SWAP INTEREST ACCRUAL CALCULATION INCORRECT NO. OF DAYS: DAY COUNT BASIS 30/360 (Doc ID 472000.1)

Last updated on MARCH 08, 2017

Applies to:

Oracle Treasury - Version: 11.5.10
Information in this document applies to any platform.

Goal

Create Swap transaction using 30/360 day count basis. Run October 2007 interest accrual calculation process. Interest payment amounts calculate correctly. However, the interest accrual calculation for a 31 day month is calculated at 31 days rather than 30 days. Explain why 31 days when day count basis is 30/360?

Solution

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