 226, Appendix J to Part 226 - Annual Percentage Rate Computations for Closed-End Credit Transactions | US Law | LII / Legal Information Institute
CFR › Title 12 › Chapter II › Subchapter A › Part 226 › Appendix J 12 CFR Part 226, Appendix J to Part 226 - Annual Percentage Rate Computations for Closed-End Credit Transactions
View PDF at GPOPt. 226, App. J
Appendix J to Part 226—Annual Percentage Rate Computations for Closed-End Credit Transactions
(ii) In a single advance, single payment transaction, the unit-period shall be the term of the transaction, but shall not exceed 1 year.
(i) The number of days between 2 dates shall be the number of 24-hour intervals between any point in time on the first date to the same point in time on the second date.
(iv) If the unit-period is a day, a week, or a multiple of a week, the number of full unit-periods and the remaining fractions of a unit-period shall be determined by dividing the number of days between the 2 given dates by the number of days per unit-period. If the unit-period is a day, the number of unit-periods per year shall be 365. If the unit-period is a week or a multiple of a week, the number of unit-periods per year shall be 52 divided by the number of weeks per unit-period.
[Reg. Z, 46 FR 20892, Apr. 7, 1981, as amended at 46 FR 29246, June 1, 1981]