3.2.15.1 Holiday Treatment for Disbursement/Payment/Revision/Maturity Schedules

You also have the option of specifying holiday handling preferences if the maturity date of a contract falls on a holiday. You can select one of the following options if either the schedule date or the maturity date falls on a holiday:

• Ignore the holiday
• Specify preferences for the movement of the maturity date

Table 3-8 Holiday Preferences

Field	Description
Schedule Movement	If you have indicated that a currency holiday should not be ignored for the contract, you need to specify whether the schedule date/maturity date should move forward to the next working day or move backward to the previous working day. Check with the appropriate field to indicate your preference.
Move Across Months	If you have chosen to move the schedule date/maturity date of a contract falling due on a currency holiday, either forward or backward to a working day and it crosses over into a different month, the schedule date/maturity date is moved to the next month only if you indicate so in this field. Select this field to allow movement of schedule date/maturity date of the contract across months. Keep it deselected to indicate that the loan should mature/schedule should be paid within the same month on the last or first working day of the month, depending on whether the schedule date/maturity date is over the month-end or the beginning of the month. Notes: You are also be prompted to specify holiday handling preferences in the following circumstances: If you amend the Maturity Date of a contract and the new date falls on a holiday. If you manually rollover a loan and the new maturity date falls on a holiday.
Cascade Schedules	The due date arrived at by the holiday treatment is considered as the start date for the due dates for the subsequent schedules.
Apply Payment Holiday Treatment:	When this option is selected, the system considers the holiday parameter defined for payment schedules. The derived Pay By Date also considers this holiday preference.