Floating interest rate tenor
In setting up a floating rate note in deal management, you must specify the index (ex. LIBOR) and the Reset Rate Index Tenor (ex. Overnight, 1 Month, 6 Month).
For Automated Rate Resets, the Index and tenor is defined. Presumably the tenor of the rate index should match the Reset Rate Index Tenor in the deal.
However, when setting up the market rate definition, the tenor can only be entered as a number (ex. 1, 30, 180).
Does the 30-day tenor LIBOR rate update the rate in a deal that specifies 1 Month as the Reset Rate Index Tenor?
Does the 180-day tenor LIBOR rate update the rate in a deal that specifies 6 Months as the Reset Rate Index Tenor?