ACT/360: Difference between revisions
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imported>Doug Williamson (Removed link) |
imported>Doug Williamson (Add examples and Health Warnings. Source: UK Money Markets Code: http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf) |
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A day count convention which calculates actual days in a time period, over a 360-day conventional year. | A day count convention which calculates actual days in a time period, over a 360-day conventional year. | ||
The day count convention should always be checked and confirmed expressly if appropriate before transacting. | |||
Major currencies which usually use an ACT/360 day count convention include: | |||
USD, EUR, JPY, CHF, DKK, NOK, SEK and CNY. | |||
Particular care must be taken where the day count convention differs between domestic markets and non-domestic markets. | |||
The following major currencies usually use an ACT/360 day count convention for non-domestic transactions: | |||
AUD, CAD, NZD. | |||
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* [[Day count conventions]] | * [[Day count conventions]] | ||
* [[Conventional year]] | * [[Conventional year]] | ||
[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code] | |||
Revision as of 13:59, 25 June 2017
A day count convention which calculates actual days in a time period, over a 360-day conventional year.
The day count convention should always be checked and confirmed expressly if appropriate before transacting.
Major currencies which usually use an ACT/360 day count convention include:
USD, EUR, JPY, CHF, DKK, NOK, SEK and CNY.
Particular care must be taken where the day count convention differs between domestic markets and non-domestic markets.
The following major currencies usually use an ACT/360 day count convention for non-domestic transactions:
AUD, CAD, NZD.
