2024-02-16 Meeting notes
- Elisa Kendall
Date
Feb 16, 2024
Participants
@Elisa Kendall
@John Gemski
@Tahoe Blue
@Rob Warren
Scott Orchard
Discussion
Today we continued the discussion of FBC-317, to rationalize schedules and lifecycles. What we have had in FIBO at the top level, for schedules, is good, but not aligned with the lifecycle concepts, and then the lower level details are not regularized/normalized throughout the places where we use those concepts. The various schedules - for rate resets (repricing), rate calculations, payment calculations, changes in principal, etc. are not connected, and some are buried in interest rate swaps but should be moved up in the class hierarchy to be available across debt instruments. Some of the work with respect to the addition of contract lifecycle detail, as opposed to product or trade lifecycles, is now aligned but next steps include aligning the schedule detail with the contract lifecycle, among other things, and normalizing it across FIBO. Comparison with the same concepts in ACTUS, and adding synonyms where appropriate, is helping.
Jeff is working to fix some issues in the ACTUS demo so that he can generate examples for us