Set Securities to Be in Default

When you create or edit a security that leverages fixed income processing, you can identify it as being in default.

In Reference Data Center, numerous data strategies contain the two fields that denote that a fixed income security is in default. For data strategies for debt securities and hybrids, the Fixed Income Details field group includes these fields. For data strategies for derivatives, the Swap Accounting Treatments field group includes these fields. If you use the Issue Viewer tool, the Long Term Debt panel, Short Term Debt panel, Mortgage Backed Securities panel, Term Loans panel, along with equity and derivatives panels, all contain the two fields that denote that a fixed income security is in default.

• Default Indicator (tag 1551) Indicates whether security is in default. If the value is set to Yes, Eagle Accounting does not process the maturity transaction of the bond at the time of maturity. If the value of the Default Indicator is set to No or Null, Eagle Accounting processes the maturity transaction on the Maturity Date of the bond.

• Default Date (tag 10142) Specifies the date on which the bond went into default. This option is for information and reporting purposes only; no processing is executed for this field.

For general information about setting up securities, see Create and Delete Securities or Set Up Securities in Issue Viewer.