Any automatic event that is scheduled for a holiday is processed as per your specifications in the Branch Parameters table.

If you have specified that processing has to be done on the last working day (before a holiday) for automatic events that fall due on holidays, the events falling on the holiday is be processed during end of day on the last working day before the holiday.

If you have specified that processing has to be done only up to the System Date (today), then only the events scheduled for the system date (the last working day before the holiday) are processed. The events that fall due on the holiday is processed on the working day after the holiday, during beginning of day processing.

Example

The current system date is 30 October 1998. A repayment schedule for a loan falls due on 31 October 1998. This is a holiday.

If you specified that processing has to be done today (the last working day before the holiday) for automatic events right up to the day before the next working day, the schedule liquidation (for events falling on 31 October 1998) is done on 31 October during end of day processing.

If you have specified that processing has to be done only up to the System Date (today), then only the events scheduled for 30 October, are processed on that day. The liquidation scheduled for the holiday (31 October), are done during beginning of day processing on 1 November.