fpml:initialRate

The initial floating rate reset agreed between the principal parties involved in the trade. This is assumed to be the first required reset rate for the first regular calculation period. It should only be included when the rate is not equal to the rate published on the source implied by the floating rate index. An initial rate of 5% would be represented as 0.05.

Element information

Namespace: http://www.fpml.org/FpML-5/confirmation

Schema document: fpml-shared-5-5.xsd

Type: xsd:decimal

Properties: Local, Qualified

Content

xsd:decimal

Used in

Type fpml:FloatingRateCalculation (Elements fpml:floatingRateCalculation, fpml:floatingRateCalculation)
Type fpml:InflationRateCalculation via extension of fpml:FloatingRateCalculation (Element fpml:inflationRateCalculation)

Sample instance

<initialRate>0.01650000</initialRate>