Through the Municipal CP Programme, Fairways Debt can manage ‘Municipal Commercial Papers’.
An Municipal CP Programme is a financial envelope which defines the global characteristics of the single certificates (including the maximum authorized amount of the program).
In Fairways Debt, the Municipal CP Programme’s Counterparty can be a Bank or an Internal Counterparty.
Classification in Fairways Debt
Transaction Nature is ‘FACILITY’.
Transaction Type is ‘MUNICIPAL CP PROGRAMME’.
The input form to create new Municipal CP Programmes contains the following fields (the detailed description of all the fields can be found in the Reference page).
|Maximum Outstanding Amount||Maximum authorized amount of all the bonds issued through the Issuing Program.|
|Borrower||Only entities in the current organization that the current user can manage.|
|Rate Type||Fixed or Floating. Information used for analysis computation purposes.|
The fields of the ‘Default Values’ section are used to pre-fill the input form when a new Certificate is booked.
The following default values are available for Municipal CP Programmes:
|Day Count Convention||Actual360 by default.|
|Adjustment||Following by default.|
|Payment Date Adjustment||Following by default.|
|In advance Interest Payment||Active by default. See Certificate of Deposit|
Municipal CP Programmes allow to book new Municipal Commercial Papers.
Life Cycle Actions
Municipal CP Programmes support any Life Cycle Actions:
Issuing Programs’ indicators are computed as follows:
- Single computation for each certificate of the issuing program
- Computation of the aggregated value (for example a sum, in the case of the ‘Outstanding Balance’ indicator).
|Clean Market Value|
|Equivalent Current Rate|
|Interest Rate Sensitivity (100 bp)|
|Mark To Market|
|Outstanding Balance (Start of Day)|
|Term To Maturity|
|Weighted Average Remaining Term|
|Accrued Fees at Period Start|
|Accrued Fees at Period End|
|Accrued Fees over the Period|
|Accrued Interest at Period Start|
|Accrued Interest at Period End|
|Average Outstanding Balance|
|Current Rate (30/360) at Period Start|
|Current Rate (30/360) at Period End|
|Effective Rate (incl. Fees)|
|Fees Paid over the Period|
|Financial Costs (incl. Fees)|
|Interest Paid over the Period|
|Outstanding Balance at Period Start|
|Outstanding Balance at Period Start (Start of Day)|
|Outstanding Balance at Period End (Start of Day)|
|Outstanding Balance at Period End|
|Principal Paid over the Period|