ACI
3I0-013 · Question #89
According to ISDA definitions, if an USD IRS payment is due value Saturday, 31 May and the documentation states that the"modified following business day convention"will be used, what value date…
The correct answer is A. Saturday, 31 May. See the full explanation below for the reasoning.
Question
According to ISDA definitions, if an USD IRS payment is due value Saturday, 31 May and the documentation states that the"modified following business day convention"will be used, what value date should be applied to the payment?
Options
- ASaturday, 31 May
- BTuesday, 3 June
- CMonday,2June
- DFriday, 30 May
How the community answered
(34 responses)- A71% (24)
- B9% (3)
- C15% (5)
- D6% (2)
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