Option B4!c/4!c[/2!n](Frequency) (Timing in Period) (Day)| Option B |
4!c/4!c[/2!n] |
(Frequency) (Timing in Period) (Day) |
Mandatory in an optional subsequence
This field specifies the interest payment schedule, with the frequency, timing of payments within each period and, where required, the day of the month in each period.
Frequency must contain one of the following codes (Error code(s): T03):
| MONT |
Interest is paid on a monthly basis |
| QUAR |
Interest is paid on a quarterly basis |
| SEME |
Interest is paid on a semesterly basis |
| WEEK |
Interest is paid on a weekly basis |
| YEAR |
Interest is paid on a yearly basis |
Timing in Period must contain one of the following codes (Error code(s): T04):
| BEGP |
Beginning of period |
| FBDP |
First banking day of period |
| ENDP |
End of period |
| LBDP |
Last banking day of period |
| OTHR |
On the day specified in Day (3rd subfield) |
Day must be present when Frequency contains the code 'MONT' and Timing in Period contains the code word 'OTHR'. It is not allowed in all other cases (Error code(s): T75).
When present, Day must contain a number between 01 and 31 (Error code(s): T05).
