Method of interest rate calculation in which interest rates are calculated to the nearest day, with the year being assumed to be 360 days for the purpose of determining the interest rate divisor. – This interest calculation method is generally used in the ECB’s monetary policy operations. – See Actual/Actual, Effective interest rate, Complementary day, Interest day counting.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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