FpML Issues Tracker

761: Loan payment structures lack [payer|receiver]PartyReferences

July 8, 2008









payment structures lack [payer|receiver]PartyReferences (interestPayment, feePayment) - so it is questionable whether the model meets the FpML principle of party neutrality.

Harry McAllister (BNPParibas)


  • mgratacos

    07/08/08 9:33 pm

    In my opinion, the principle of party neutrality relates to the fact that a processing system doesn’t have to look at the sender/receiver of the message in order to figure out the direction of the payment.

    I am not a loan expert but I assume that in the loan notices the direction of the payment is defined by the role that the party, whether it’s an agent bank or borrower,…

  • katirabh

    07/08/08 10:20 pm

    The direction of the payment is implicitly apparent from the message structure, which defines the business event.

    However, once we created the notice structures in Phase 1, it became apparent that a new more generic payment/cash flow structure needed to be introduced. It is planned that this structure can be “attached” to all notices and will contain a generic payer/payee, cash flow structure.

    The cash flow structure will also contain references back to the underlying business event(s) (one or more).

    The new cash flow structure it to be introduced in Phase 2 (FpML v4.5).

  • lyteck

    10/03/18 11:07 am

    Closing this issue as it pertained to version 4.5. Feel free to reopen if still an issue in version 5.x. Looking at the 5.10/5.11 schema, it appears all payments have a direction (reusing payer/receiver PartyReference) or a way to specify lender or agent PartyReference

    Lyteck/The FpML Team

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