MT 320 Field Specifications

23. Field 14D: Day Count Fraction

FORMAT

Option D

7x

(Code)

PRESENCE

Mandatory

DEFINITION

This field specifies the number of days which are taken into account for the calculation of the interest.

This field specifies the Day Count Fraction as per ISDA definitions.

CODES

One of the following codes must be used (Error code(s): T36):

ACT/365	'Actual/365' or 'Actual/Actual' (28-31/365-6).
AFI/365	'Actual/365 (fixed)' (28-31/365).
ACT/360	'Actual/360' (28-31/360).
360/360	'30/360', '360/360' or 'Bond Basis'.
30E/360	'30E/360' or 'Eurobond Basis'.

EXAMPLE	February 2004:
ACT/365	29/365.
AFI/365	29/365.
ACT/360	29/360.