...
Eagle Accounting supports the following rate reset frequencies for Floating Rate and Inverse Floating Rate coupon types. You can select the following code values for the security's Reset Frequency field.
Code Values | Code Name |
|---|---|
10_D | 10 DAY |
14_D | 14 DAY |
28_D | 28 DAY |
30_D | 30 DAY |
35_D | 35 DAY |
49_D | 49 DAY |
12_M | ANNUAL |
2_M | BI-MONTHLY |
1_D | DAILY |
1_M | MONTHLY |
3_M | QUARTERLY |
6_M | SEMI ANNUAL |
7_D | WEEKLY |
...
As part of the floating rate process, Eagle Accounting uses the following fields to support the rate reset frequency:
...
When you set up a floating rate or inverse floater type security, you specify a Coupon Type value of Floating Rate or Inverse Floating Rate. You use the Floating Rate Information fields to define the rate reset criteria.
How Eagle Accounting Uses Floating Rate Information
Eagle Accounting begins using the Dated Date Rate of the underlying index plus any applicable index offset, from the period from Dated Date to the First Rate Reset. Floating Rates and Inverse Floating Rate securities do not automatically change to a new rate when that rate becomes available (based upon the underlying security's security alias in the Variable Rate table) instead, rate changes are based on dates in the rate reset array, which are created using the first Rate Reset Date, Reset Frequency
...
, Business Calendar, and the Business Day Convention
...
- B (Business). Uses business days to identify reset look back days, using the Business Calendar Name field (tag 1480) to identify the security's business calendar.
- C (Calendar). Uses calendar days to identify reset look back days.
...
. Note that contrary to the coupon reference data used to build the regular coupon array, there is no last rate reset date available.
Also note that the Business Calendar field is available for all securities, not just Inverse Floaters/Floating Rates and is required when you select a Business Day Convention or Day of Month Override field based on Business Day.
| Info |
|---|
For Floating Rate Coupon Type or Inverse Floating Rate Coupon Type securities:
|
The rate reset process also uses the Business Calendar Name and Business Day Convention, described in About Coupon Period Fields. It uses the Business Day Convention (tag 1536) to create rate reset schedules and is used when a payment date is scheduled for a non-business day. If for example, a rate reset schedule is expected on the 22nd of the month but the 22nd falls on a Saturday, using Following Business Day Adjust, the rate reset schedule is set to the 24th for that coupon period and Rate Reset Date
...
.
...
The
...
following
...
The following figure shows the Floating Rate Information fields that the system uses for rate resets.
Figure 30: Long Term Debt Panel – Floating Rate Information FieldsIt shows a section of Issue Viewer's Long Term Debt panel.
...