4.29.4 Floating Periodic Manual Contracts

You can amend the following options for the rate fixed in the past:
  • Interest Rate
  • Spread
  • Reset End Date
  • Current reset date (in new mode)
  • Reset Value date (only when the reset value date is in future)
RTAM and RTFX are registered for this modification. Reset end date for the past period is allowed for modification. However, the same is not allowed to be increased if the rate is already fixed for the next period.

If the reset end date is reduced, the system calculates the fixing a rate for the interim gap created due to end date reduction. In such cases RCHG and RTFX events are activated for the new rate fixing. Reset value date cannot be less than the current reset date.

You can modify the rate fixing details, even if the current rate type of the component is not floating periodic manual. However, the rate type should be Floating periodic manual for the rate fixing period.

Reset value date can be beyond the last payment date when the rate is being fixed for the interim gap created due to the reduction of reset end date.

Note:

Amendment of rate revision method is not be allowed on the day rate revision has already happened.

During reprice the repayment schedules do not default from the parent contract to the child contract. CAMD event has to be triggered for the child contract to define the schedules.