Day count basis

Methods for calculating payment days on holidays

In Nordkap, you can choose different day count basis methods that govern how payment days are handled on holidays:

• Modified Following 
  Means that if a payment day falls on a holiday, it is moved to the next available banking day. 
• Following 
  Means that the payment day is moved to the next available banking day, regardless of whether it is in the following month/year. 
• IMM 
  Means payment on the third Wednesday of March, June, September, and December. 
• No adjustment 
  Means that no adjustment is made if the payment day is a non-banking day.