What are my Pricing Index Options?

In this Article

• What pricing indices are available?
• How often are indices updated?
• How do I select or setup an index for a product?

What pricing indices are available?

• Ameribor
  • Source: American Financial Exchange (AFX)
    • Terms of Use
• US Treasury (Constant Maturity)
• Prime
• Federal Funds
  • Source: New York Federal Reserve
    • Terms of Use
• SOFR
  • Source: New York Federal Reserve
    • Terms of Use
• SOFR Averages
  • 1-month, 3-month, and 6-month arrears
  • Source: New York Federal Reserve
    • Terms of Use
• SOFR Swap Rates

  • If you'd like to start using SOFR swap rates, please contact Support or your Account Manager.

•  SONIA
  • Source: the Bank of England Public Database
    • Legal
    • Open Government License
• Term SOFR
  • 1-month, 3-month, and 6-month, 12-month
  • Source: CME Group

• Funding Curve
• Custom Funding Curve
• Custom Funding Index

How often are indices updated?

If not using a custom source, indices are updated according to the following the schedule:

• Ameribor
  • PrecisionLender updates Ameribor information at night, we update it with rates from the previous business day.
  • For example, when we receive funding curve information on Thursday night, we will be receiving rates from the business day on Wednesday; therefore, a lender that uses Ameribor on Friday will see the rates from Wednesday.
• Treasury and FHLB (if using Funding Curve as source)
  • PrecisionLender updates these rates at roughly 4:00 AM UTC, Monday through Friday.
  • PrecisionLender updates funding curve information at night, after the end of the same business day that Treasury and FHLB rates are published. These rates will display on the next business day that follows.
  • For example, when we receive funding curve information on Tuesday night the rates are from the business day on Tuesday; therefore, a lender looking at the funding curve during the business day on Wednesday will see the Tuesday rates.
• SOFR
  • The earliest available pricing date for SOFR is 6/7/19. SOFR is only available as an index.
  • When PrecisionLender updates SOFR information at night, we update it with rates from the previous business day.
  • For example, when we receive funding curve information on Thursday night, we will be receiving rates from the business day on Wednesday; therefore, a lender that uses SOFR on Friday will see the rates from Wednesday.
• SOFR Averages
  • Compounded averages of SOFR over rolling 30-, 90-, and 180-calendar day periods
  • When PrecisionLender updates SOFR information at night, we update it with rates from the previous business day.
• Term SOFR
  • Rates are published each morning and PrecisionLender will pull them at midnight that evening, so rates will be effectively one day behind.
• SONIA
  • The SONIA rate information is published the business day following the day that the rate is made publicly available by the Bank of England. Public availability of these rates comes following a 24 hour publishing delay, at a minimum.
  • For example, on Monday we receive and run Thursday’s rates to display on Tuesday. On Tuesday, we receive and run Friday’s rates to display on Wednesday.
• Federal Funds Rate
  • When PrecisionLender updates Federal Funds information at night, we update it with rates from the previous business day.
  • For example, when we receive index information on Thursday night, we will be receiving rates from the business day on Wednesday; therefore, a lender that uses Federal Funds rate on Friday will see the rates from Wednesday.
• These schedules may be affected by bank, national, or international holidays.

You can also check the Last Updated Date in the Standard Indices table in the Rates and Indices section of Administration.

How do I select or update an index for a product?

Index selections for each rate type are made in the product assumptions. 

One thing to note for Fixed Rate loans is that the index can be set at the product level and the regional level. 

• If you'd like a Fixed Rate index to apply to all products at a given region level, make your selection in the Funding Curve Family for Fixed Rate Spread Lock dropdown in the regional assumptions and in the product assumptions, leave Override Fixed Rate Spread Lock Funding Curve Family unchecked.
• If you'd like a Fixed Rate index for a product that is different from the regional assumptions, check Override Fixed Rate Spread Lock Funding Curve Family in the product assumptions and then make your index selection in the Fixed Rate Spread Lock Funding Curve Family dropdown that will appear to the right.