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Rate Revision Applied On Loans Which Have Fixed Rate And Only Previously Having The Particular Rate Code (Doc ID 2919473.1)

Last updated on JANUARY 06, 2023

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.0.1 and later
Information in this document applies to any platform.



Bank changed a particular Floating loan rate code value let's say rate code "XYZ" . However, this also affected the Loan contracts with Fixed Interest rate, means those contracts whose current rate code is null against the latest UDE Effective Date and only UDE VALUE is applied as resolved rate.

It's noted that the affected contracts previously had a the "XYZ" rate code  then a VAMI was done later to change them from Floating rate to Fixed rate.

Now that the "XYZ" rate code value is changed, all such contracts have been affected as if they are having "XYZ" rate code as latest rate.

After this issue, in CLTB_ACCOUNT_UDE_VALUES we see the second last rate maintenance is having NULL rate code, upon rate code "XYZ" value change system inserted a new rate effective from this date with rate code "XYZ"



As the last rate was maintained with NULL rate code so no new rate record creation was expected.

The issue can be reproduced at will with the following steps:
1. Change the loans rate code value and verify the fixed rate contracts get impact or not which previously had that rate code.

The issue has the following business impact:
Due to this issue, incorrect rates are applied.


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