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In the Schedule tab of the Securities workspace, you can add a custom sink schedule for a sinking fund security. For more information about adding schedules in Reference Data Center, see Manage Schedules.
To add a custom sink schedule:
- In Reference Data Center's Reference Desk workspace, click Securities in the left navigation.
You see the Securities workspace with all the available securities. - Select a security, edit the security details, and then click the Schedule tab.
The security must have the Sinking Flag option set to Yes for you to add a sink schedule or a custom sink schedule. - Click Add Security Data.
You see the Add Schedule dialog box. - In the Schedule Type list, click CSTMSINK.
This allows you to add a custom sink schedule. By default the Source Type box defaults to Gold Copy, but you can create new vendor data by selecting Vendor, and then selecting the corresponding Source.
- Click OK.
You see the Add Schedule panel with specific fields corresponding to the type of schedule you selected. - In the Effective Date box, specify the effective date of the transaction.
- In the Schedule Amount box, specify the amount for the schedule.
For a custom sink schedule, the Schedule Amount values must add up to 1.0, or 100%. However, if you set the Bypass Sink Check option to Yes, the system does not require the Schedule Amount values or payments for the custom sink schedule to add up to 1.0, or 100%. - In the Bypass Sink Check box, indicate whether the system bypasses the sink check, and ignores the restriction that requires the custom sink schedule entries to have Schedule Amount values for payments that total to a value of 1.0, or 100%. Options include:
- Yes. The system bypasses the sink check. The system does not require the custom sink schedule entries to total to a value of 1.0, or 100%.
- Null. Default. The system does not bypass the sink check. The system requires the custom sink schedule entries to total to a value of 1.0, or 100%. - If you want to add one or more entries to the schedule, click Add Row, and complete the information for each additional row.
- Click Save.
The system saves the schedule to the database.
When you add a custom sink schedule, the system creates a custom sinking fund schedule in the Schedule table,The schedule has a Schedule Type of CSTMSINK. The system also creates a corresponding custom sinking fund schedule in the Corporate Action table. The sink schedule has a Transaction Type of PMT, a Reason of Custom Sink, and. Corporate Action Notes of CUSTOM_SINK.