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You can use the following interest rate conversion flag fields when you set up fixed income securities for use with Eagle Accounting. 

Option

Tag

Description

Convert Interest Rate

9154

Indicates whether you can convert the fixed income security's reference interest rate from one rate quotation basis to another.

This option is available only for debt and derivative securities

For more information, see Convert a Security's Interest Rate from One Rate Quotation Basis to Another. Options include: 

  • Yes. You can convert the fixed income security's reference interest rate from one rate quotation basis to another.

  • No.

 Default

  •  Default. You cannot convert the fixed income security's reference interest rate from one rate quotation basis to another.

Rate Conversion Rule

12849

Identifies the name of the rate conversion rule used to convert the fixed income security's reference interest rate from one rate quotation basis to another. The rate conversion rule determines the inputs of the conversion calculation. This field appears if you set the Convert Interest Rate field to Yes.

If you set up a floating rate or inverse floating rate security with a reference rate for an underlying index that converts the interest rate, this field displays the rate conversion rule you specified for the underlying index as the default value. Otherwise, you can select a rule. Options include:

  • Semi-annual 30/360 to Monthly 30/360 (6M30360IM30360).

 For

  •  For use with assets such as Canadian MBS.

  • Discount ACT/360 to Daily ACT/365 (DRA360IDA365).

 For use with commodity total return swaps.Rate Quotation Basis of Input Rate12851

Displays the rate quotation basis of the input rate for the selected rate conversion rule. This field appears after you select a value for the Rate Conversion Rule field. If you selected a rate conversion rule of: 

  • Semi-annual 30/360 to Monthly 30/360 (6M30360IM30360), for use with Canadian MBS, this value is Semi-Annual Compounding.
  • Discount ACT/360 to Daily ACT/365 (DRA360IDA365), for use with commodity total return swaps, this value is Discount Rate Basis.
Day Count Basis of Input Rate128652

Displays the day count basis for the input rate for the selected rate conversion rule. This field appears after you select a value for the Rate Conversion Rule field. If you selected a rate conversion rule of: 

  • Semi-annual 30/360 to Monthly 30/360 (6M30360IM30360), for use with Canadian MBS, this value is 30/360.
  • Discount ACT/360 to Daily ACT/365 (DRA360IDA365), for use with commodity total return swaps, this value is ACT/360.
Rate Quotation Basis of Output Rate12853

Displays the rate quotation basis of the output rate for the selected rate conversion rule. This field appears after you select a value for the Rate Conversion Rule field. If you selected a rate conversion rule of: 

  • Semi-annual 30/360 to Monthly 30/360 (6M30360IM30360), for use with Canadian MBS, this value is Monthly Compounding.
  • Discount ACT/360 to Daily ACT/365 (DRA360IDA365), for use with commodity total return swaps, this value is Daily Compounding.
Day Count Basis of Output Rate12854

Displays the day count basis of the output rate for the selected rate conversion rule. This field appears after you select a value for the Rate Conversion Rule field. If you selected a rate conversion rule of: 

  • Semi-annual 30/360 to Monthly 30/360 (6M30360IM30360), for use with Canadian MBS, this value is 30/360.
    • Discount ACT/360 to Daily ACT/365 (DRA360IDA365), for use with commodity total return swaps, this value is ACT/365

    •  For use with assets such as commodity total return swaps.