MT540: (57) 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 optional sequence D
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
O |
VASU |
N |
|
C |
Variable Rate Support |
2 |
O |
REPO |
N |
|
A |
Repurchase Rate |
3 |
O |
RSPR |
N |
|
A |
Spread Rate |
4 |
O |
PRIC |
N |
|
A or C |
Pricing Rate |
5 |
O |
SLMG |
N |
|
A |
Stock Loan Margin |
6 |
O |
SHAI |
N |
|
A |
Securities Haircut |
DEFINITION
This qualified generic field specifies:
PRIC |
Pricing Rate |
Interest rate to be paid on the transaction amount, as agreed between the counterparties. |
REPO |
Repurchase Rate |
Repurchase rate used to calculate the repurchase amount. |
RSPR |
Spread Rate |
Margin over or under an index that determines the repurchase rate. |
SHAI |
Securities Haircut |
Haircut or valuation factor on the security expressed as a percentage. |
SLMG |
Stock Loan Margin |
Percentage mark-up on a loan consideration used to reflect the lender's risk. |
VASU |
Variable Rate Support |
Index or support rate used together with the spread to calculate the repurchase rate. |
NETWORK VALIDATED RULES
The integer part of Rate must contain at least one digit. A 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 variable rate is based (ex: EONIA, EURIBOR, LIBOR, FEFUND, EURREPO).
Sign must be present when Rate is negative.
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).
