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Glossary

30/360 US

Other names: 30U/360, 30US/360, 30/360SIA

Start date: M1/D1/Y1
End date: M2/D2/Y2

Day count = (Y2-Y1)*360+(M2-M1)*30+(D2-D1)

Convention:
• if D1=31 then D1=30
• if D2=31 and D1=31 then D2=30
• if D1 is the last day of February then D1=30
• if D1 is the last day of February and D2 is the last day of February then D2=30
The last day of February is February 29 in leap years and February 28 in non leap years.

The 30/360 US rule is identical to 30/360 ISDA when the EOM (end-of-month) convention does not apply. This indicates whether all coupon payment dates fall on the last day of the month. If the investment is not EOM, it will always pay on the same day of the month (e.g., the 10th).

All methods of calculating the number of days between dates you can find in Bond Calculator Guide.

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