8.2.57.2 Module Usage

Oracle ALM and Oracle FTP use Holiday Calendar Code to determine Holiday definition to be associated while calculation.

The Holiday Calendar Code stores the Holiday Calendar Definition which contains the details such as name, description, weekend holidays, fixed and moving holidays. The Holiday Calendar Code should be a unique number ranging from 1 to 99999.

Holiday Calendar Codes can be maintained at both the instrument level and Product Characteristic level. The definition is given at the Instrument level always takes precedence. If it is not defined at the instrument level, the engine will use details from the Product Characteristic level.

For New Business, Holiday details are derived from the Product Characteristic level only. For more information, see the Application Preference section of the OFS ALM User GuideOFS ALM User Guide.

Note:

Ensure “Enable Holiday Calendar Adjustments” checkbox selected in Application Preferences. Otherwise, the engine will skip Holiday Adjustments.

Holiday Calendar adjustments are not supported for the following scenarios:

1. Historical dates are not holiday adjusted. For example, an Instrument which has already originated LAST_PAYMENT_DATE, LAST_REPRICE_DATE is before As of Date. These dates are not holiday adjusted.
2. The instrument with PMT_FREQ less than 5 Days.
3. When the Payment schedule is used (AMRT_TYPE_CD=800, 801, 802). It is expected that Payment dates provided in the Payment schedule are Holiday Adjusted Dates.

Note:

With Holiday Calendar associated, multiple payments for an instrument may get rolled into a working day. The engine cannot handle multiple payment events on a single date. Therefore, it is recommended to ensure multiple Tenor (Multiplier), in behavior pattern; payment pattern; user-defined Early Redemption/ Prepayment, do not combine or roll into a single payment date, on the event of a Holiday.