1.9.8 Floating Rate Details
This topic explains the Floating Rate Details
Table 1-22 Fields Description
Fields | Description |
---|---|
Reset Tenor |
Enter the tenor for which the floating rate (when applied automatically) needs to be picked up from the floating rates table, for contracts using this product. This field is applicable to floating type of interest components and fixed type with rate code attached. |
Rate Cycle Type |
Specify the rate cycle type to be used for contracts using this product. The rate cycle type is the manner in which the floating rate should be picked up for the contract. The preference that you specify here is used when the interest component does not fit into any direct parameter defined for the Rate Code. The options available are:
|
Interest Basis |
The interest basis indicates the method in which the tenor for interest has to be calculated, if their application is tenor based. It could be one of the following:
|
Borrow Lend Indicator |
You can use this field to indicate whether the borrowing rate, lending rate or mid rate must be picked up from the floating rate table, for the specified rate code. This specification cannot be changed when you enter a contract using this product. |
Rate Code Usage |
Enter a code to identify the Floating Rate you are defining. You can associate several currencies to the rate code and specify rates for each currency. While processing a contract, you need to indicate this code to make the rate applicable to the contract. |
Parent topic: Interest Details for the Product