What is a discount?

Discount is a commercial term, which refers to the unexpired commercial acceptance bill or bank acceptance bill issued by the payer, accepted by the acceptor and then transferred to the transferee (holder). The transferee (holder) applies to a financial institution such as a bank to realize the bill, and the bank and other financial institutions deduct the interest from the discount date to the maturity date of the bill according to the par value, and pay the balance to the holder (payee). When the commercial paper matures, the ultimate holder will collect money from the acceptor of the paper with the ticket. After the bill is issued, the holder transfers it in the discount market before the bill expires, and the transferee pays the money to the transferor after deducting the discount interest, or the bank purchases the unexpired bill.

Discount classification

Generally speaking, bill discount can be divided into three types, namely, discount, discount and rediscount. Discount: refers to the bill behavior that the holder of a commercial bill transfers the rights of the bill to the bank in order to obtain funds before the bill expires. It is a way for the holder to get financing from the bank. Discounted cash: refers to the fact that when the funds are temporarily insufficient, commercial banks hand over the discounted bills that have not yet expired to other commercial banks or discount institutions for discount, so as to obtain financing and rediscount; Refers to the behavior of the central bank to provide financing support to commercial banks by purchasing discounted but not yet expired commercial bills held by commercial banks. ?

Nature of discount:

Discounting is the asset business of banks. The payer of the bill owes money to the bank, and the bank actually has an indirect loan relationship with the payer. Discount rate: floating on the basis of the current rediscount rate of the People's Bank of China. The discount rate is the market price, which shall be determined by both parties through consultation, but the maximum discount interest shall not exceed the loan interest calculated in the current period. Discount interest is the interest paid by the payee of the bill to the discount bank before the bill expires. China's bill market organically links enterprises, commercial banks and central banks through the issuance and acceptance, discount and rediscount of bills, thus effectively conducting monetary policy. ?

Calculation formula of discount

1. Discount of interest-free bills

Discount interest = bill face value x discount rate x discount period (2) Discount interest of interest-bearing bills = bill maturity value x discount rate x discount days /360 discount days = actual days from discount date to bill maturity date.

2. How to calculate the discount? For example, Company A deposited 500,000 yuan in the bank on 202 1, with a term of 6 months, the date of issue on 202 1, July 65438+3: Company A discounted the bills on August 5, 2002. It is known that the coupon monthly interest rate of this bill is 0.8%, the bank discount rate is 1%, the discount interest and the amount that the bank needs to pay to Party A = 50 * (1+6 * 0.8%) * (6-24/30) *1%= the amount that the bank needs to pay to Party A.