Additional Item to
add to the list below
12. New Request: Rate
Set Notices. In a rollover situation where we have multiple existing loan
contracts transforming to a new set of loan contracts, each of the contracts may
require a rate set notice to be created. At the moment the rate set notice is
not part of the rollover message. Is the expectation that the sender would need
to generate separate rate set notices for each loan contract ‘rolling over’ or
should we incorporate this workflow within the rollover structure
itself…?
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 & education services; specializing in the
Syndicated Loan Market. Entrusted with engineering innovative & logical
solutions; we endeavor to deliver timely, robust, cutting-edge
solutions.
Copyright ©2008-2009. TenDelta™ LLC (US),
TenDelta™ Limited (UK). All Rights
Reserved.
From: loanwg@xxxxxxxx
[mailto:loanwg@xxxxxxxx] On Behalf Of Bhavik Katira
Sent:
Tuesday, November 03, 2009 3:25 AM
To:
loanwg@xxxxxxxx
Subject: Loan FpML WG Meeting: 3 November 2009,
1000-1100EST (London Time: 3-4pm)
Dial-in
Details
US: + 1 (888) 481 -
3032
Intl: + 1 (617) 801-
9600
UK: 0800
904-7961
Participant Code:
28413758
Please refer to the
attached schema design.
Items to
discuss:
1.
Design Proposal: Introduction of a Commitment Adjustment
Structure.
a.
Review structure
b.
What business scenarios should it be used…? Is it simply
when there is a commitment change where no cash flow
occurs…?
c.
Agree that it should be used whether there is a decrease
or an increase.
d.
Change can be positive or negative…? Or should we have a
flag followed by an absolute amount…?
2.
Design Proposal: Should we introduce an ‘Effective Date’
in the facility notice section…?
3.
Design Proposal: Rollover
changes
a.
Added ‘effectiveDate’.
b.
Renamed ‘Maturing-‘ to ‘Prior-‘ and ‘New-‘ to
‘Current-‘.
c.
Introduced the ‘currentLoanContract’
structure
d.
CurrentLoanContract contains a optional choice which
contains either a DrawdownPayment, loanContractIncrease or
conversionFlag.
4.
Design Proposal: L/C Termination should contain the
change amount rather than the prior amount. More generically, should we be
capturing change amounts in all notices, rather than prior amounts…? (It was
mentioned in the last call that prior amounts are notoriously difficult to
extract in many cases).
5.
Design Proposal: Interest payment adjustment added to
InterestPayment structure. Should we capture this extra field to take into
account an adjustment from a previous period…? The other option is to capture
this in the new Cash Flow section and make it generic to all business
events.
6.
Design Proposal: Updated the LenderLoanContractPeriod in
the InterestAccrualSchedule to InterestLoanContractPeriod. This is to account
for the fact that the interest accrual may not be based on the actual lender
position. It may be based on a portion of the lender position. E.g. A repayment
occurs mid-accrual period and the interest relating to the repayment amount is
paid. When the interest payment is communicated, the underlying
InterestLoanContractPeriod, not the full lenders loan contract
position.
a.
Are we interest in knowing whether the
InterestLoanContractPeriod is actually the lender’s
position…?
b.
Should we represent both InterestLoanContractPeriod and
LenderLoanContractPeriod…?
7.
Confirm: Modification Flag in Facility Notice. There is
no way to tell multiple instances of a modification… is this an
issue…?
8.
Confirm: L/C contains amount and participation
amount.
9.
Confirm: Choice containing full deal structure in the
Facility Notice.
10.
Confirm: Contacts
structure.
11.
New Request: In the following scenarios should we expect
to send multiple messages out or come up with a combination message
type:
a.
Repayment with Interest
b.
Repayment and New Loan
c.
Multiple On-Going Fees, Interest Payments, Rate Fixes,
Margin Changes etc…
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 & education services; specializing in the
Syndicated Loan Market. Entrusted with engineering innovative & logical
solutions; we endeavor to deliver timely, robust, cutting-edge
solutions.
Copyright ©2008-2009. TenDelta™ LLC (US),
TenDelta™ Limited (UK). All Rights
Reserved.
From: loanwg@xxxxxxxx
[mailto:loanwg@xxxxxxxx] On Behalf Of Bhavik Katira
Sent:
Monday, October 19, 2009 6:19 PM
To:
loanwg@xxxxxxxx
Subject: No Loan FpML WG Meeting: 20 October
2009
All,
Unfortunately I have
a clash with this call for tomorrow and will be
travelling.
In the last few weeks
we have had feedback from working group members
regarding:
-
Increased flexibility with the Rollover Notice structure
– especially with respect to increases &
repayments.
-
Suggested updates to the Business Validations from the
business working group.
-
Suggested updates to the L/C
structure.
-
Suggested updates to the Interest Payment structure to
cater for the case where we have a partial interest payments,
mid-period.
-
The introduction of Contact
information.
-
Simplification of new vs modified messages using a flag
to denote the difference.
-
The introduction of a simple Commitment Adjustment
structure.
The feedback has been
great and we are expecting more, based on our last FpML
call.
A new copy of the
schema will be available as soon as the latest changes are in. We are waiting
for some feedback on a few design points – we expect it to be completed at some
point this week.
Please keep sending
in your comments as they relate to applying the standards to real-life
messages.
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 & education services; specializing in the
Syndicated Loan Market. Entrusted with engineering innovative & logical
solutions; we endeavor to deliver timely, robust, cutting-edge
solutions.
Copyright ©2008-2009. TenDelta™ LLC (US),
TenDelta™ Limited (UK). All Rights Reserved.
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