FpML Issues Tracker

737: ln-6 the term period is undefined

June 6, 2008

closed

Minor

Always

Validation Rules

Admin

mgratacos

Summary

In ln-6 the term period is undefined.

The term is not defined as an element nor a function, so it remains undefined and ambiguous. There is no element of that name in context.

The rule today is: " Context: InterestAccrualSchedule (complex type) ln-6 (Mandatory) interestRatePeriod/startDate,lenderLoanContractPeriod/startDate, interestAccrualPeriod/startDate must be equal in each period. "

There are many interpretations of this which look plausible. This will need to go back to the Loans WG to advise on the rule.

Notes:

  • katirabh

    01/27/09 5:15 am

    Within the scope of the InterestAccrualSchedule.

    The startDate field in the FIRST element of each of the following arrays MUST be equal to each other:

    – interestRatePeriod
    – lenderLoanContractPeriod
    – interestAccrualPeriod

  • matthewdr

    01/27/09 4:40 pm

    The proposed rule is barred by the FpML Architecture in section 2.3.9.3 “Ordering within repetitions”: http://www.fpml.org/spec/fpml-arch-3-0-wd-2/html/index.html#s2.3.9.3

    Reference to element()[1] (the first element) is incompatible with the FpML Architecture.

  • katirabh

    02/03/09 4:58 am

    The accrual schedule, by its nature, is a set of (time period) contiguous set of elements that define the underlying variables for calculating an accrual.

    Ideally, we would want to ensure that each of the set of elements has full coverage of dates and that each schedule starts and ends on the same set of dates.

    How should we go about validating this, given the inability to order within FpML…?

  • matthewdr

    02/24/09 2:10 pm

    If you want the first date, which is defined as the earliest, then just use the min() function on the candidate set of dates. Based on the comments so far, the solution would be:


    Context: InterestAccrualSchedule (complex type)
    ln-6 (Mandatory)
    (min(interestRatePeriod/startDate) eq min(lenderLoanContractPeriod/startDate)) and (min(interestAccrualPeriod/startDate) eq min(interestRatePeriod/startDate))

  • matthewdr

    02/24/09 3:48 pm

    Discussed at the VWG. Although the requirement was stated as “he startDate field in the FIRST element of each of the following arrays MUST be equal to each other:
    “, the VWG thought this needed verifying. Their expectation was that the dates must match for each period, not just the first period. There are existing examples of this that may be used.

  • matthewdr

    06/09/09 1:23 pm

    Discussed at the VWG today. This needs to verified with the Loans Working Group.

    Irina will inform the Loans WG of the choices.

  • rabad

    05/21/19 5:02 am

    The old ln-6 does not exist anymore, neither a similar rule then there is not any need to create a sample for it.

  • mgratacos

    05/21/19 6:24 am

    Rule doesn’t exist anymore.

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