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:
“A commercial society whose members are essentially ascetic and indifferent in social ritual has to be provided with blueprints and specifications for evoking the right tone for every occasion.”
—Marshall McLuhan (1911–1980)
“It was because of me. Rumors reached Inman that I had made a deal with Bob Dole whereby Dole would fill a paper sack full of doggie poo, set it on fire, put it on Inman’s porch, ring the doorbell, and then we would hide in the bushes and giggle when Inman came to stamp out the fire. I am not proud of this. But this is what we do in journalism.”
—Roger Simon, U.S. syndicated columnist. Quoted in Newsweek, p. 15 (January 31, 1990)
“UG [universal grammar] may be regarded as a characterization of the genetically determined language faculty. One may think of this faculty as a ‘language acquisition device,’ an innate component of the human mind that yields a particular language through interaction with present experience, a device that converts experience into a system of knowledge attained: knowledge of one or another language.”
—Noam Chomsky (b. 1928)