Periodic Statement [Banks & Banking] Law and Legal Definition

According to 12 CFR 230.2 [Title 12 -- Banks and Banking; Chapter II -- Federal Reserve System; Subchapter A -- Board of Governors of the Federal Reserve System; Part 230 -- Truth in Savings (Regulation DD)], periodic statement means “a statement setting forth information about an account (other than a time account or passbook savings account) that is provided to a consumer on a regular basis four or more times a year.”