Description
Return collateral×annualRate×days/basis.
Interest and accrual depend on the rate period, compounding rule and day-count basis. A supplied fraction of a year or coupon period is different from deriving that fraction under a contractual calendar convention.
Return collateral×annualRate×days/basis.
When to use this tool
Use Securities Lending Rebate Day Term when you need one interest, accrual or supplied-period calculation.
How to use the tool and how it works
- Enter collateral, annualRate, days, basis. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read rebate. Use the output convention below.
Require nonnegative collateral/days and positive integer basis. Return collateral×annualRate×days/basis.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| collateral | Collateral | Required. Finite number; minimum 0. |
| annualRate | Annual Rate | Required. Finite number. |
| days | Days | Required. Safe integer; minimum 0. |
| basis | Basis | Required. Safe integer; minimum 1. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| rebate | Rebate | Required. Finite number. |
{
"input": {
"collateral": 10000,
"annualRate": 0.036,
"days": 10,
"basis": 360
},
"output": {
"rebate": 10
}
}Limitations and assumptions
- Annual rate is a signed fraction; basis is caller-supplied days/year. This simple rebate term does not determine lending eligibility, actual day count, fees or legal rights.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Use the full schedule and applicable agreement for actual charges. State rate units, compounding, calendar basis and rounding policy rather than assuming one universal accrual convention.
References
Similar or alternative tools
- Margin Interest Tier One Slice
Clamp balance into the tier slice and multiply slice by annualRate×fractionOfYear.
- Finance: Coupon Accrual From Explicit Day Counts
Multiply coupon by elapsed/period.