In Fairways Debt, extensions increase the initial term to maturity of the transaction. You can extend a transaction at any time during its term to maturity.
Note: This procedure only applies to extendable interest rate swaps (IRS).
Navigate to the Debt & Derivatives Application
- Log in to your Fairways Debt account.
- Select a customer account.
- Navigate to Applications > Debt & Derivatives.
Extend an Interest Rate Swap (IRS)
- Open an extendable IRS.
- Navigate to Life Cycle.
- Click Extend.
- Complete the form with all relevant details.
Note: Fields marked with an asterisk * are mandatory.
Field | Description |
---|---|
Trade Date | Timestamp of the extension. The maturity date must be later than the trade date. |
Maturity Date | New maturity date of the transaction, must be later than the initial maturity date. |
Extended Interest Rate | New interest rate. |
Premium | Premium paid for the extension. |
Currency | Currency in which the premium is paid. |
- Click Apply to extend the transaction.
The extension displays...
... and updates the time frame...
... and schedule.