Day-Count conventions

warning: call_user_func_array() expects parameter 1 to be a valid callback, function '_book_outline_access' not found or invalid function name in /export/home/users/ibkb/drupal/drupal-6.16/includes/menu.inc on line 452.

It is beyond the scope of this document to describe day-count conventions and their use in interest calculations.  IB conforms to the international standards for day-counting wherein deposit rates for most currencies are expressed in terms of a 360 day year, while for exceptional currencies (ex: GBP) the convention is a 365 day year.