A couple of additional points raised:
- The margin value in the current interest rate period can be 0 or negative (use case: equity line of credit). The validation of a positive decimal validation should be removed from this field.
- The current interest rate period should always be required. The business group feels this information is ALWAYS available, even if it’s a drawdown request for which the rates have not been agreed.
Changes will be incorporated into the schema/validations.
Thanks,
BK
_____________________________________________
From: Bhavik Katira [mailto:bhavik.katira@xxxxxxxxx]
Sent: Wednesday, January 30, 2008 1:29 PM
To: 'loanwg@xxxxxxxx'
Subject: Business Validation Actions
A subsection of the loan working met today to discuss the structure of the business validation spreadsheet.
Bhavik Katira, Independent Consultant
Marc Gratacos, ISDA
Alex Poretsky, JPM
Henri Pegeron, DTCC
Shridhar Segu, DTCC
Robert Murray, Bank of America
Solomon Roytshteyn, Deloitte
The following actions were agreed.
1. We need to come up with two main deliverables:
a. Set of business validation rules (as structured in the excel format, sent out by Marc)
b. Set of positive and negative XML excerpts for each validation rule created in (a)
2. We will be splitting the task of creating the rules. The template to be used will be the one created by Marc. The tasks are split by the following:
a. Interest Payment – Marc Gratacos, ISDA
b. On-Going Fee – Shridhar Segu, DTCC
c. Repayment – Bhavik Katira, Consultant
d. Drawdown/Rate Set – Robert Murray, Bank of America
3. Task (2) is deliverable by midday on Monday, 4th Feb 2008. Everyone can send out their validations and either Marc or myself will consolidate them for approval by the working group.
4. XML examples will be tackled once the initial validation rules are defined.
I am attaching the initial template created by Marc as a starting point for everyone.
<<...>>
Thanks,
BK
Attachment:
validation_rules_loan_v2.xls
Description: MS-Excel spreadsheet