- 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 functionTBILLEQ
.
See also
General equations for discounted securities.