COUPDAYBS

Updated 2023-10-06 13:51:39.427000

Syntax

SELECT [westclintech].[wct].[COUPDAYBS] (
  <@Settlement, datetime,>
 ,<@Maturity, datetime,>
 ,<@Frequency, float,>
 ,<@Basis, nvarchar(4000),>)

Description

Use the scalar function COUPDAYBS Calculate the number of days from the beginning of the coupon period to the settlement date.

Arguments

@Settlement

the settlement date occurring within the coupon period of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Maturity

the maturity date of the instrument. @Maturity is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Basis

is the type of day count to use. @Basis is an expression of the character string data type category.

{"columns":[{"field":"Basis","width":139},{"field":"Day count basis","width":174}],"rows":[{"Basis":"0 or omitted","Day count basis":"US (NASD) 30/360"},{"Basis":"1","Day count basis":"Actual/Actual"},{"Basis":"2","Day count basis":"Actual/360"},{"Basis":"3","Day count basis":"Actual/365"},{"Basis":"4","Day count basis":"European 30/360"}]}

@Frequency

the number of coupon payments per year. For annual payments, @Frequency = 1; for semi-annual, @Frequency = 2; for quarterly, @Frequency = 4. @Frequency is an expression of type float or of a type that can be implicitly converted to float.

Return Type

int

Remarks

A settlement date occurs in the coupon period where the settlement date is greater than or equal to start date of the coupon period and less than the end date of the coupon period (as the end date of one period is the start date of the next period).

If the @Frequency is any number other than 1, 2 or 4, COUPDAYBS returns an error.

If @Basis < 0 or @Basis > 4, COUPDAYBS returns an error.

If @Settlement > @Maturity, COUPDAYBS returns an error.

If @Maturity is the end of the month, then COUPDAYBS always calculates previous coupon dates as the last day of a month.

Examples

SELECT wct.COUPDAYBS('12/16/2007', '3/1/2027', 2, 1);

This produces the following result.

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