## 30 360(ISDA)

Subtype of NameISDA convention

Also known as

**or**

*30E/360 ISDA, 30/360 ISDA*

*30/360 German*Let

**be the period between two dates**

*[T₁,T₂)***and**

*T₁***, of which the length**

*T₂***in annual units must be calculated**

*L*Calculation rule:

Let

**be the effective number of days of the period**

*N***, formally defined as the difference:**

*[T₁,T₂)***, with the effective starting date**

*T'₂ - T'₁***and ending date**

*T'₁***differing from**

*T'₂***and**

*T₁***in the following occations:**

*T₂*Starting or ending dates on the 31st of the month become equal to 30.

If

**(respectively**

*T₁***) occurs on the**

*T₂***of a month, then**

*31ˢᵗ***(respectively**

*T'₁***) becomes equal to the**

*T'₂***of the same month.**

*30ᵗʰ*If

**(respectively**

*T₁***) occurs on the last day of February, then**

*T₂***(respectively**

*T'₁***) becomes equal to**

*T'₂***, except for the termination date.**

*30*Then

*L = N/360*