ACT/365

A day count convention which calculates actual days over the actual number of days in a year.

In a normal year, this will be 365 days.

In a leap year it is 366 days.

This convention is also known as ACT/ACT, because the denominator is the actual number of days in the year.

This convention is also sometimes known as ACT/365 actual, or ACT/365 A.

Not to be confused with ACT/365 fixed.

See also

• CertFMM
• Denominator
• Interest
• ACT/360
• ACT/365 fixed
• Day count conventions
• Conventional year