Floating Rebate Rate Reference Period - Time Period

Field 2.60 | Matching Date: 2023-01-01 | Tolerance: None | Agent Lender Data Provision: No>

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

Field 2.60 | Matching Date: 2023-01-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Time period describing reference period of the floating rebate rate.

Best Practice:
This field reports the units of time in which the rebate rate is reset and payments are calculated.

If Field 2.59 (Floating Rebate Rate) is populated, this field shall be populated and shall contain only one of the following values of which there are 4 options (x 4 alphabetic characters), otherwise the field shall be left blank:

• YEAR

• MNTH

• WEEK

• DAYS

For an example of an O/N reference rate on an Open/Overnight trade, see the following:

Field 2.60 = DAYS
Field 2.61 = 1
Field 2.64 = DAYS
Field 2.65 = 1

Also refer to Field 2.62 (Floating Rebate Rate Payment Frequency - Time Period) best practice.

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-80)