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.
Scroll down to the Custom Indices section. Here, you will see the list of all custom indices that have been created for your institution. Select the box next to "Show Disabled Indices" if you would like to view indices that have been disabled.
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.
- Enabled
- If the "Enabled" box is checked, this index will be available for any product that has Custom Indices allowed as a rate type.
- Name
- You can change the name for this index by clicking in the "Name" field.
- Funding Curve Family
- 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.)
Note
Please make sure your Funding Curve Family's name does not match the name of the available Standard Indices in PrecisionLender.
- This is an overnight rate
- If you are creating an overnight rate, check the 'This is an overnight rate' box. Checking this box will hide the "Duration" field.
- Duration
- You can set a duration for this index in the "Duration" field.
Note
Once this duration is saved, you will not be able to edit the duration.
- Add an entry for today with a rate of
- 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.
Viewing Custom Indices on the Opportunity Screen
On the Opportunity screen while pricing a compatible product, you can view a list of Custom Indices when using an Adjustable or Floating Rate type. Selecting "All Custom Indices" in the Index list will display all available custom indices within your setup. If you have created a custom Funding Curve Family, they will be found within the custom Funding Curve name.
