MT569: (41) 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 mandatory subsequence C1a
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 |
MARG |
N |
|
A |
Margin |
3 |
O |
RSPR |
N |
|
A |
Spread Rate |
DEFINITION
This qualified generic field specifies:
MARG |
Margin |
The collateral excess/shortage expressed in the percentage of the collateral required. |
PRIC |
Pricing Rate |
Interest rate to be paid on the transaction amount, as agreed between the counterparties. |
RSPR |
Spread Rate |
Margin rate over or under an index. |
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.
Sign must not be present when Rate is zero.
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).
