Floating Rebate Rate Reset Frequency - Time Period

Field 2.64 | Matching Date: 2023-01-01 | Tolerance: None | Agent Lender Data Provision: No>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 2.64 | Matching Date: 2023-01-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Time period describing frequency of the floating rebate rate resets.

Best Practice:
If Field 2.59 (Floating Rebate Rate) is populated, at least one code pertaining to the floating rebate rate reset frequency time period shall be provided, of which there are 4 options (x4 alphabetical characters), else the field should be left blank.

Fields 2.60-2.65 are only populated upon Field 2.59 (Floating Rebate Rate) being populated.

Time period describing how often the counterparties reset the floating rebate rate, whereby the following abbreviations apply:

Day = DAYS
Week = WEEK
Month = MNTH
Year = YEAR

Time periods should be measured in weeks rather than days, months rather than weeks or days, and years rather than months, weeks or days, except if this would result in a fractional frequency, in which case, the immediately shorter time period should be used. (SFTR-84)