Financial Element 493 (Discount Factor Term (Days)) Incorrectly Using 366 Days in Non-Leap Year (Doc ID 2298205.1)

Last updated on AUGUST 23, 2017

Applies to:

Oracle Financial Services Asset Liability Management - Version 8.0.0 and later
Information in this document applies to any platform.
Oracle Financial Services Analytical Applications (OFSAA)

Symptoms

In Oracle Financial Services Asset Liability Management (ALM) 8.0, when validating Market Value generated by an ALM Process, you see the cash flow engine creates Financial Element (FE) 493 - Discount Factor Term (Days) - in FSI_O_PROCESS_CASH_FLOWS using 366 days in a year for an account that matures in the January or February after a leap year (i.e. Jan 2017 or Feb 2017).

Example:

As of Date: 15-FEB-2017
Maturity Date: 16-FEB-2017

FE 493 = 0.002732 = 1 / 366

You expect ALM to use "365" to calculate FE 493 in a non-leap year.

Cause

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