PURPOSE
This document describes how to maintain interest rate swap and structure.
PROCEDURE
1. From the Interest Rate Swap launch screen, click on the Edit button of the transaction to amend.
2. The Amend Interest Rate Swap screen is displayed. Click Structure.
3. Select the interest rate swap periodic structure to amend by clicking on the Edit button next to the VDate. In this example, the first one 15 Nov 2023 will be amended. The fields below will be populated with the information on that interest rate swap periodic item.
4. Make the necessary changes. In this example the Interest rate of the Receive leg will be changed.
5. Click Update. The Interest Rate Swap structure will be updated with the amended interest rate at the Receive leg. All future periodic items interest rate will also change.
6. If there are mistakes in the amendments done, click Revert before saving and the previous values will be restored.
7. Once amendments are done, click Save . A popup appears, click Yes. Note the once saved, the amendments cannot be reverted.
8. To insert new interest settlement in the structure, click Clear from the Maintain Interest Rate Swap screen. The fields below will be blank.
9. Fill in the mandatory fields characterized by an asterisk (*).
10. Click Update. Then, click Save to save the structure. Once the structure is saved, you will be redirected back to Amend Interest Rate Swap. Click Structure to return to Maintain Interest Rate Swap screen.
11. To book the interest rate swap periodic item, tick on the checkbox of the periodic date and click Book/Unbook .
12. A popup appears, click Yes.
13. System will assign a trade ID after booking the periodic item in the structure.
14. Booking the IRS periodic item will generate cash flows in Back Office > Cash Settlement.
15. The booked Interest Rate Swap periodic item requires authorization and verification. To authorize or verify trades, click here.
16. To delete a periodic item in the IRS structure, click on the Edit button of the periodic item. The details will be populated in the fields below at the bottom of the page.
17. Then, click Delete. The periodic item will be deleted from the IRS structure.
18. Click Save to save the changes.
FREQUENTLY ASKED QUESTIONS
FAQ01. Can I insert principal exchanges in between the Interest Rate Swap structure?
Exchanges of principal in between the Interest Rate Swap structure is only allowed when the structure selected is a Ccy Loan Swap. See user guide on Currency Loan Swap.
RELATED INFORMATION
Pre-Termination of IRS Contracts
CHANGE HISTORY
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