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MT 362 Field Specifications

46. Field 37M: Total Rate

FORMAT

Option M [N]12d (Sign)(Rate)

PRESENCE

Mandatory in conditional (see rule C1) sequence D

DEFINITION

This field specifies the total rate, that is, 37G Reset Rate + 37R Spread, of the calculation/compounding period starting with the 'period start date'.

NETWORK VALIDATED RULES

Sign must not be used if Rate is zero (Error code(s): T14).

The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40,T43).

USAGE RULES

Rate is expressed as a percentage.

In the case of a negative rate, Sign must be present. The absence of Sign means that the rate is positive.