SQL Server ACCRINT Function

Updated 2023-10-06 11:45:14.720000

Description

Use the scalar function ACCRINT to calculate the accrued interest for a security that pays periodic interest.

Syntax

SELECT [westclintech].[wct].[ACCRINT] (
  <@Issue, datetime,>
 ,<@First_interest, datetime,>
 ,<@Settlement, datetime,>
 ,<@Rate, float,>
 ,<@Par, float,>
 ,<@Frequency, float,>
 ,<@Basis, nvarchar(4000),>
 ,<@Calc_method, bit,>);

Arguments

@Issue

the issue date of the security. @Issue is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@First_interest

the first interest payment date of the security. @First_interest is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Settlement

the settlement date occurring within the coupon period of the security. @Settlement is an expression that returns a datetime or smalldatetime value, or a character string in date format.

@Rate

the coupon rate of the security expressed in decimal terms. @Rate is an expression of type float or of a type that can be implicitly converted to float.

@Par

the par value of the security. @Par is an expression of type float or of a type that can be implicitly converted to float.

@Frequency

the number of coupon payments per year. For annual payments, @Frequency = 1; for semi-annual, @Frequency = 2; for quarterly, @Frequency = 4; for monthly, @Frequency = 12. @Frequency is an expression of type float or of a type that can be implicitly converted to float.

@Basis

is the type of day count to use. @Basis is an expression of the character string data type category.

Basis	Day count basis
0 or omitted	US (NASD) 30/360
1	Actual/Actual
2	Actual/360
3	Actual/365
4	European 30/360

@Calc_method

@Calc_method is a logical value that specifies the way to calculate the total accrued interest when the date of settlement is later than the date of first interest. A value of TRUE() returns the total accrued interest from issue to settlement. A value of FALSE() returns the accrued interest from first_interest to settlement. If @Calc_method is NULL it defaults to TRUE(). @Calc_method is an expression of type bit or of a type that can be implicitly converted to bit.

Return Type

float

Remarks

If @Frequency is any number other than 1, 2, 4 or 12, ACCRINT returns an error.

If @Basis < 0 or @Basis > 4, ACCRINT returns an error.

Examples

SELECT wct.ACCRINT('03/01/2008'
,'08/31/2008'
,'03/03/2008'
,0.1
,1000
,2
,0
,0);

Here is the result set

column 1
0.555555555555556