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RFR - Preference - Lockout - MM - Issue With Principal Basis & Lockout Days (Doc ID 2816844.1)

Last updated on NOVEMBER 01, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 14.3.0.0.0 and later
Information in this document applies to any platform.

Symptoms

On : 14.3.0.0.0 version, Implementation Support

ACTUAL BEHAVIOR
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RFR - Preference - Lockout - MM - Issue with Principal Basis & Lockout Days

For a contract - Value Date is 11-May-2020 (Monday) - Lockout 2 days - Principal basis amount gets reset to the initial principal amount for the weekend interest calculation and an extra row for interest calculation is inserted for the weekend (16-May-2020 Saturday).

And for Lockout scenario with lockout days as 2. interest rate gets locked from the 4th last day of the schedule (from 13-May-2020) with interest rate as applicable on 12-May-2020.

EXPECTED BEHAVIOR
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Principal basis amount should not get reset during weekend calculation

STEPS
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1. Create a MM contract with RFR preference method as Lock out.

2. Execute few EOD's and verify the Principal basis amount and the interest calculate for the contract.

BUSINESS IMPACT
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NA

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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