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:
“It is only by not paying one’s bills that one can hope to live in the memory of the commercial classes.”
—Oscar Wilde (1854–1900)
“The drama critic on your paper said my chablis-tinted hair was like a soft halo over wide set, inviting eyes, and my mouth, my mouth was a lush tunnel through which golden notes came.”
—Samuel Fuller (b. 1911)
“All the world over, the picturesque yields to the pocketesque.”
—Herman Melville (1819–1891)