Formualizer Docs
ReferenceFunctionsFinancial Functions

TBILLEQ

TBILLEQ: Returns bond-equivalent yield for a US Treasury bill.

Summary

TBILLEQ converts a T-bill discount rate into an annualized bond-equivalent yield so it can be compared with coupon-bearing securities.

Remarks

  • Date inputs are spreadsheet serial dates; maturity must be after settlement.
  • The T-bill must mature within one year of settlement (DSM <= 365).
  • discount is the T-bill discount rate as a decimal (e.g. 0.09 for 9%).
  • For bills with DSM <= 182: yield = 365 * discount / (360 - discount * DSM).
  • For bills with DSM > 182 a quadratic coupon-equivalent formula is used.
  • Returns #NUM! for invalid dates, non-positive discount, or DSM out of range.

Examples

Short bill bond-equivalent yield
Grid
CellValue
No inputs on Sheet1.
Formula
=
Result
Not evaluated yet.
Expected
0.03890144779577161

FAQ

Why does TBILLEQ differ from the discount rate?

TBILLEQ annualizes the bill using a bond-equivalent convention so it can be compared with coupon-bearing yields.

Runtime metadata

Category

Financial

Signature

TBILLEQ(arg1: Number, arg2: Number, arg3: Number)

Arity

min 3, max 3

Arguments

arg1

Number · Scalar · coercion NumberLenientText

arg2

Number · Scalar · coercion NumberLenientText

arg3

Number · Scalar · coercion NumberLenientText

Caps

PURE

Source

crates/formualizer-eval/src/builtins/financial/bonds.rs

SYD

SYD: Returns sum-of-years'-digits depreciation for a requested period.

TBILLPRICE

TBILLPRICE: Returns price per $100 face value for a US Treasury bill.

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SummaryRemarksExamplesRelated functionsFAQWhy does TBILLEQ differ from the discount rate?Runtime metadata