[ARCHIVE] Value for lendingRates in GetAccountDetail response

Archived 2023.12.18. Please refer to Version 1.28.0 of the Standards which includes a Candidate Standard section incorporating the consultation and feedback to Decision Proposal 306. 

Question

When the GetAccountDetail API is invoked, what value is the Data Holder (DH) expected to return for lendingRates field?    

Answer

The DH should return the lending rates specific to the negotiated account including the lending rate structure and all its contents as described in the BankingProductLendingRateV2.

Question

As a response to the GetAccountDetails call, under the BankingAccountDetailV2 response schema both lendingRate and lendingRates fields are classified as optional. Does this mean that the DH is not required to return values for the lendingRates field?

Answer

As per the Consumer Data Standards (CDS), if an account does not have any associated lending rates, and only has a single current effective rate, then it is acceptable for the DH not to return values for the lendingRates field. However, if the account does have applicable lending rates, then these must be exposed and cannot be omitted from the response.

See:

BankingAccountDetail schema and rate inclusions