Prime rates table

The prime rate table identifies the prime interest rate for each financier by effective date. It is required to support variable interest financing. When a change to the bank rate is made, all affected debt notes will be updated accordingly.

1. At the Asset Management main menu, select Administration | Tables | Finance | Prime Rates. The Prime Rates display screen appears.
2. Click Change . The Edit Prime Rates change screen appears.
3. Click Add . The Edit Prime Rates change screen appears.
4. Fill in the fields as required.

   Effective Dateis the date the rate goes into effect. It can be a future date.

   Financieris the finance company or bank charging the prime rate. You can right-click in the field and select Prompt to select the finance company from a list.

   Prime Rateis the prime interest rate being charged on loans by the financier, to 5 decimal places.

5. Click Enter to save the prime rates.

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