Certificates of Deposit - Request

Please see the Legend to understand the conventions used to document each element and attribute. Note that for requests, the XML elements are documented in alphabetical order by parent element.

🟥 <inCD>

This is the root element of the request, and is required. This element contains child elements which specify the particulars of the requested CD. The following attributes of the <inCD> element are defined.

Attributes: 🔹BasisDays, 🔹CalcType, 🔹Compounding

🔹 BasisDays

If the Compounding frequency (see below) is based upon a daily method (e.g. daily, continuous, or simple), then the number of days in a year is specified with this attribute. If no value is specified, then 365 is assumed.

🔹 CalcType

The CalcType attribute informs the SCE which of the four basic variables involved in a CD is to be computed. The element corresponding to the variable being being solved for does not need to be present in the request (and if present, the value of the element will be ignored).

• getFutureValue - Enter the <PresentValue>, <Term> and <IntRate> to compute the CD's <FutureValue>.

• getPresentValue - Enter the <Term>, <IntRate> and <FutureValue> to compute the <PresentValue> that achieves the entered FutureValue.

• getTerm - Enter the <PresentValue>, <FutureValue> and <IntRate> to compute the <Term> required to achievee the entered data.

• getIntRate - Enter the <PresentValue>, <FutureValue> and <Term> to compute the <IntRate> required to achieve the entered data.

🔹 Compounding

The Compounding attribute defines the periodicity at which interest is computed. The specified compounding period affects the allowable values for the <Term> element's Units attribute.

The simple compounding frequency does no compounding of interest at all. Instead, interest is computed at the end of the CD’s term (much like a single payment note using a simple interest accrual method).

🟥 <DepositDate>

This element contains the date on which the amount of the CD is deposited and interest begins to accrue. All dates must be in the form of YYYY-MM-DD, and be 10 characters long. Hence, a deposit date of October 27, 2005 would be specified as <DepositDate>2005-10-27</DepositDate>.

Attributes: None

🟦 <Format>

The <Format> element is one of the first elements parsed from a request, as the attributes of this empty element affect how date and numeric values are parsed and validated.

Attributes: 🔹CurrencyDecimals, 🔹DateFormat, 🔹DateSeparator, 🔹DecimalSeparator, 🔹StrictDP, 🔹ThousandSeparator

🔹 CurrencyDecimals

When displaying and parsing Currency values, the value of this attribute determines the maximum number of decimal places allowed after the DecimalSeparator.

🔹 DateFormat

When displaying and parsing Date values, this field determines the expected format for all Date fields. The following DateFormat options are allowed:

• YMD - All dates should be formatted as YYYY-MM-DD.
• MDY - All dates should be formatted as MM-DD-YYYY.
• DMY - All dates should be formatted as DD-MM-YYYY.

Note that the character which separates the individual month, day, and year portions of the date is configurable via the DateSeparator attribute.

🔹 DateSeparator

When displaying and parsing Date values, this attribute determines the character used to separate the individual month, day, and year portions of a date.

🔹 DecimalSeparator

When displaying and parsing Currency or Decimal numeric values, this attribute determines the character used to separate the fractional part from the whole.

🔹 StrictDP

If the value of this attribute is true, then the SCE will strictly verify the number of decimal places allowed for currency input values. Thus, if the calling application sends in a request with a currency amount of 1000.005, the SCE will return an error code.

If the value of this attribute is false, then currency values sent in with an invalid number of decimal places will be rounded to the correct number of decimal places by the SCE (using five/four rounding), and a warning message with this information will be returned with the response.

🔹 ThousandSeparator

When displaying numeric values, this attribute determines the character used to separate the thousands places from the hundreds. Note that when parsing numeric values, the value of this attribute is ignored.

🟦 <FutureValue>

The future value is the amount that the CD is worth at the end of its term. The future value is equal to the present value plus all interest accrued during the term. If you are computing the future value (e.g. CalcType= "getFutureValue"), then leave this element empty or omit the element entirely.

Attributes: None

🟦 <IntRate>

This element dictates the rate at which interest accrues throughout the term of the CD. If you are computing the interest rate (e.g. CalcType= "getIntRate"), then leave this element empty or omit the element entirely.

Attributes: None

🟦 <PresentValue>

The present value is the amount which is deposited in the CD on the given deposit date. Interest accrues on this initial amount, much like interest accrues on the principal balance of a loan. If you are computing the present value (e.g. CalcType= "getPresentValue"), then leave this element empty or omit the element entirely.

Attributes: None

🟦 <Term>

The term element specifies the number of unit term periods after which the CD has matured. This numerical value can specify the number of days, months, or years which make up the term of the CD. To specify the units, please see the Units attribute below.

Also note that the value of this element is somewhat restricted given certain Compounding frequencies and Term Units. The table below will summarize the restrictions.

Attributes: 🔹Units

🔹 Units

This attribute specifies the units used for the CD's <Term>. The three options are: years, months, and days.