Setting Up Bank Base Rates

Access the Bank Base Rates Revisions form.

Bank Code

Enter a user-defined code from UDC table 74U/BC that specifies a bank for which you can associate interest rate percentages based on effective dates. You can use this information when you set up interest and fee tables by bank code.

Effective Start Date and Effective End Date

Enter the date on which the annual interest rate is effective or expires.

Annual Interest Rate

Enter the number that specifies the annual percentage to apply as interest on past due amounts. You can enter the number in either a decimal format or as a whole number. For example, you can enter 0.05 or 5.0 to specify five percent.

Last Date Interest Calc Run (last date interest calculation run)

Enter the date that the record was last used in an interest calculation by the Fee & Interest Calculation program (R74U5160).

Last Date Interest Generation Run

Enter the date that the record was used for interest generation by the Global Generation program (R74U0210).