I will not be able to attend todays
FpML call but wanted to provide some more feedback on the servicing events:
Prepayment Notice
==============
The Scheduled and Mandatory/Voluntary repayments use
the same message but I don't see anything that allows us to distinguish between
the different types (don't think Refusal Allowed is for this purpose). Am
I missing the flag that is used to differentiate?
LC Termination
Notice
================
The requirements document specifies
that we should have the "Prior Amount" on the event. This is important sine the "Current
Amount" will always be 0. However, the 4.6 LCWD schema does not
have this field. Is this an
omission on the schema?
LC Amendment
Notice
================
The schema requires the "Prior
LC". What is the reason for this
and should it be an optional field instead?
Rollover
Notice
===========
I wanted to understand how to model
the following features if they are supported, or what our plans are for
addressing them since I could not see them on the scope section of the
requirements doc.
Roll Into Existing
Contracts
----------------------------------------
On contract maturity roll into an
existing contract. Currently the
rollover event only allows rolling over into a brand new contract. Are we going to support this? Would it require an additional section
on the rollover for "Upsized" contracts with LoanContractSummary identifying
them?
Conversion on
Rollover
---------------------------------
If the rate index of the contract
being rolled into differs from the original then we probably want to flag this
as a conversion. We could have a
standard rollover and conversion taking place if the contract is being
split.
Mid Contract
Conversion
------------------------------------
Also
a conversion can take place mid contract which results in some (or all) of the
contract principal moving to another contract. The contract being moved to may already
exist or may need to be newly created and it's the rate index that would differ
from the original contract (e.g. LIBOR to PRIME conversion). In this case we need to identify the
date on which the conversion is taking place since it's not contract
maturity. We also need to know how
much is being converted from the original contract
Dial-in
details:
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Participant Code:
28413758
Agenda
-
Review trade structure updates from the latest
requirements document.
-
Attached: Business requirements document –
v1.39.
-
Attached: Updated schema to match v1.39
requirements.
Please rename the attachment from .mail to
.zip
Regards,
Bhavik Katira
CEO
TenDelta™
Fresh
insight. Pure logic.
www.tendelta.com
+1.917.582.4574 new york
+44.(0).7780.808732 london
TenDelta™
provides business process consulting, technology design/implementation &
education services, specializing in the Syndicated Loan Market. Entrusted with
engineering innovative & logical solutions, we endeavor to deliver timely,
robust, cutting-edge solutions.
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