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Template:Business day conventions: Difference between revisions
→Business day conventions for your reading pleasure
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===[[Business day convention]]s for your reading pleasure=== | ===[[Business day convention]]s for your reading pleasure=== | ||
How one adjusts the [[calculation period]] for a given interest [[coupon]] to account for the fact that it ends on a non-working day, and that therefore the interest payment can’t be made on schedule. | |||
*'''[[No adjustment business day convention]]''': The keep calm and carry on option: non-workdays of any kind are effectively ignored. Cashflows falling on non-workdays are assumed to be distributed on the actual date. | *'''[[No adjustment business day convention]]''': The keep calm and carry on option: non-workdays of any kind are effectively ignored. Cashflows falling on non-workdays are assumed to be distributed on the actual date. | ||
*'''[[Previous business day convention]]''': Back to the day before: Cashflows falling on non-workdays are assumed to be distributed on the '''[[previous]]''' [[business day]]. | *'''[[Previous business day convention]]''': Back to the day before: Cashflows falling on non-workdays are assumed to be distributed on the '''[[previous]]''' [[business day]]. | ||