ACT/365 fixed: Difference between revisions
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imported>Doug Williamson (Removed link) |
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== See also == | == See also == | ||
* [[ACT/360]] | * [[ACT/360]] | ||
* [[ACT/365]] | * [[ACT/365]] | ||
* [[Convention]] | |||
* [[Conventional year]] | |||
* [[Day count conventions]] | * [[Day count conventions]] | ||
* [[ | * [[Effective annual rate]] | ||
* [[Interest]] | |||
* [[Money market]] | * [[Money market]] | ||
* [[Nominal annual rate]] | * [[Nominal annual rate]] | ||
* [[Periodic rate]] | * [[Periodic rate]] | ||
Revision as of 12:29, 16 December 2021
A day count convention which calculates actual days in a time period, 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 normal years.
ACT/365 fixed is the convention most often used in the short term GBP market.
