New Currency Loan Opened And Interest Accruing Over 365 Days Rather Than 360.
(Doc ID 2967773.1)
Last updated on AUGUST 16, 2023
Applies to:
Oracle Banking Corporate Lending - Version 14.5.0.0.0 and laterInformation in this document applies to any platform.
Symptoms
On : 14.5.0.0.0 version, Implementation Support
ACTUAL BEHAVIOR
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New currency loan opened and interest accruing over 365 days rather than 360.
Rate change has been successfully but interest accruing over 365 days rather than 360 days
User have checked the other currency loans and the int component DAYS IN MONTH & YEARS are normal blank but are pulling through actual. Existing loans are ok.
We have also looked at Prod and when you open a currency loan these fields are blank.
User was unable to change the parameters also.
EXPECTED BEHAVIOR
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Interest accrual should be 360 days instead of 365 days.
STEPS
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The issue can be reproduced at will with the following steps:
1. Create a new loan for AMO1 product.
2. After defaulting the product, in components tab, for MAIN_INT component verify the data that is populated for DAYS IN MONTH & YEARS field
BUSINESS IMPACT
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The issue has the following business impact:
Due to this issue, Interest accrual logic is changed.
Changes
Cause
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In this Document
| Symptoms |
| Changes |
| Cause |
| Solution |
| References |