With exception of Outright ETR trades like fixed credebt® facilities, the Discount Percentage is calculated on a daily basis using the Trans-European Automated Real-time Gross settlement Express Transfer 2 [TARGET2] system from the European System of Central Banks using the Euroclear method of 1/360 to define 1 day, or part thereof. Asset ETR/a-ETR Finance uses periodic repayments where the calculation uses a single, same amount payment, at the end of each period on a fixed rate percentage, based on a fixed number of compounding periods and using TARGET2. Variable credebt® facilities like b-ETR, c-ETR or d-ETR Trade Finance, applies the Discount Rate every TARGET2 day where the calculation uses a fixed rate percentage, based on the number of days the ETR remains outstanding.