This code seems to operate on a pandas DataFrame `crifDf_local`...

This code seems to operate on a pandas DataFrame crifDf_local and performs a series of calculations and assignments to create several new columns in the DataFrame, based on certain conditions. Here's a detailed step-by-step explanation of what the code does:

1. Creating the TermRatio column:

The first section of the code computes a new column called TermRatio in the DataFrame crifDf_local using the np.where function. Here's the logic:

• If crifDf_local.Label1 is empty ('') AND crifDf_local.RiskType is equal to "Risk_Inflation", then:
  • The value of TermRatio will be calculated as crifDf_local.RemainingMaturity / crifDf_local.DaysToMaturity.
• Otherwise:
  • The value of TermRatio will be calculated as crifDf_local.RemainingTenorDays / crifDf_local.TenorDaysHigh.

After this, TermRatio is updated to replace any NaN values with 1.0. This is done using the replace method of pandas.

2. Creating the AllocationLow column:

The second part of the code creates another column called AllocationLow with the following logic:

• If crifDf_local.Type is equal to "single" OR crifDf_local.Label1 is empty (''), then:
  • The value of AllocationLow is set to 1.
• Otherwise:
  • The value of AllocationLow is computed as: [ \frac{\text{crifDf_local.TenorDaysHigh_y - crifDf_local.RemainingTenorDays}}{\text{crifDf_local.TenorDaysHigh_y - crifDf_local.TenorDaysLow}} ]

3. Creating the AllocationHigh column:

The value of the AllocationHigh column is calculated as: [ \text{AllocationHigh} = 1 - \text{AllocationLow} ] In other words, AllocationHigh is the complementary value of AllocationLow.

Summary of What This Code Does:

The code generates three new columns in the pandas DataFrame crifDf_local:

1. TermRatio: It calculates a ratio based on conditions involving the Label1 and RiskType columns. Any missing values (NaN) in this column are replaced with 1.0.
2. AllocationLow: It computes a value based on whether Type is "single" or Label1 is empty. If neither condition is met, it calculates a fraction based on tenor values.
3. AllocationHigh: It complements the AllocationLow column (totaling to 1 when summed with AllocationLow).

This code is likely used in a financial or risk-management context, where ratios are being calculated for allocations or maturity-related terms.