MT 340 Field Specifications

24. Field 14D: Floating Rate Day Count Fraction

FORMAT

Option D

7x

(Day Count Fraction)

PRESENCE

Mandatory

DEFINITION

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

For an ISDA Master (Type in field 77H = ISDA), this field specifies the Day Count Fraction as per ISDA definitions.

CODES

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

ACT/365	'Actual/365', 'Actual/Actual'.
AFI/365	'Actual/365 (fixed)'.
ACT/360	'Actual/360'.
360/360	'30/360', '360/360' or 'Bond Basis'.
30E/360	'30E/360' or 'Eurobond Basis'.
EXA/EXA	'Base Exact/Exact' as per September 1994 additives to AFB definitions or '1/1'.
OTHER	The Day Count Fraction is specified in field 72.