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 hand that signed the paper felled a city;
Five sovereign fingers taxed the breath,
Doubled the globe of dead and halved a country;
These five kings did a king to death.”
—Dylan Thomas (1914–1953)
“Wonder is the foundation of all philosophy; research, the progress; ignorance, the end. There is, by heavens, a strong and generous kind of ignorance that yields nothing, for honour and courage, to knowledge: an ignorance to conceive which needs no less knowledge than to conceive knowledge.”
—Michel de Montaigne (1533–1592)