ISO 15022 Data Field Dictionary

MT518: (81) Field 92a: Rate

FORMAT

Option A :4!c//[N]15d (Qualifier)(Sign)(Rate)
Option C :4!c/[8c]/24x (Qualifier)(Data Source Scheme)(Rate Name)

PRESENCE

Optional in optional sequence E

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

O

VASU

N

 

C

Variable Rate Support

2

O

REPO

N

 

A

Repurchase Rate

3

O

RSPR

N

 

A

Spread Rate

4

O

PRIC

N

 

A or C

Pricing Rate

5

O

SLMG

N

 

A

Stock Loan Margin

6

O

SHAI

N

 

A

Securities Haircut

DEFINITION

This qualified generic field specifies:

PRIC

Pricing Rate

Interest rate to be paid on the transaction amount, as agreed between the counterparties.

REPO

Repurchase Rate

Repurchase rate used to calculate the repurchase amount.

RSPR

Spread Rate

Margin over or under an index that determines the repurchase rate.

SHAI

Securities Haircut

Haircut or valuation factor on the security expressed as a percentage.

SLMG

Stock Loan Margin

Percentage mark-up on a loan consideration used to reflect the lender's risk.

VASU

Variable Rate Support

Index or support rate used together with the spread to calculate the repurchase rate.

NETWORK VALIDATED RULES

The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length.

If Rate is zero, Sign must not be present.

USAGE RULES

In option C, Rate Name specifies the reference rate or basis rate on which a variable rate is based (ex: EONIA, EURIBOR, LIBOR, FEFUND, EURREPO).

Sign must be present when Rate is negative.

Except if notified differently in the rate definition, when used with format option A (:4!c//[N]15d), the rate must be expressed as a percentage, not as a decimal fraction (12% must be identified by 12, and not 0,12).

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