## PnL due to Resets

Subtype of Job RequestThis is the part of the

**described in PnL due exclusively to the impact of the actual resets between the given spot date (denoted as**

*PnL***) and the given horizon date**

*0***being different than what had been expected at**

*T*

*0*It is also part of the PnL Explain table PnLExplain Table that is produced in association with the key PnL Explain when a tradable is priced with the Advanced Pricing model input.

Specifically, it equals the hypothetical PnL that would have been produced under the assumption that all floating rate fixings before

**equaled the historical fixings in the supplied horizon market, while the fixings after**

*T***equaled the forward rates implied by today's curves, rather than the curves in the supplied horizon market.**

*T*It is calculated as the sum:

(Carry Surprise) + (Fwd Surp due to Resets)

where the two terms are described at Carry Surprise and Fwd Surp due to Resets

Plugging

**for the first term and**

*I - C***for the second, we get:**

*Fᵣ - F*I - C + Fᵣ - F

The remaining part of

**is given by PnL due to Curves**

*PnL*