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)
“There’s a long story, my friend. I never did like the idea of sitting on newspapers. I did it once and all the headlines came off on my white pants. On the level, it actually happened. Nobody bought a paper that day. They just followed me around over town and read the news off the seat of my pants.”
—Robert Riskin (1897–1955)
“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)