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Do I need to populate Notional Amount Leg 2 when it is the same as Leg 1?

The notional amount of leg 2 should only be populated when relevant.

Question

It is understood that for all swap contracts - where relevant leg 2 fields will need to be populated - the Notional amount of Leg 2 (2.64) is also to be populated even if it has the same value as the Notional amount of leg 1 field. That is to say, for a single notional swap (such as an IRS), the Notional amount of Leg 1 (2.55) would be the same value as the Notional amount of leg 2 (2.64).

Please advise if this is not the case.

 

Answer

No, the notional amount of leg 2 should only be populated where relevant. Please note it is an optional field and can be left blank, e.g. in the case of simple IRS (not cross-currency)