Retail Transaction Rates are the default interest rates used for retail term money deals. For each retail transaction rate you set up, you must specify the deal type, subtype, product type, amount, term, and effective date to which you want to apply the rate.

Use the Retail Transaction Rates window to enter or update retail transaction rates for your existing deals. You can apply the updated rate on either the effective date for the rate or the next rollover date for the deal.

Entering Retail Transaction Rates

Use the Retail Transaction Rates window to enter new retail transaction rates.

To enter a product rate

1. In the Retail Transaction Rates window, select a deal subtype and product type for the rate.

2. If you want to add a new rate, place your cursor in a blank row. If you want to update an existing rate, select the rate.

3. In the Curr field, select a currency for the rate.

4. In the Effective Date field, enter the date on which you want the rate to become effective.

5. In the Minimum Amount field, enter the minimum amount to which you want to apply the rate. In the Maximum Amount field, enter the maximum amount to which you want to apply the rate.

6. If you want to establish two rates for the same amount range, in the term field enter a unique term for the rate.

7. Enter either the interest rate or the interest period and margin for the rate.

8. Choose the Update Transaction Rates button. The Update Transaction Rates window appears.

9. If you want the rate to become effective on the next rollover date, check the Effective on Next Rollover check box. If you do not check this, the rate will be applied to all deals as of the Effective Date.

10. If you want to keep the principal and interest amounts constant for your existing deals, check the Keep PI Constant check box.

11. Choose the Submit Request button. A concurrent request enters your retail transaction rates.

Printing Confirmation Letters for Updated Retail Transaction

When you change a retail transaction rate, you can send the parties with whom you conduct retail term money deals a confirmation letter outlining the details of the rate change. Use the Retail Transaction Rates window to print the confirmation letters for rate changes. For more information on confirmation letters for retail term money deals, see: Printing Confirmation Letters for Retail Term Money Deals.

Prerequisite

• Set up default confirmation templates. See: Confirmation Templates.

To print a confirmation letter for an updated product rate

1. In the Retail Transaction Rates window, select the rate for which you want to print a confirmation letter. Choose the Print Letters button. The Print Confirmation Letters window appears.

2. Select the rate for which you want to print a confirmation letter. Choose Submit to launch the concurrent process and print the confirmation letter.