## 30 360

Subtype of NameUS convention

Also known as

**or**

*30/360*

*360/360*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*If

**is the**

*T₁***of a month or the last day of February, then**

*31ˢᵗ***becomes equal to the**

*T'₁***of the same month.**

*30ᵗʰ*If

**is the**

*T₂***of a month and**

*31ˢᵗ***is the**

*T₁***or**

*30ᵗʰ***of a month, then**

*31ˢᵗ***becomes equal to the**

*T'₂***.**

*30ᵗʰ*If

**is the last of February and**

*T₂***is also the last of February, then**

*T₁***is set to**

*T'₂***.**

*30*Then

*L = N/360*