LBDDDONL-Periodic Rate Revision Is Picking Up The Wrong Rates (Doc ID 3065495.1)

Last updated on DECEMBER 30, 2024

Applies to:

Symptoms

ACTUAL BEHAVIOR
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During Periodic rate revision, system is defaulting the rate to zero and adjusting it with the minimum rate provided at account level.

Simulation Steps:
1. Created a floating rate loan account with float rate code attached to the Main_int component and DEFER_COMP (another interest component).
2. The Rate code attached is "CORREDOR" and the corresponding rate 18% is defaulted to both the components correctly on loan booking.
3. Now there is periodic rate revision scheduled for next day.
4. Change "CORREDOR" rate to 14% for the next day through CFDFLTRI screen.
5. Run the EOD to reach the next day
6. Now the REVN event is fired but the rate defaulted is zero, so system adjusted it to the Minimum rate maintained for the components.
7. We also observed two REVN events fired under the events.

Expectation:
1. System should have picked the correct rate - 14%
2. only one REVN event should be fired.

Cause

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