MT566: (58) Field 92A: Rate
FORMAT
| Option A | :4!c//[N]15d | (Qualifier)(Sign)(Rate) |
PRESENCE
Optional in optional subsequence D1a
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
O |
PRFC |
N |
|
A |
Previous Factor |
2 |
O |
NWFC |
N |
|
A |
Next Factor |
3 |
O |
INTR |
N |
|
A |
Interest Rate |
4 |
O |
NXRT |
N |
|
A |
Next Interest Rate |
DEFINITION
This qualified generic field specifies:
INTR |
Interest Rate |
Annualised interest rate of a financial instrument used to calculate the actual interest rate of the coupon or the accrued interest. |
NWFC |
Next Factor |
Factor used to calculate the value of the outstanding principal of the financial instrument (for factored securities) that will applicable after the redemption (factor) date. |
NXRT |
Next Interest Rate |
Interest rate applicable to the next interest payment period in relation to variable rate instruments. |
PRFC |
Previous Factor |
Factor used to calculate the value of the outstanding principal of the financial instrument (for factored securities) until the next redemption (factor) date. |
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
Sign must be present when Rate is negative.
Except for previous (PRFC) and next (NWFC) factor rates (typically defined as a decimal), 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).
In case of partial redemption by pool factor, PRFC (Previous Factor) provides the factor applicable before redemption and NWFC provides the factor applicable after redemption.
