ACT/365 fixed: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Create the page. Source: Day count conventions page.) |
imported>Doug Williamson (Link with Money market page.) |
||
| Line 7: | Line 7: | ||
This applies in leap years as well as in normal years. | This applies in leap years as well as in normal years. | ||
ACT/365 fixed is the convention most often used in the short term GBP market. | |||
| Line 16: | Line 19: | ||
* [[Day count conventions]] | * [[Day count conventions]] | ||
* [[Conventional year]] | * [[Conventional year]] | ||
* [[Money market]] | |||
Revision as of 14:26, 26 November 2015
A day count convention which calculates actual days over a 365-day conventional year, regardless of the number of days in the year.
In other words, the fraction used for interest calculations is always:
Actual days / 365
This applies in leap years as well as in normal years.
ACT/365 fixed is the convention most often used in the short term GBP market.
