The Bank Rate View contains these tabs:
The Bank Rates table is used to establish base rates or to change parameters governing base rates for the specified bank. The base rate is also called an index rate as it is used as an index for pricing variable rate loans such as credit cards.
This table also enables the user to capture the established base rates and assign effective dates to the base rates since the base rates fluctuate from time to time. This table displays the most recent base rate changes or requests for changes for the specified base code (which is identified by the Reference Number field). Effective date rate changes can only be entered for dates equal to or greater than the current processing date. The Future Rates tab shows any pending rate changes that have already been added. Users can then add new pending rate changes to the tab or change the rate that will go into effect for an existing rate record. If user does not want the index to change to specified rate on the date specified as per an existing record, that future rate record must be deleted and created again with the new date for the change or the date can be left the same and the rate that goes into effect on the date can be changed. These are the only changes that can be made on the future rate record.
This table can also be used to view the complete history of changes that have occurred on the specified bank’s base rates. The rate history transactions are displayed in ascending effective date order (oldest rate appears first). This screen is only for inquiry purposes and all the fields are display only.
Special Instructions
The Bank Number field is required to retrieve a list of existing Bank Rate records. The returned list is limited to Bank Rate records within the specified Bank Number.
Related Topic
This screen is used to view the complete history of changes that have occurred on the specified bank’s base rates. The rate history transactions are displayed in descending effective date order. This screen is inquiry-only. All fields are display only.
Special Instructions
The Bank Number field is required to retrieve a list of existing Bank Rate records. The returned list is limited to Bank Rate records within the specified Bank Number.
Related Topic
This table is used to capture base rates and assign effective dates to the base rates. This table displays the most recent base rate changes or requests for changes for the specified base code (identified by the REF NUM field). Effective date rate changes can only be entered for dates equal to or greater than the current processing date.
Special Instructions
The Bank Number field is required to retrieve a list of existing Bank Rate records. The returned list is limited to Bank Rate records within the specified Bank Number.
Related Topic