Industry WIKI

In finance, a day count convention determines how interest accrues over time for a variety of investments, including bonds, notes, loans, mortgages, medium-term notes, swaps, and forward rate agreements (FRAs). This determines the number of days between two coupon payments, thus calculating the amount transferred on payment dates and also the accrued interest for dates between payments.

The term "bank" is attributed to the tables used by "trapezitai", ancient Greek bankers, which provided currency exchange, money storage and loan services, facilitating trade. (See main article: History of Banking)