RedemptionAmountFormula

The rule defines the calculations that must be performed to determine the redemption fee associated with a withdrawal activity. Redemption fees can be applied to a withdrawal if the deposit has not yet matured at the time of withdrawal.

RedemptionAmountFormula Elements and Attributes
Element Definition Attribute Value and Description

<RedemptionAmountFormula>

Opening and closing tag for the rule.

FUNDFIELD

FUNDVALUE

Name of the field from the FundScreen where redemption fee is held.

01: Indicates that OIPA should charge redemption fee for the fund.

<MathVariables>

Opening and closing tag for math variable section.    

<MathVariable>

Repeatable element.   

Standard math variable configuration.

   

<MathIF>

Standard MathIF configuration.    

XML Example

<RedemptionAmountFormula FUNDFIELD="RedemptionFee" FUNDVALUE="01">
<MathVariables>
<MathVariable VARIABLENAME="RateLockDate" TYPE="EXPRESSION" DATATYPE="DATE">DepositRateLockDate</MathVariable>
<MathVariable VARIABLENAME="DepositEffectiveDateMV" TYPE="IIF" EXPRESSION="IsEmpty(RateLockDate)" DATATYPE="DATE">DepositEffectiveDate, RateLockDate</MathVariable>
<MathVariable VARIABLENAME="EffectiveDateMV" TYPE="EXPRESSION" DATATYPE="DATE">EffectiveDate</MathVariable>
<MathVariable VARIABLENAME="Duration" TYPE="FUNCTION" DATATYPE="INTEGER">DaysDiffOf(DepositEffectiveDateMV,EffectiveDateMV)</MathVariable>
<MathVariable VARIABLENAME="RedemptionAmount" TYPE="VALUE" DATATYPE="DECIMAL">0</MathVariable>
<MathVariable VARIABLENAME="RedemptionFactor" TYPE="VALUE" DATATYPE="DECIMAL">0.00</MathVariable>
<MathVariable VARIABLENAME="RedemptionDuration" TYPE="VALUE" DATATYPE="INTEGER">0</MathVariable>
<MathVariable VARIABLENAME="ShortTermRedemptionUnits" TYPE="VALUE" DATATYPE="DECIMAL">0</MathVariable>
<MathVariable VARIABLENAME="ReserveAdjustmentMoneyType" TYPE="VALUE" DATATYPE="TEXT">14</MathVariable>
<MathVariable VARIABLENAME="MoneyType" TYPE="EXPRESSION" DATATYPE="TEXT">DepositMoneyType</MathVariable>
<MathVariable VARIABLENAME="RedemptionDuration" TYPE="EXPRESSION" DATATYPE="INTEGER">Fund:RedemptionDuration</MathVariable>
<MathIF IF="(Duration &lt; RedemptionDuration) And (MoneyType &lt;&gt; ReserveAdjustmentMoneyType)">
<MathVariable VARIABLENAME="RedemptionFactor" TYPE="EXPRESSION" DATATYPE="DECIMAL">Fund:RedemptionFactor</MathVariable>
<MathVariable VARIABLENAME="RedemptionAmount" TYPE="EXPRESSION" DATATYPE="DECIMAL">DepositCashValue * RedemptionFactor</MathVariable>
<MathVariable VARIABLENAME="ShortTermRedemptionUnits" TYPE="EXPRESSION" DATATYPE="DECIMAL">DepositUnits</MathVariable>
</MathIF>
</MathVariables>
</RedemptionAmountFormula>

 

 

 

 

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