actual/360

What is actual/360?

actual/360 definition and meaning on Finance terms:
The day-count convention applied for the calculation of interest on a credit, implying that the interest is calculated over the actual number of calendar days over which the credit is extended, on the basis of a 360-day year. This day-count convention is applied in Eurosystem monetary policy operations. See also
day-count convention<

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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