Because of public holidays there will be some exceptions in invoicing during Christmas and New Year. Invoices for week 49 will be published on December 21st, they will be debited on December 23rd and paid on December 28th. Invoices for week 50 will be published on December 28th, they will be debited on December 30th and paid on January 4th. Invoices for week 51 will be published on January 4th, they will be debited on January 7th and paid on January 8th.
The second term of the collateral formula (m*(V1+V2)*P) is used as an estimate of the forward-looking component. The length of the forward exposure is approximately one day during the week but increases to three days on Friday since the amount of monitoring does not take place during weekends. The formula therefore counts with three days of exposure (m 3/7). During Christmas, this period will be at the most five days. Therefore, eSett will temporarily change the multiplier m to 4/7 between December 14th 2020 and January 10th 2021.