No adjustment business day convention: Difference between revisions
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{{g}}A [[business day convention]] for no-nonsense, getting straight to the point types. Your interest period finishes on the day it says it will, come hell, high water, weekend, bank holiday or day of religious rest. | {{g}}A [[business day convention]] for no-nonsense, getting straight to the point types. Your interest period finishes on the day it says it will, come hell, high water, weekend, bank holiday or day of religious rest. | ||
Thinks other [[business day convention]]s are neurotic. Correctly so. That said, usually seen mainly for [[Fixed rate|fixed-rate]] instruments, where nothing (such as a reset) really hangs on which day the interest period ends, and even then your interest ''payment'' date will roll forward to the following day, seeing as bankers don’t work on state-sanctioned days of rest. | Thinks other [[business day convention]]s are neurotic. Correctly so. That said, usually seen mainly for [[Fixed rate|fixed-rate]] instruments, where nothing (such as a reset) really hangs on which day the interest period ends, and even then your interest ''payment'' date will roll forward to the following day, seeing as not even evil, secret-society-forming, world-dominating bankers don’t work on state-sanctioned days of rest. | ||
{{sa}} | {{sa}} | ||
*[[Business day convention]] | *[[Business day convention]] | ||
Revision as of 10:57, 31 August 2020
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A business day convention for no-nonsense, getting straight to the point types. Your interest period finishes on the day it says it will, come hell, high water, weekend, bank holiday or day of religious rest.
Thinks other business day conventions are neurotic. Correctly so. That said, usually seen mainly for fixed-rate instruments, where nothing (such as a reset) really hangs on which day the interest period ends, and even then your interest payment date will roll forward to the following day, seeing as not even evil, secret-society-forming, world-dominating bankers don’t work on state-sanctioned days of rest.