fpml:periodicPayment

Specifies a periodic schedule of fixed amounts that are payable by the buyer to the seller on the fixed rate payer payment dates. The fixed amount to be paid on each payment date can be specified in terms of a known currency amount or as an amount calculated on a formula basis by reference to a per annum fixed rate. The applicable business day convention and business day for adjusting any fixed rate payer payment date if it would otherwise fall on a day that is not a business day are those specified in the dateAdjustments element within the generalTerms component. ISDA 2003 Term:

Element information

Content

• Sequence [1..1]
  1. fpml:paymentFrequency [0..1]    The time interval between regular fixed rate payer payment dates.
  2. Choice [1..1]
     • fpml:fixedAmount    A fixed payment amount. ISDA 2003 Term: Fixed Amount
     • fpml:fixedAmountCalculation    This element contains all the terms relevant to calculating a fixed amount where the fixed amount is calculated by reference to a per annum fixed rate. There is no corresponding ISDA 2003 Term. The equivalent is Sec 5.1 "Calculation of Fixed Amount" but this in itself is not a defined Term.

Attributes

Used in

• Type fpml:FeeLeg (Element fpml:feeLeg)

Sample instance

<periodicPayment>
   <fixedAmountCalculation>
      <fixedRate>0.007</fixedRate>
   </fixedAmountCalculation>
</periodicPayment>