Commercial Paper Yields
Like Treasury Bills, yields on commercial paper are quoted on a discount basis—the discount return to commercial paper holders is the annualized percentage difference between the price paid for the paper and the par value using a 360-day year. Specifically: icp(dy) = x (360/h)
and when converted to a bond equivalent yield:
icp(bey) = x (365/h)
Read more about this topic: Commercial Paper
Famous quotes containing the words commercial, paper and/or yields:
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
—Benjamin Harrison (1833–1901)
“The fate of the country does not depend on how you vote at the polls,—the worst man is as strong as the best at that game; it does not depend on what kind of paper you drop into the ballot- box once a year, but on what kind of a man you drop from your chamber into the street every morning.”
—Henry David Thoreau (1817–1862)
“Slow work yields fine products.”
—Chinese proverb.