PB-08 — Income Schedule

The forward calendar of contractual or expected income payments on an instrument — the coupon stream of a bond, the dividend stream of an equity — held as dated reference data.

Specialises: E-02 Instrument / Asset. The income schedule is an attribute of the instrument, not an event in its own right; PB-08 is the structure that carries the forward-known payment calendar that PB-01 and PB-02 reference. Where PB-07 Corporate Action records an income event when it occurs, PB-08 is the projection of those events before they occur.

Purpose

A bond’s coupons are contractual and known at issue; an equity’s dividends are expected and forecastable from declared and historical policy. Several capabilities need that forward stream as data, not as a sequence of past events: income accrual (a bond accrues interest daily against the next coupon), cash-flow forecasting (SD-09.7 needs the projected receipts), fixed-income performance attribution (the income return is a distinct component), and liquidity planning. PB-08 materialises the schedule as one row per expected payment, so those computations join to dated rows rather than re-deriving the calendar each time. It is the bridge between an instrument’s static terms (PB-02’s coupon_rate, coupon_frequency) and the actual income events PB-07 records.

Attribute schema

Column	Type	Definition
`income_schedule_id`	varchar	Primary key — one row per scheduled payment.
`instrument_id`	varchar (FK → E-02)	The instrument the payment is on — a PB-01 listed equity or PB-02 debt instrument.
`income_type`	varchar	`coupon` / `dividend` / `amortisation` / `principal_redemption`.
`period_start_date`	date	The start of the accrual period this payment covers.
`period_end_date`	date	The end of the accrual period.
`scheduled_payment_date`	date	The date the payment is scheduled to be made.
`rate`	float	The coupon rate or declared dividend rate for the period.
`amount_per_unit`	decimal	The expected payment per unit / per share held.
`currency`	char	The payment currency.
`is_projected`	boolean	`false` for a contractual coupon known at issue; `true` for a forecast equity dividend or a floating-rate coupon not yet reset.
`reset_rate_observed`	float	For a floating-rate coupon — the reference rate once observed at the reset date; null until then.
`schedule_status`	varchar	`scheduled` / `confirmed` / `paid` / `cancelled` / `superseded`.

Notes

For a fixed-rate bond the whole schedule is is_projected = false and known from issue_date to maturity_date — a deterministic materialisation of PB-02’s coupon terms.
For a floating-rate bond the schedule dates are known but each amount_per_unit is projected until the reference rate is observed at the reset date; reset_rate_observed is populated then, and the row moves toward confirmed.
For an equity every row is is_projected = true — a forecast from declared and historical dividend policy — until the dividend is declared, at which point it firms up. The declared dividend then becomes a PB-07 Corporate Action of event_type = cash_dividend.
A schedule row is superseded, not deleted, when terms change (a coupon step-up triggers, a dividend is cut) — consistent with the model’s append-only, archive-not-delete stance and its bi-temporal design.
The actual receipt of a scheduled payment is processed as a PB-07 event and a Cash Flow Event (E-06); PB-08 is the expectation, PB-07 the realisation.

Out of scope

The actual receipt of a scheduled payment — that is a PB-07 Corporate Action and a core E-06 Cash Flow Event; PB-08 is the expectation, PB-07 the realisation.
The static instrument terms the schedule is derived from — those are PB-02’s coupon_rate / coupon_frequency and PB-01’s dividend attributes; PB-08 materialises them as dated rows, it does not own them.
The generic instrument record PB-08 specialises — that is E-02 Instrument / Asset; the income schedule is an attribute of the instrument, not an event in its own right.
Dividend-forecast confidence and source tracking — named as an open extension; the entity carries only the is_projected flag.

Owned and consumed by

Owned by: SD-13.1 Instrument & Security Master.
Populated via: SD-13.4 Market & Reference Data Management.
Consumed by: SD-09.7 Private-Markets Cash-Flow Forecasting (the public-markets income schedule contributes to forecasts for funds holding public-debt and dividend-yielding portfolios), SD-09.2 Performance Attribution (income return), SD-12.7 Income & Distribution Processing, SD-08.1 Security Pricing (accrued-interest calculation), SD-11.2 Liquidity Management.

Open extensions

The relationship between a projected equity dividend row and the declared PB-07 Corporate Action that confirms it.
The floating-rate reset sub-model — the reference-rate observation that fixes a projected coupon.
Dividend-forecast confidence / source tracking, distinguishing declared, consensus and model-forecast rows.