WRITERS NOTE: new section
Using custom sink schedules allows you to process revised sink payments by modifying the data in the TRADESDBO.CORP_ACT_HIST table without needing to modify the RULESDBO.SCHEDULE data for the purpose of accounting for unexpected differences in cash that are received. The expectation is that you will eventually modify the sink schedule data in both tables to reflect the impact of the unexpected cash difference (surplus or deficit) on future payments. If you do not maintain the schedule data appropriately, you can encounter unexpected gains/losses on sink payments due to amortization differences that occur as a result of incorrect yields being used going forward.
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Custom Sinking Fund Schedule Example
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When you define a custom sinking fund schedule in the Schedule table, the schedule is based on the percentage sunk. For example, if the Original Issue Amount was $1,000,000, and the Sinking Fund Percentage is .1%, the amount posted is $1,000. For a typical sinking fund schedule, the entire Sinking Fund schedule must have Schedule Amount values that add up to 1.00 (100%). For a custom sinking fund schedule, you can set up the schedule to avoid the requirement that Schedule Amount values total to 1.00.
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