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EDM: Changing Deal Settlement Date Changes Rate to Use the Oldest Market Rate Effective Date (Doc ID 2681784.1)

Last updated on JUNE 17, 2020

Applies to:

PeopleSoft Enterprise FIN Deal Management - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Symptoms

Changing Deal Settlement Date for Floating Rate Type changes Rate to the oldest Market Rate Effective Date.  Process should use the Market Rate Effective Date closest to the Settlement Date.

STEPS:
1.  Add Facility ID FAC1 > use Rate Index = CP1YC
2.  Modify existing Instrument Type = BANKLOAN
     Debt/Investment = Debt
     Rate Type = Floating
     Box checked for Drawn on Line of Credit
3.  Market Rate
     Index = CP1YC > Rate Type = CRRNT > Term = 30 > From and To Currency Code = USD
     Rates
     12012019 = 1.75
     11012019 = 1.65
     08012019 = 2.41
     06012019 = 2.43
     05012019 = 2.46
     01012019 = 2.43
     12202018 = 2.43
     10012018 = 2.24
     06142018 = 2.00
     07252000 = 2.10
4.  Add a Deal > Instrument Type = BANKLOAN > Deal Detail page automatically populates the Transaction, Settlement, Issue and Coupon Start Dates with Dates
5.  Change Transaction Date to 10/23/2019 and select the Facility ID = FAC1
6.  When Facility ID is selected, Rate populates with the most current Market Rate Effective Date
7.  Change Settlement Date to 10/23/2019
8.  Rate changes to and populates with the oldest Market Rate Effective Date instead of Effective Date closest to the Transaction Date

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution
References


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