Undergoing Work
An updated version of the requirements document (v1.23) will be made available in the near future which will include a new business event:
- Pricing Change Event
(as well as updates to the L/C section as per previous meetings).
The pricing change events will enable agent banks to communicate margin changes, fee rate changes etc… against existing facility positions to lenders.
Business Working Group Update
Upcoming priorities as discussed in the last business working group meeting include:
- Cash flow object (including withholding tax representation)
- Lender position record (enabling market participants to represent and reconcile positions)
Market Update
An educational seminar has been organized for European loan market participants for 9 and 10 April 2008, in London. Loan working group representatives will be presenting updates of all design efforts carried out to date. This effort is part of an overall initiative to ensure acceptance of the FpML standards across both the US and UK loan markets.
If there are any working group representatives wanting more information about such activities then please get in touch separately (loanchair@xxxxxxxx).
Please continue to review the Last Working Draft of v4.4 of the FpML schema released last week and provide any feedback to the working group, where necessary.
Thanks,
BK