Calculate Italian government bond accrued interest ('97 tax rules)
Introduced in release: 1.3 Component: Non-US (developed mkts) Purpose:
Calculates the accrued interest for a Italian government regular bond or odd first coupon bond using 1997 withholding tax rules. Specifically it will perform accrued interest calculations for BTPs, CTOs, CCTs, and CTEs. It also returns adjusted first coupon values to be passed to other routines.
Special Considerations:
Italian government bonds interest accrual is from previous coupon date (inclusive) to settlement date (inclusive). In this routine the variable incl_sd_in_ai can be set to determine how that is interpreted.
Alternatives:
If price and/or yield are required in addition to accrued interest, use the itgb_py_97t routine instead of this routine. If price and/or yield, current yield, estimated Macaulay duration, estimated convexity, interest on interest, etc. are required in addition to accrued interest, use the itgb_risk97t routine.
Results:
All results are calculated using the industry standard rules or generally accepted practices. The function returns the accrued interest per 100 of maturity value, accurate to as many places as supported by a double precision value.
Error Conditions:
Returned values should be ignored for a non-zero status. See Errors.
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