Circulars/Notifications - Domestic Market & Monetary Management Department  
 DMMD Circular Letter No. 01 of 2015

December 10, 2015 



The Presidents/ Chief Executives
Primary Dealers


Dear Sirs/ Madam,


Day Count Convention of Pakistan Investment Bonds

Please refer to SBP-BSC Circular No SEC.DIV./U-1/PIB/Intt./733/2004 on subject of Calculation of Profit on Investment made in Pakistan Investment Bonds and various other instructions issued from time to time for management of Pakistan Investment Bonds. In line with the international best practices, it has been decided to apply Actual/Actual day count for computing profit on investment in Pakistan Investment Bonds; as per the following formula

AI
=
Face Value x
Coupon Rate

2
x Day Count Factor

where,

       
Day count factor
=
            (D2 - D1)

(Days in the Coupon Period)

D1

=
  Start of Coupon Date  
D2
=
  Bond Settlement Date &  
Days in the Coupon Period
=
  Actual Number of Days in Coupon Period  

The above mentioned formula will be effective from 4th January, 2016 and will be applicable on all the issues of Pakistan Investment Bond.

 

  

Yours Sincerely,

Sd/-

(Muhammad Faisal)
Senior Joint Director


Back to Circular Page / Home Page
       
Home
About SBP
Publications
Economic Data
Press Releases
Circulars/Notifications
Laws & Regulations
Monetary Policy
Help Desk
SBP Videos
Feedback
Contact us
What's New?
Speeches
Online Tenders
Web Links

Educational Resources
Regulatory Returns
Library
Rupey ko Pehchano
Events
Zahid Husain Memorial Lecture
Careers
Sitemap
 
Best view Screen Resolution : 1024 * 768
Copyright © 2016. All Rights Reserved.