Creating and Editing Custom Indices

In the Rates & Indices section of the Administration page of PrecisionLender, you have the ability to create custom indices.

 

Viewing Custom Indices

First, log in to PrecisonLender. From the Dashboard, click on the "Administration" tab in the lower left corner. Then, click "Rates & Indices" on the left side.

Rates and Indices administration section

Scroll down to the Custom Indices section. Here, you will see the list of all custom indices that have been created for your institution.

 

Creating and Editing Custom Indices

Click "New" to create a new index as shown above, or click on the name of the index that you would like to edit or add an updated value to.

New index setup screen

  • If the "Enabled" box is checked, this index will be available for any product that has Custom Indices allowed as a rate type.
  • You can change the name for this index by clicking in the "Name" field.
  • You can create a Funding Curve Family for your Custom Index to use for pricing fixed rate spread locks. (See The Region Edit Screen to select the custom Funding Curve Family for Fixed Rate Spread Lock, and Setting Up Commercial Loan Products if you need to override the default funding curve family for fixed rate spread locks with the custom Funding Curve Family at the product level.)
  • If you are creating an overnight rate, check the 'This is an overnight rate' box. Checking this box will hide the "Duration" field.
  • You can set a duration for this index in the "Duration" field.

    Once this duration is saved, you will not be able to edit the duration.

  • To update the index with today's rate, enter the rate and click the "Add" button.
  • When you are done, click "Save" to keep the changes you made.