Documentation/How Tos/Calc: TBILLYIELD function

From Apache OpenOffice Wiki
Jump to: navigation, search


Returns the yield for a US Treasury bill.


TBILLYIELD(settlementdate; maturitydate; issueprice)

settlementdate: the settlement (purchase) date of the Treasury bill.
maturitydate: the maturity (redemption) date of the Treasury bill.
issueprice: the issue price of the Treasury bill per $100 of par value.
A Treasury bill is a short term (up to a year) Government security, sold at a discount to its par value (face value). It pays no interest and is redeemed at par value.
The Treasury bill here has a 360 day year basis.
The yield is calculated as:
( (100 - issueprice) / issueprice ) * (360 / number_of_days_in_the_term)
where number_of_days_in_the_term are the actual number of days between settlementdate and maturitydate.

An error results if the term given is not less than one year.


TBILLYIELD("2008-07-14"; "2009-01-14"; 96)

returns approximately 0.0829, or 8.29%.


  • This function may assist with US Treasury bills if used carefully. The underlying formula may not apply to Treasury bills issued by other governments.

See Also
Personal tools