Talk:Documentation/Calc Functions/TBILLEQ

SF Comments

 * (1) Summary. Suggest replacing with the simpler statement in the ODF, including more details in the Additional details section (see comment below). Change to “Calculates the bond equivalent yield (BEY) for a US Treasury bill”.
 * (2) Returns. Delete “percentage or”. Insert “decimal” before “fraction”. Remove hyphen after “bond”. Use an uppercase “T” for “Treasury”. Add at the end – “using the given arguments”.
 * (3) Arguments, Settlement. Change “date of purchase of the security” to “settlement / purchase date of the Treasury bill”.
 * (4) Arguments, Maturity. Change “date on which the security matures (expires)” to “the maturity / redemption date of the Treasury bill”.
 * (5) Arguments, Discount. Change “discount of security” to “discount rate of the Treasury bill, expressed”. Insert “decimal” before “fraction”.
 * (6) Arguments, 1st bullet. Suggest replacing with “If either Settlement or Maturity is not a valid date then the function returns a value (#VALUE!) error”.
 * (7) Arguments, 2nd bullet. Insert “the” before “Settlement”. Settlement = Maturity should also give an error.
 * (8) Arguments, bullets. Need to include the error condition that occurs when the number of days between settlement and maturity is greater than 360 (when computed using a 360 day year basis). Please include an example of this in the Examples section.
 * (9) Additional details. Suggest adding links to the Wikipedia pages at https://en.wikipedia.org/wiki/Bond_equivalent_yield and https://en.wikipedia.org/wiki/United_States_Treasury_security#Treasury_bill.
 * (10) Additional details. Suggest including the following paragraph – “A US Treasury bill (often shortened to T-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. This function calculates the yield that a bond would need to provide growth equivalent to the Treasury bill. The bond considered assumes 365 days in the year and pays interest only at the end of the term (i.e. interest is not compounded). The Treasury bill has a 360-day year basis.”.
 * (11) Additional details. In the equation, please replace “Rate” with “Discount” to avoid confusion. In the sentence after the equation, delete “(Basis 2)”.
 * (12) Additional details. This function has no Basis argument and so the 2nd bullet and the subsequent table should be deleted.
 * (13) Additional details. It might be worth including a comment that the underlying formula for this function may not apply to Treasury bills issued by other governments.
 * (14) Examples, 1st example. Change “return on the treasury bill corresponding to a security” to “bond equivalent yield for a US Treasury bill”.
 * (15) Examples, 3rd example. Insert “the” before “Settlement”.
 * (16) ODF standard section. As far as I can tell, the code uses the USA method for counting date differences. This method is equivalent to option 0 in the definition of the Basis argument used in many other financial functions. It might be worth mentioning this, because the ODF suggests that Basis option 2 be used.

--Stevefanning (talk) 2020-11-27T14:25:33 (UTC)