1.7.3.4 Holiday Preferences
Holiday Preference details can be added for the application in the Enrichment Stage.
For information on the screen fields, refer to the field description table below.
Table 1-106 Holiday Preferences - Field Description
| Field | Description |
|---|---|
| Ignore Holidays | You have to check this option to instruct the system to ignore the holiday. Payment schedules are processed as per the due date even if the schedule falls due on a holiday |
| Cascading Schedules | If one schedule has been moved backward or forward in view of a holiday, cascading schedules would mean that the other schedules are accordingly shifted. If you do not want to cascade schedules, then only the schedule falling on a holiday is shifted, as specified, and the others remain as they were |
| Move Across Month | If you have indicated either forward or backward movement, and the moved schedule date crosses over into a different month, you can indicate whether such movement is allowable; it will be allowable only if you indicate so in the ‘Move Across Months’ field. |
| Include Branch Holiday | Select this option to indicate that you want the system to check whether a schedule date falls on a local holiday defined for the branch. The system checks the holiday table for your branch. If it encounters a contract entered in your branch, with a schedule date falling on a branch holiday, the holiday is handled according to the holiday-handling preferences you specify |
| Use Facility Currency | If you choose this option, the system checks whether the schedule date falls on a holiday defined for the currency of the facility (borrower) contract, if this currency is different from the holiday currency you have indicated |
| Use Contract Currency | If you choose this option, the system checks whether the schedule date falls on a holiday defined for the currency of the drawdown contract, if this currency is different from both the holiday currency and the facility currency (if any) you have indicated |
| Use Tranche Currency | If you choose this option, the system checks whether the schedule date falls on a holiday defined for the currency of the tranche (borrower), if this currency is different from the holiday currency you have indicated |
| Use Local Currency | If you choose this option, the system checks whether the schedule date falls on a holiday defined for the local currency, if this currency is different from the holiday currency, facility currency and contract currency you have indicated. The system checks the holiday table for the currencies you have specified. If it encounters a contract using any of the specified currencies, with a schedule date falling on a holiday for any of the currencies, the holiday is handled according to the holiday-handling preferences you specify |
| Move Revision Schedules | You may check this option to indicate that the holiday processing rule should be applied to interest rate revision schedules as well |
| Move Payment Schedules | You may check this option to indicate that the holiday processing rule should be applied on repayment schedules as well. This is applicable only to drawdown products |
| Move Commitment Reduction Schedules | Select check box to indicate the holiday processing rule should be applied on commitment schedules. This is applicable only to tranche products. |
Parent topic: Enrichment