DayCountDisc | ||||||||
Data Type: Float (Optional) | ||||||||
Either a Float number (ie not an integer), or the variable can be omitted. If the value is a string, the function will attempt to convert it to a number, using the part of the string from the start to the first non-numeric character (ie not one of 0123456789+-*/^). | ||||||||
This "...disc" type of DayCount, DayCountDisc, is used in PV calculations for determining the length of time between the cashflow date and the NPV date prior to discounting. For more about how Periods and DayCount work together to determine the length in time between two dates, see Using Daycount. Note that it does NOT affect the discounting method, per se, which is done using the conventional 1/(1+t)^r formulation, and it does NOT describe payment timing. theCommon values of this variable might be: | ||||||||
Example: 1 | ||||||||
Variable Values | ||||||||
Default(s) | ||||||||
5 | Decimal Year (ACTM/12): ActualMonths / 12 | |||||||
Switches | ||||||||
0 | 30/360 BMA (Bond Market Association, formerly the PSA) | |||||||
1 | ACT/ACT (365 or 366) | |||||||
2 | ACT/360: ActualDaysInPeriod / 360 | |||||||
3 | ACT/365: ActualDaysInPeriod / 365 | |||||||
4 | 30E/360: Also known as European 30/360. Standard bond literature definition. | |||||||
5 | Decimal Year (ACTM/12): ActualMonths / 12 | |||||||
6 | ACT/ACT (in period) | |||||||
7 | 30/360 BMA (Bond Market Association, formerly the PSA) | |||||||
8 | ACT (Non Leap)/365: Same as ACT/365 but ignoring Feb 29 | |||||||
9 | 30/365: Standard bond literature definition (same as 30/360 but with 365 denominator) | |||||||
10 | 30/360 ISDA | |||||||
11 | 30/360 ISDA + Feb Adj | |||||||
12 | ISDA + Feb EOM Adj | |||||||
13 | Brazilian ACTBD/252 |