- In Accounting Center, in the left navigation pane, click Setup > Securities > Manage Securities > Issue Viewer.
You see the Issue Viewer tool. - In the left navigation, double-click Issue Variable Rates and Add Variable Rate.
You see the Add Variable Rate panel. - Complete the options on the Add Variable Rate panel.
The following fields are required to add a variable rate: Source Name, Asset ID Type, Asset ID, Issue Name, Effective Date, Variable Rate, - To add additional variable rates:
– Right-click near the bottom of the panel and select Add Rows.
– Enter the number of rows you want to add.
– Click OK.
– Complete the options on each row you added. - Click Submit.
Change Variable Rates
To change a variable rate:
- In Accounting Center, in the left navigation pane, click Setup > Securities > Manage Securities > Issue Viewer.
You see the Issue Viewer tool. - In the left navigation, double-click Issue Variable Rates and Change Variable Rate.
You see the Change Variable Rate panel. - Complete the options on the Change Variable Rates panel.
For example, enter the query parameters to identify the rate you want to change. - Click Submit.
You see a list of rates that meet the selection criteria. - Select the rate you want to change and click Change Selected Variable Rate Record.
- Update the record with the correct values for the Variable Rate, Next Refix Date, Schedule Period Type, and Reset Day fields.
The effective date is part of the primary key and you cannot change it. If you need to change the effective date, you must delete the record and re-enter the rate using the correct date.
If a rate is changed for the current coupon period, the system picks up the new variable rate the next time the earnings process is invoked. If the variable rate is changed for a prior period, the earnings process needs to be rolled back to the effective date of the variable rate change, and replayed forward to correctly reflect the position's earnings value. - Click Submit.
Delete Variable Rates
To delete a variable rate:
- In Accounting Center, in the left navigation pane, click Setup > Securities > Manage Securities > Issue Viewer.
You see the Issue Viewer tool. - In the left navigation, double-click Issue Variable Rates and Delete Variable Rate.
You see the Delete Variable Rate panel. - Complete the options on the Delete Variable Rates panel.
For example, enter the query parameters to identify the rate you want to change. - Click Submit.
The system displays the values that meet the specified criteria. - Select the rate you want to delete and click Delete Selected Variable Rate Record.
- Click Submit.
List Variable Rates
To list a variable rate:
- In Accounting Center, in the left navigation pane, click Setup > Securities > Manage Securities > Issue Viewer.
You see the Issue Viewer tool. - In the left navigation, double-click Issue Variable Rates and List Variable Rates.
You see the List Variable Rates panel. - Complete the options on the List Variable Rates panel.
For example, enter the query parameters to identify the rate you want to change. - Click Submit.
Add Variable Rate Panel Options
The following are the options in the Add Variable Rate panel.
Option | Tag | Description |
|---|---|---|
Lookup Security | ||
Source Name | 3301 | Specifies the source interface. This field must match the value in the Variable Rate Source field (tag 3301) on the entity for the system to recognize that rate in the earnings process. If the source name does not match the entity's variable rate source, the system does not use the rate in the earnings process. |
Asset ID Type | 1432 | Specifies the primary asset identifier type for the security, such as CUSIP, ISIN, and SEDOL. |
Asset ID | 14 | Specifies the identification number for the security. |
Issue Name | 961 | Specifies the name of the security. |
Coupon Type Code | 97 | Displays the specified coupon rate. |
Maturity Date | 38 | Displays the date the final principal payment is due on the security. |
Issue Date | 68 | Displays the date the security was issued. |
Dated Date | 1183 | Displays the dated date of the issue. |
Processing Security Type | 3931 | Specifies the processing security type. |
Variable Rates | ||
Effective Date | 1109 | Specifies the effective date of the variable rate. For an unscheduled variable rate coupon type, the effective date is also the coupon drop date. |
Variable Rate | 96 | Specifies the variable rate for the security record. |
Next Refix Date | 1125 | Determines the period remaining until the next adjustment of the interest rate for variable rate securities. The system uses this value to calculate days to maturity for variable rate securities in the Weighted Average Maturity (WAM) report. You can use the Add Report Override panel to apply a refix override that influences the report. |
Schedule Period Types | 1123 | Specifies the frequency of the rate reset. It is used for reporting only. Options include:
|
View Variable Rate Journals
The Variable Rate Journal keeps track of changes made to the variable rates.
To view the Variable Rate Journal:
- In Accounting Center, in the left navigation pane, click Setup > Securities > Manage Securities > Issue Viewer.
You see the Issue Viewer tool. - Use Issue Viewer to locate the variable rate security you want to view in the Variable Rate Journal.
- Click the security in the Query Result list.
- Click the Variable Rates tab near the middle of the Query Result window.
If no rates exist, you see a "Query returned no data" message. Otherwise, you see a list of existing variable rates. - Click the Variable Rate Journal tab.
You see the List Variable Rate Journal Details panel. - Complete the options on the Variable Rate Journal panel.
The Begin Date and End Date fields refer to the update date (date of change) rather than the effective date of the variable rate. - Click Submit.
You see the Submit Query dialog box. - Click the Standard Report, Grid Report, or Advanced Report button.
You see the variable rate change history in the selected format.
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