5.24.1 Automatic Rate Set Process
Auto rate setting process fixes the Base Rate of Drawdown Main Interest component having Rate Fixing Required as Yes for the contract in Agency module of the types:
- DD
- Consolidated rollover
- Split rollover
- Split re price
- Current dated
- Back dated
- Future dated
This is defining the appropriate rate rule through rate setting screen for the above said contracts.
- DrawDown Contract Online (LBDDDONL)
If the rates are not available for rate fixing date, then the insertion of Contract Reference Number, Processing Status, Rate Fixing Date Actual, Date, Rate Code, and Rate Fixing Date Used (OLSRATLG) happens in the rate log table. You can either save the contract with 0 rate or with previous rate based on the loan parameters maintained in the Interest Limits Detail screen (OLDINTLM).
After saving the contract, if the rates are maintained for the actual rate fixing date in the Floating Rate Maintenance screen (CFDFLTRI), you can run the rate fixing job from Job Processing screen (LBSJOBRN). Thereafter, the rate is picked for the actual rate fixing date. and REVN event is fired at the contract level. - Consolidated Rollover (LBDCOROL)
In Consol Rollover Input screen, the Rate Fixing Required check box and Rate Fixing Days are available in Normal and Split tabs.
Rate Fixing Required check box is defaulted from the Loan Syndication - Product Definition screen (LBDPRMNT) and Rate Fixing Days is defaulted from Interest Limits Detail screen. - Split Rollover (LBCSPROL)
In Split Rollover screen, the Rate Fixing Days is defaulted from the Interest Limits Detail screen.
- Split Reprice (LBDREPRS)
In Re-price Transaction - Spilt Details screen, Rate Fixing Required check box is defaulted from Product screen (LBDPRMNT) and Rate Fixing Days is defaulted from Interest Limits Detail screen.
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