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.
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For Floating Rate Coupon Type or Inverse Floating Rate Coupon Type securities: When you select a Coupon Type of Floating Rate, the Coupon Rate field (tag 70) on the SMF is then only used for reporting, and no processing is done with that field. Eagle Accounting does not support the setup of Floating Rate TIPS or Convertible bonds with a Floating Rate Coupon Type. There is a conflict between the primary and underlying security master files, specifically the Index Offset, and Convertible Ratio fields. Therefore, Floating Rate TIPS and Convertible Bond securities should be set up as Variable Rate securities.
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A description of the Float Rate Information fields follows.
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About Floating Rate Information Fields | About Floating Rate Information Fields | 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.
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The following figure shows the Floating Rate Information fields that the system uses for rate resets. It shows a section of Issue Viewer's Long Term Debt panel. 
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