 # TBILLEQ: add formula, needs better description

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#### Details

• Type: Sub-task
• Status: Closed
• Priority: Major
• Resolution: Fixed
• Affects Version/s: None
• Fix Version/s:
• Component/s:
• Labels:
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• Proposal:
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TBILLEQ is calculated as
TBILLEQ = (365 * rate) / (360 - (rate * DSM))
where DSM is the number of days between settlement and maturity computed according to the 360 days per year basis.

If no one comes up with a clarification for "bond-equivalent yield for a treasury bill", leave it as is.

Show
Add to Semantics: TBILLEQ is calculated as TBILLEQ = (365 * rate) / (360 - (rate * DSM)) where DSM is the number of days between settlement and maturity computed according to the 360 days per year basis. If no one comes up with a clarification for "bond-equivalent yield for a treasury bill", leave it as is.
• Resolution:
Hide

TBILLEQ is calculated as
TBILLEQ = (365 * rate) / (360 - (rate * DSM))
where DSM is the number of days between settlement and maturity computed according to the 360 days per year basis (basis 2, 3.10.6).

Show
Added to Semantics: TBILLEQ is calculated as TBILLEQ = (365 * rate) / (360 - (rate * DSM)) where DSM is the number of days between settlement and maturity computed according to the 360 days per year basis (basis 2, 3.10.6).

#### Description

Broken out from OFFICE-916

TBILLEQ

• Excel gives the formula:
"TBILLEQ is calculated as TBILLEQ = (365 x rate)/360-(rate x DSM), where DSM
is the number of days between settlement and maturity computed according to
the 360 days per year basis."
That's wrong - should be (365 x rate)/[360-(rate x DSM)]. Also: using the
360 day year is vital information which needs to be included.

• "bond-equivalent yield for a treasury bill" is probably lifted from Excel's
Help, and comes across as jargon; needs more explanation, especially for
non-US people.

[ed:] TODO: any native English speaker knowledgeable in that domain?

#### People

• Assignee: Eike Rathke (Inactive)
Reporter: Eike Rathke (Inactive)
• Watchers:
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#### Dates

• Created:
Updated:
Resolved: