There are three business day conventions. Following moves the date to the next business day. Modified Following does the same unless the next business day falls in the next month, in which case it moves the date to the immediately preceding business day. Preceding moves the date to the immediately preceding business day. Japan Securities Clearing Corporation (JSCC) requires the interest rate swaps it clears to use one of them. Which city's holidays count is set separately as a holiday calendar.
Business day convention
- Japanese
- 営業日の調整
- Last reviewed
- September 24, 2026
This is a draft, shown for review before publication.
A business day convention is the rule that decides which business day, before or after, a scheduled date such as an interest payment date moves to when it falls on a holiday.