9.5.1 Specifying Details for Rolled Over Contracts

When you indicate the rollover method as Split, the system creates multiple draw down contracts out of the original draw down contract. For each rolled over contract, the system generates a split number.

You must indicate preferences for these rolled over contracts in the Split Rollover Details screen.

You must indicate the following details:

• The amount that can be rolled over to create each of the multiple contracts that will be created as part of the rollover split. You can also indicate how the amount is to be considered, just as you would in the case of a special rollover amount, as explained in previous sections, as for a normal rollover.
• The draw down schedule to which the new contract, created out of the rollover split, would be linked.
• Whether the repayment schedules applicable for the rolled over contract created out of the rollover split, must be defaulted from the product used by the original contract, or the original contract itself.
• Whether the rolled over contract created out of the rollover split, is to have a fixed maturity, matures at call or at notice
• For fixed maturity contracts, the maturity date
• For contracts maturing at notice, the applicable notice days
• For fixed maturity type contracts, the number of days to be added to the value date to arrive at the maturity date.

The refinance rate for the contract split rollover contract Each of the split contracts inherits the interest components defined for the original contract. All the rate details defined for these interest components, in the original contract, such as the rate type, rate code (for floating rate components) interest basis, margin and spread, interest rate rounding components are inherited by the split contract.