3.2.15.2 Holiday Treatment for Principal Schedules

You can maintain separate holiday treatment for the principal and interest components interim payment schedules.

Select the Separate Holiday Treatment for Principal check box to maintain separate holiday treatment for the principal and interest components. Button P is enabled when you select this option.

You can define the holiday preferences for the principal interim payment schedules in Holiday Treatment for Principal Schedules screen. You need to specify the following options for holiday treatment of the principal component:

• Ignore Holidays – No holiday treatment for the Principal component
• Cascade Schedules – The due date arrived at by the holiday treatment will be considered as the start date for the due dates for the subsequent schedules.
• Move Across Months – Allows movement of schedule date of the contract across months.
• Move Backward – If a due date is a holiday, then the due date is moved backward to the previous working day.
• Move Forward – If a due date is a holiday, then the due date is advanced to the next working day.
• The holiday check as LOCAL, CCY and BOTH is displayed from the Product Level.

Apply Financial Centre Holiday Treatment

This check box allows you to enable financial centre holiday treatment and add the financial centres for the holiday treatment. This option is available for Disbursement/Payment Schedules, Rate Revision Schedules, Maturity Schedules and Principal Schedules tabs of Holiday Preferences screen.