NL 365

Subtype of Name

Actual/365 No leap year.
Let [T₁,T₂) be the period between two dates T₁ and T₂, of which the length L in annual units must be calculated
Calculation rule:
Let N be the effective number of days of the period [T₁,T₂) that must be constructed using the following rule:
If the leap day (29th Feb) does not fall within the accrual period then N = actual number of days within the accrual period, otherwise N = actual number of days within the accrual period -1
Then
L = N/365