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Securities Bond With Floating Rate having Wrong Coupon Calculation (Doc ID 2808863.1)

Last updated on OCTOBER 21, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.0.2 and later
Information in this document applies to any platform.

Symptoms

On : 12.0.2 version, Production Support-SET

ACTUAL BEHAVIOR
---------------
Securities bond with floating rate having wrong coupon calculation
System not considering floating rate for next schedule of coupon liquidation. Its picking old rate itself instead of rate defined for respective tenor & effective date.


EXPECTED BEHAVIOR
-----------------------
System to fire coupon liquidation entries with floating rate as per the coupon schedule.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Create a instrument with floating interest rate.
2. Do a rate revision and provide a new interest effective date in CFDFLRAE
3. Run EOD and check whether accrual happens for the new effective interest
rate.

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, system fire the coupon with wrong amount , it calculated on old interest rate  not new interest rate define which is financial loss for the bank

Cause

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In this Document
Symptoms
Cause
Solution


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