MT506: (64) Field 92a: Rate
FORMAT
| Option A | :4!c//[N]15d | (Qualifier)(Sign)(Rate) |
| Option B | :4!c//3!a/3!a/15d | (Qualifier)(First Currency Code)(Second Currency Code)(Rate) |
PRESENCE
Mandatory in conditional (see rule C11) sequence D
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
M |
EXCH |
N |
|
B |
Exchange Rate |
2 |
M |
MARG |
N |
|
A |
Margin |
3 |
M |
CHAI |
N |
|
A |
Currency Haircut |
DEFINITION
This qualified generic field specifies:
CHAI |
Currency Haircut |
Haircut or valuation factor on the currency of the collateral expressed as a percentage. |
EXCH |
Exchange Rate |
Exchange rate between the currency of the collateral and the reporting currency. |
MARG |
Margin |
Percentage by which the collateral amount needs to be adjusted. |
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. The decimal comma is mandatory and is included in the maximum length.
First Currency Code and Second Currency Code must be valid ISO 4217 currency codes.
If Rate is zero, Sign must not be present.
USAGE RULES
Except if notified differently in the rate definition, when used with format option A (:4!c//[N]15d), the rate must be expressed as a percentage, not as a decimal fraction (12% must be identified by 12, and not 0,12).
The order of the two currencies specified, when format B is used, is independent of the currencies in the collateral and reporting amount fields. Therefore the exchange rate can be expressed as a reciprocal if required.
For the calculation of the rate itself, the First Currency Code will be the base currency and the Second Currency Code will be the quoted currency (1,00 of First Currency Code = [Rate] of Second Currency Code).
EXAMPLE
The exchange rate between US Dollars and Pounds Sterling can be shown as:
:92B::EXCH//GBP/USD/1,619 (1,00 GBP = 1,619 USD)
or as:
:92B::EXCH//USD/GBP/0,618 (1,00 USD = 0,618 GBP)
