Exercise Seven - Interest application

Satinder Rawal answered on April 23, 2023 Popularity 1/10 Helpfulness 1/10

answer Exercise Seven - Interest application

Exercise Seven - Interest application

Comment

So far we have only made use of TEMPLATE level parameters in this contract. GLOBAL parameters are defined outside of contracts so we will not be dealing with them here, but INSTANCE parameters are worth looking at.

Exercise

In this exercise, you need to implement the application of interest once a month with a payment date that the customer can define. This should be an optional parameter. You should then instruct the movement of funds from the ACCRUED address to the DEFAULT address on the selected date.

We introduce two helper functions here to round values appropriately for application (2 decimal places) and accrual (5 decimal places) of interest.

parameters = [
    Parameter(
        name='interest_payment_day',
        level=Level.INSTANCE,
        description="Which day of the month would you like to receive interest?",
        display_name='Elected day of month to apply interest',
        shape=OptionalShape(NumberShape(
            min_value=1,
            max_value=28,
            step=1,
        )),
        update_permission=UpdatePermission.USER_EDITABLE,
    )
]
@requires(parameters=True)
def execution_schedules():
    selected_day = vault.get_parameter_timeseries(name='interest_payment_day').latest()
    interest_payday = selected_day.value if selected_day.is_set() else min(
        vault.get_account_creation_date().day, 28
    )
    return [
        (
            'APPLY_ACCRUED_INTEREST', {
                'day': str(interest_payday),
                'hour': '0',
                'minute': '1'
            }
        ),
        (
            'ACCRUE_INTEREST', {
                'hour': '00',
                'minute': '00',
                'second': '00'
            }
        ),
    ]
def _apply_accrued_interest(vault, end_of_day_datetime):
    denomination = vault.get_parameter_timeseries(name='denomination').latest()
    latest_bal_by_addr = vault.get_balance_timeseries().at(timestamp=end_of_day_datetime)
    incoming_accrued = latest_bal_by_addr[
        ('ACCRUED_INCOMING', DEFAULT_ASSET, denomination, Phase.COMMITTED)
    ].net
    amount_to_be_paid = _precision_fulfillment(incoming_accrued)
    # Fulfil any incoming interest into the account
    if amount_to_be_paid > 0:
        posting_ins = vault.make_internal_transfer_instructions(
            amount=amount_to_be_paid,
            denomination=denomination,
            from_account_id=vault.account_id,
            from_account_address='ACCRUED_INCOMING',
            to_account_id=vault.account_id,
            to_account_address=DEFAULT_ADDRESS,
            asset=DEFAULT_ASSET,
            client_transaction_id='APPLY_ACCRUED_INTEREST_{}_{}_CUSTOMER'.format(
                vault.get_hook_execution_id(), denomination
            ),
            instruction_details={
                'description': 'Interest Applied',
                'event': 'APPLY_ACCRUED_INTEREST'
            }
        )
        posting_ins.extend(
            vault.make_internal_transfer_instructions(
                amount=amount_to_be_paid,
                denomination=denomination,
                from_account_id=internal_account,
                from_account_address=DEFAULT_ADDRESS,
                to_account_id=internal_account,
                to_account_address='ACCRUED_OUTGOING',
                asset=DEFAULT_ASSET,
                client_transaction_id='APPLY_ACCRUED_INTEREST_{}_{}_INTERNAL'.format(
                    vault.get_hook_execution_id(), denomination
                ),
                instruction_details={
                    'description': 'Interest Applied',
                    'event': 'APPLY_ACCRUED_INTEREST'
                }
            )
        )
def _precision_accrual(amount):
    return amount.copy_abs().quantize(Decimal('.00001'), rounding=ROUND_HALF_UP)
def _precision_fulfillment(amount):
    return amount.copy_abs().quantize(Decimal('.01'), rounding=ROUND_HALF_UP)

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Tags: python

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Contributed on Apr 23 2023

Satinder Rawal

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Exercise Seven - Interest application

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