The business day convention used to adjust the payment stream's payment date. Used only to override the business day convention specified in the DateAdjustment component within the Instrument component.
0 = Not applicable
Business day convention is not applicable.
- 1 = None (current day)
2 = Following day
The following business day.
3 = Floating rate note
The FRN business day convention.
4 = Modified following day
The modified following business day.
5 = Preceding day
The preceding business day.
6 = Modified preceding day
The modified preceding business day.
7 = Nearest day
The nearest applicable business day.