# tbillval01

Value of one basis point

## Syntax

```[Val01Disc, Val01MMY, Val01BEY] = tbillval01(Settle, Maturity)
```

## Arguments

 `Settle` Settlement date of Treasury bills. `Settle` must be earlier than `Maturity`. `Maturity` Maturity date of Treasury bills.

## Description

```[Val01Disc, Val01MMY, Val01BEY] = tbillval01(Settle, Maturity)``` calculates the value of one basis point of \$100 Treasury bill face value on the discount rate, money-market yield, or bond-equivalent yield.

`Val01Disc` is the value of one basis point of discount rate.

`Val01MMY` is the value of one basis point of money-market yield.

`Val01BEY` is the value of one basis point of bond-equivalent yield.

All outputs are of size equal to the number of Treasury bills (`NTBILLS`) by `1`.

## Examples

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### Compute the Value of One Basis Point

This example shows how to compute the value of one basis point, given a Treasury bill with the following settle and maturity dates.

```Settle = '01-Mar-03'; Maturity = '30-June-03'; [Val01Disc, Val01MMY, Val01BEY] = tbillval01(Settle, Maturity) ```
```Val01Disc = 0.0034 Val01MMY = 0.0034 Val01BEY = 0.0033 ```

## References

This function adheres to SIA Fixed Income Securities Formulas for Price, Yield, and Accrued Interest, Volume 1, 3rd edition, pp 108 - 115, on zero coupon instrument pricing.