5.2.5 Specifying the Rounding Details in Rate Settings tab
You can specify the rounding details by clicking Interest tab and then clicking Rate Settings tab.
The drawdown contract inherits the currency-wise rounding rules defined for interest components, in the interest class associated with the drawdown product (as defined in the Interest Class Definition screen).
Table 5-5 Rounding Details in Rate Settings tab
Fields | Description |
---|---|
Int Period Basis | This field indicates how the system must consider the tenor basis
upon which interest is computed over a schedule or interest period. You
can select the required option from the drop down list.
|
Rounding Rule | Indicate the currency rounding rule that must be applied to round off
interest amounts in the selected currency, for the main interest
component. The following options are available in the drop down list:
|
Decimals | This indicates the number of digits after the decimal place, to which
interest amount in the specified currency, is to be truncated. This
specification can only be made for the rounding option
Truncate. If you do not specify a value here,
the system uses the number of decimals defined for the drawdown currency
(in the Currency Definition screen).
The number of decimals specified in this field cannot exceed the number of allowed decimal places defined for the specified currency (in the Currency Definition screen). |
Units | This field indicates the lowest possible measure in which interest
amounts can be considered in the specified drawdown currency. This value
cannot be less than the rounding unit for the specified currency (as
maintained in the Currency Definition screen). If
not specified, the system picks up the rounding unit maintained for the
drawdown currency.The following details default to screen and you cannot
change them:
|
For more details on the Currency Definition screen, refer the Currency Maintenance chapter of the Common Core - Core Entities and Services User Guide .
Parent topic: Capturing Drawdown Details