MT 620 Field Specifications

23. Field 14D: Day Count Fraction

FORMAT

Option D

7x

(Day Count Fraction)

PRESENCE

Mandatory in mandatory sequence B

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):

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

EXAMPLE

February 2004:

ACT/360	29/360.
ACT/365	29/365.
AFI/365	29/365.