Understanding Bank Base Rates

You set up annual bank base rates to calculate interest payments for the Fee & Interest Calculation program (R74U5160). As the bank base rates change, you must add new base bank rate records; the system does not enable revisions to existing base bank records. When you add a new record for an existing bank, the system automatically assigns an effective end date that is equal to the effective start date of the new rate. You can enter the rate as either a decimal or a whole number. If you need to update the same rate across numerous banks, run the Bank Base Rate Global Update program (R74U0202).

The system stores bank base rate records in the Bank Base Rates (EPM) table (F74U0202).