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Babylon Ladder CSV Specification

A Babylon ladder is simply a record of fixed-rate term deposits. We could just as easily have called it a TermDepositSet or TermDepositList.

The reason we use the word ladder is that investors often structure a group of term deposits into a cash ladder — deposits of similar size but staggered maturities (for example, 1 year, 2 years up to 5 years). When the resulting cashflows are plotted over time, they resemble the rungs of a ladder — hence the name.

This idea is similar to a bond ladder, but because bonds are already covered in the Babylon Segment, we simplify the terminology here and just use the single word ladder.

Required Columns:

  • Ladder: The name of the ladder, constant across all rows.

  • AccountAlias: A free form text to name the account in a human friendly way (no spaces allowed, use underscores if necessary) A common convention is to use the account provider and the end date or end month/year. Examples would be Aldermore-Sep28, NS&I-Aug27 etc.

  • Type: The type. Use Income if coupons are paid at the end of the period, use Accumulation if the coupons are reinvested at the fixed rate and paid at maturity.

  • Principal: The principal amount invested. Decimals without thousand separators are preferred.

  • CouponRate: The fixed rate on the deposit expressed in absolute terms; for example, a coupon of 4.2% would be represented as 0.042.

  • StartDate: The deposit start date.

  • MaturityDate: The maturity date when the principal and last coupon (and accumulated coupons) are paid.

  • Frequency: Frequency of the coupon payment. 1M for monthly, 3M for quarterly, 6M for semi-annual and 12M (or 1Y) for annual.

  • Currency: The currency of the principal and coupons.

Optional Columns:

  • Daycount: The daycount associated with the fixed rate. Available values are ACT/360, ACT/365F, ACT/ACT(ICMA).

  • PaymentCalendar: The payment calendar.

  • PaymentConvention: The payment dates business day convention. Available values are MODFOLLOWING, FOLLOWING, PRECEDING, and MODPROCEDING

  • Comments: Free form text field for user suppiled comments.

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