CURVE_BUILD function

Actuarial Excel Addin

The CURVE_BUILD function builds a spot-curve object for downstream functions such as VT_CURVE, SR_CURVE, and PV_CF with method "curve". It returns a 2-row spill range: row 1 contains durations and row 2 contains adjusted spot rates.

See also: VT_CURVE SR_CURVE PV_CF

* : Required parameter

Parameters
Default
Description
date *
--
Curve date as an Excel date or parseable date text.
source *
--
Curve source: cia, uk-nominal, uk-real, or uk-inflation.
adjustment *
--
List of triplets (interval, a0, a1). The first element is a string interval: [t0, t1], [t0, t1), (t0, t1], or (t0, t1). For maturity t inside the interval, an additive adjustment is linearly interpolated from a0 (at t0) to a1 (at t1). If t >= max(t1), adjustment is 0.

Example
Result
curve_build(date(2026,5,12), "uk-nominal", C2:E4)
Applies piecewise linear additive adjustments -- from triplets in C2:E4 (interval, a0, a1) -- to the UK nominal spot rates of May 2026 (month end).

Notes
Description
Output shape
The function returns a 2-row array. It can also be consumed as its 2-column transpose by vt_curve and spot_rate_curve.
Date matching
For cia, date matching is exact. For UK sources, matching is by year and month only.
Interval syntax
Each triplet uses the interval brackets you provide: [ ] means inclusive and ( ) means exclusive at that bound.
Interval conflict rule
If two adjacent intervals overlap, resolution assumes the earliest interval excludes its endpoint.
Validation
Returns an error for invalid source, missing date row, malformed adjustment tuples, or malformed curve data.