MT527: (31) Field 92a: Rate
FORMAT
| Option A | :4!c//[N]15d | (Qualifier)(Sign)(Rate) |
| Option C | :4!c/[8c]/24x | (Qualifier)(Data Source Scheme)(Rate Name) |
PRESENCE
Optional in conditional (see rule C1) sequence B
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
O |
PRIC |
N |
|
A or C |
Pricing Rate |
2 |
O |
RSPR |
N |
|
A |
Spread Rate |
3 |
O |
VSMR |
N |
|
A or C |
Value Sought Margin Rate |
DEFINITION
This qualified generic field specifies:
PRIC |
Pricing Rate |
Interest rate to be paid on the transaction amount as agreed between the counterparties. |
RSPR |
Spread Rate |
Margin allowed over or under a given rate. |
VSMR |
Value Sought Margin Rate |
Percentage by which the collateral value sought is increased, in selecting securities for a collateral basket, to reflect the taker's margin requirements. |
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.
If Rate is zero, Sign must not be present.
USAGE RULES
In option C, Rate Name specifies the reference rate or basis rate on which a rate is based (ex: EONIA, EURIBOR, LIBOR, FEFUND, EURREPO).
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).
