What options can I choose for refinancing certificates in the Budget Report?
If you generate the Budget Report with Certificates, there are different options for how to refinance them. Below are the various alternatives you can choose:
Repayment at maturity
Refinancing is not calculated; certificates with maturity dates expire.
Refinance with interest rate scenario and existing implicit margin
The existing implicit margin is calculated as follows:
Certificate yield minus the Ibor3m rate that applied two days before the certificate's start date.
The certificate is refinanced at 3-month intervals over the reporting period.
Refinance with interest rate scenario and margin
Interest rate scenario and a user-selected margin are used for refinancing.