Add interest base rate type - instant

Use case

With the example of the Riksbank Reference Rate we will show how to add an interest base rate type with instant rate application rule to the Tuum system.

Use case data	API parameters with values
We will add the Riksbank Reference Rate base rate.	{ "rateBaseCode": "Riksbank Reference Rate", "maturityTypeCode": null, "maturityLength": null, "currencyCode": "SEK", "referenceRateTypeCode": "RIX_RR", ... }
The base rate is applied to the existing loan offers and contracts periodically.	"rateApplicationRule": "INSTANT"
The 4eye confirmation for the the rate fixings is required.	"fourEyeRequired": true

The rateApplicationRule parameter can have the following values:

• INSTANT - base rate requires contracts mass update after the new fixing rate is added.

• PERIODIC - the base rate has a defined contract floating period.

• NONE - the base rate type does not require contracts update.

Sample API call

To add new base rate types, use the following endpoint:

https://currency-api.sandbox.tuumplatform.com/api/v1/base-rates/types

Learn more about the add base rate type endpoint in the Tuum developer portal.

Sample request

Below is an example request body of the API call for adding a new base rate types.

JSON

{
  "rateBaseCode": "Riksbank Reference Rate",
  "maturityTypeCode": null,
  "maturityLength": null,
  "currencyCode": "SEK",
  "referenceRateTypeCode": "RIX_RR",
  "rateApplicationRule": "INSTANT",
  "fourEyeRequired": true
}

cURL

Sample response

Below you find an example response body to the API call above.

Response

{
    "errors": null,
    "validationErrors": null,
    "data": {
        "rateBaseCode": "Riksbank Reference Rate",
        "maturityTypeCode": null,
        "maturityLength": null,
        "currencyCode": "SEK",
        "referenceRateTypeCode": "RIX_RR",
        "rateApplicationRule": "INSTANT",
        "fourEyeRequired": true
    }
}

Result

As a result, the Riksbank Reference Rate month rate with an instant application rule is added to the Tuum system.