Zinsverlopen

Zinsverlopen refers to the interest accrued on a financial instrument between payment dates. In simpler terms, it's the portion of the next interest payment that has already been earned by the seller of a bond or other fixed-income security, but not yet received from the issuer. When a bond is traded between coupon payment dates, the buyer typically pays the seller the accrued interest in addition to the bond's market price. This compensates the seller for the interest they have earned but will not receive directly from the issuer.

The calculation of zinsverlopen is based on the bond's coupon rate, face value, the number of days since the last interest payment, and the total number of days in the current interest period. Different day-count conventions exist, such as actual/actual, 30/360, or actual/360, which can slightly alter the accrued interest amount. This practice ensures that neither party unfairly benefits from the timing of the trade. The buyer effectively receives the full coupon payment on the next due date, as they have already paid the seller for the portion earned prior to the purchase. Understanding zinsverlopen is crucial for investors to accurately assess the total cost of a bond purchase and the yield they can expect.