Meaning of ACTUAL/360 in English

ACTUAL/360

The day-count convention applied for the calculation of interest on a credit, implying that the interest is calculated over the actual number of calendar days over which the credit is extended, on the basis of a 360-day year. This day-count convention is applied in Eurosystem monetary policy operations.

See also:

European Central Bank English Glossary.      Английский глоссарий Европейского Центрального Банка.