Template:2021 ISDA Interest Rate Derivatives Definitions Modified Following Business Day Convention: Difference between revisions

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(Created page with "“'''{{{{{1}}}|Modified Following Business Day Convention}}'''” or “'''{{{{{1}}}|Modified Following}}'''”, when used in conjunction with a date, means that, if that date would otherwise fall on a day that is not a {{{{{1}}}|Business Day}}, subject to Section {{{{{1}}}|2.3.6}} (''{{{{{1}}}|Consequences of an Unscheduled Holiday}}''), it will instead fall on the first following day that is a {{{{{1}}}|Business Day}} unless this would be in the next calendar month, i...")
 
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“'''{{{{{1}}}|Modified Following Business Day Convention}}'''” or “'''{{{{{1}}}|Modified Following}}'''”, when used in conjunction with a date, means that, if that date would otherwise fall on a day that is not a {{{{{1}}}|Business Day}}, subject to Section {{{{{1}}}|2.3.6}} (''{{{{{1}}}|Consequences of an Unscheduled Holiday}}''), it will instead fall on the first following day that is a {{{{{1}}}|Business Day}} unless this would be in the next calendar month, in which case the date will fall on the first preceding day that is a {{{{{1}}}|Business Day}}.
“'''{{isdadefsprov|Modified Following Business Day Convention}}'''” or “'''{{isdadefsprov|Modified Following}}'''”, when used in conjunction with a date, means that, if that date would otherwise fall on a day that is not a {{isdadefsprov|Business Day}}, subject to Section {{isdadefsprov|2.3.6}} (''{{isdadefsprov|Consequences of an Unscheduled Holiday}}''), it will instead fall on the first following day that is a {{isdadefsprov|Business Day}} unless this would be in the next calendar month, in which case the date will fall on the first preceding day that is a {{isdadefsprov|Business Day}}.

Latest revision as of 14:13, 27 March 2024

“Modified Following Business Day Convention” or “Modified Following”, when used in conjunction with a date, means that, if that date would otherwise fall on a day that is not a Business Day, subject to Section 2.3.6 (Consequences of an Unscheduled Holiday), it will instead fall on the first following day that is a Business Day unless this would be in the next calendar month, in which case the date will fall on the first preceding day that is a Business Day.

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