Function TreasuryBillBondEquivalent(SettlementDate, MaturityDate, DiscountRate)

TreasuryBillBondEquivalent

The function TreasuryBillBondEquivalent returns the bond equivalent yield of a treasury bill. A Treasury bill is a discounted security with less than one year from settlement until maturity, the number of days in one year is fixed at 360 and redemption is fixed at 100.

TreasuryBillBondEquivalent(
    SettlementDate,           ! (input) scalar string expression
    MaturityDate,             ! (input) scalar string expression
    DiscountRate              ! (input) numerical expression
    )

Arguments

SettlementDate

The date of settlement of the security. SettlementDate must be given in a date format.

MaturityDate

The date of maturity of the security. MaturityDate must also be in date format and must be a date after SettlementDate.

DiscountRate

The discount rate of the security as a percentage of the redemption. DiscountRate must be a positive real number.

Return Value

The function TreasuryBillBondEquivalent returns the bond equivalent yield of a Treasury bill.

Note

  • This function can be used in an objective function or constraint and the input parameter DiscountRate can be used as a variable.

  • The function TreasuryBillBondEquivalent is similar to the Excel function TBILLEQ.

See also

General equations for discounted securities.