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:
“From a commercial point of view, if Christmas did not exist it would be necessary to invent it.”
—Katharine Whitehorn (b. 1926)
“What is to be done with people who can’t read a Sunday paper without messing it all up?... Show me a Sunday paper which has been left in a condition fit only for kite flying, and I will show you an antisocial and dangerous character who has left it that way.”
—Robert Benchley (1889–1945)
“In civilization, as in a southern latitude, man degenerates at length, and yields to the incursion of more northern tribes.”
—Henry David Thoreau (1817–1862)