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Status Shipped
Categories Requests
Created by Chris Hitch
Created on May 3, 2017

Correct Gain/Loss Accounting for Negative Interest Rates

Our support of negative interest rates is very basic. We provide the ability to enter a negative rate on deals but the income/expense accounts are determined by whether the deal is a borrowing or lending rather than if the interest product is positive or negative.

For example

  • Currently if it is a Borrowing – we post to interest expense, and if it is a loan we post to income.

  • They want,

    • if it is a negative rate on a borrowing, then post to income (not expense).

    • if it is a negative rate on an investment, then post to expense (not income).

  • Simple enough until you get to instruments which may change sign half way through the period

    • For example, Borrowing with qtly payment, but monthly rate sets +ve, -ve, +ve

    • Likely would require switch reversals if the net payment amount changed to a receipt in the second period, and then back to payment in the third period

  • Also would need to update GL’s for closeouts and unwinds (as these would assume borrowing has a balance in the accrued int expense account)

It’s another requirement that would support the business case for reversal accounting.

JIRA: AQT-37187, AQT-37260 AQT-37738

Work in
QNTM-E-1966 Negative Rate Postings - IRS
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