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updated loan validation rules and examples
- To: <loanwg@xxxxxxxx>
- Subject: updated loan validation rules and examples
- From: "Marc Gratacos" <mgratacos@xxxxxxxxx>
- Date: Wed, 14 May 2008 09:45:02 -0400
- Cc: <valwg@xxxxxxxx>
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See updated version of the rules (.html) based on yesterday’s
input and zip with testcases. Please rename invalid-testcases.doc to
invalid-testcases.zip in order to get the xml files.
Best regards,
Marc
|
Title: FpML 4.4 Validation Rules - 2008-04-04
FpML 4.4 Validation Rules - Rules for Loan Messages
This is the Loan part of the validation rule set accompanying the FpML 4.4 Last Call Working Draft. The introductory section
in the validation section of the specifications contains background information and documentation for this page.
The rules contained on this page contain links to cut down versions of valid and invalid test cases. The cut down test cases
are non-normative and are provided for the purpose of documentation only.
Content
Namespace
http://www.fpml.org/2007/FpML-4-4
Preconditions
The Validation Preconditions only apply when specific rules reference them. The following preconditions are always to be executed
relative to the root of the FpML document being validated. The context of the rule is NOT carried through to the precondition.
Precondition: SameCurrency
(context: FacilityNotice)
(context: DrawdownNotice)
(context: InterestPaymentNotice)
(context: LoanContractRepayment)
(context: Repayment)
All instances of currency values within the context of this rule must be identical.
Precondition: MultipleInterestRatePeriod
(context: InterestAccrualSchedule)
More than one interestRatePeriod exist.
Precondition: MultipleLenderLoanContractPeriod
(context: InterestAccrualSchedule)
More than one lenderLoanContractPeriod exist.
Precondition: MultipleInterestAccrualPeriod
(context: InterestAccrualSchedule)
More than one interestAccrualPeriod exist.
Rules
Unique contexts:
Context:
LoanContract (complex type)
ln-1 (Mandatory)
currentInterestRatePeriod/startDate >= effectiveDate.
ln-2 (Mandatory)
If currentInterestRatePeriod/floatingRateIndex = PRIME then currentInterestRatePeriod/rateFixingDate = effectiveDate.
Context:
InterestRatePeriod (complex type)
ln-3 (Mandatory)
endDate >= startDate >= rateFixingDate.
ln-4 (Mandatory)
If mlaCost doesn't exist and interestRate and margin and allInRate exist, then allInRate = margin + interestRate.
ln-5 (Mandatory)
If mlaCost and interestRate and margin and allInRate exist, then allInRate = margin + interestRate + mlaCost
Context:
InterestAccrualSchedule (complex type)
ln-6 (Mandatory)
interestRatePeriod/startDate,lenderLoanContractPeriod/startDate, interestAccrualPeriod/startDate must be equal in each period.
ln-7 (Mandatory)
The [n]th interestRatePeriod/endDate must be the previous calendar day of the [n+1]th interestRatePeriod/startDate.
ln-8 (Mandatory)
The [n]th lenderLoanContractPeriod/endDate must be the previous calendar day of the [n+1]th lenderLoanContractPeriod/startDate.
ln-9 (Mandatory)
The [n]th interestAccrualPeriod/endDate must be the previous calendar day of the [n+1]th interestAccrualPeriod/startDate.
Context:
FacilityNotice (complex type)
ln-10 (Mandatory)
If facilityIdentifier/originalCommitmentAmount and facilityCommitmentPosition/loanContractPosition/loanContractIdentifier/originalAmount/amount exist, then facilityIdentifier/originalCommitmentAmount >= facilityCommitmentPosition/loanContractPosition/loanContractIdentifier/originalAmount/amount.
ln-11 (Mandatory)
If facilityCommitmentPosition/loanContractPosition exists, then facilityCommitmentPosition/currentAmount/shareAmount/amount >= the sum of all facilityCommitmentPosition/loanContractPosition/currentAmount/shareAmount/amount.
ln-12 (Mandatory)
If facilityCommitmentPosition/loanContractPosition exists, then facilityCommitmentPosition/priorAmount/shareAmount/amount >= the sum of all facilityCommitmentPosition/loanContractPosition/priorAmount/shareAmount/amount.
ln-30 (Mandatory)
If facilityCommitmentPosition/loanContractPosition/currentAmount/globalAmount and facilityCommitmentPosition/currentAmount/globalAmount/ exist, then facilityCommitmentPosition/currentAmount/globalAmount/amount >= the sum of all facilityCommitmentPosition/loanContractPosition/currentAmount/globalAmount/amount.
ln-31 (Mandatory)
If facilityCommitmentPosition/loanContractPosition/priorAmount/globalAmount and facilityCommitmentPosition/priorAmount/globalAmount exist, then facilityCommitmentPosition/priorAmount/globalAmount/amount >= the sum of all facilityCommitmentPosition/loanContractPosition/priorAmount/globalAmount/amount.
Context:
DrawdownNotice (complex type)
ln-13 (Mandatory)
noticeDate <= drawdownPayment/paymentDate.
ln-14 (Mandatory)
If loanContract exists, then drawdownPayment/paymentDate >= loanContract/effectiveDate.
ln-15 (Mandatory)
If dealIdentifier/creditAgreementDate exists, then loanContract/effectiveDate and drawdownPayment/paymentDate >= dealIdentifier/creditAgreementDate.
ln-16 (Mandatory)
If facilityCommitmentPosition/priorAmount/shareAmount exists, then drawdownPayment/shareLoanContractAmount <= facilityCommitmentPosition/priorAmount/shareAmount.
ln-17 (Mandatory)
If loanContract exists, then loanContract/amount/amount >= drawdownPayment/shareLoanContractAmount/amount.
ln-18 (Mandatory)
If loanContractIdentifier exists, then loanContractIdentifier/originalAmount/amount >= drawdownPayment/shareLoanContractAmount/amount.
ln-19 (Mandatory)
If drawdownEventType = RateSetEvent and loanContract exists, then loanContract/currentInterestRatePeriod/interestRate and loanContract/currentInterestRatePeriod/margin and loanContract/currentInterestRatePeriod/allInRate and loanContract/currentInterestRatePeriod/interestDayBasis and loanContract/currentInterestRatePeriod/indexTenor must exist.
Context:
InterestPaymentNotice (complex type)
ln-20 (Mandatory)
interestPayment/amount/shareAmount/amount must be equal to the sum of all interestAccrualSchedule/interestAccrualPeriod/shareInterestAccrualAmount/amount.
ln-21 (Mandatory)
interestAccrualSchedule/interestRatePeriod/interestRate and interestAccrualSchedule/interestRatePeriod/margin and interestAccrualSchedule/interestRatePeriod/allInRate and interestAccrualSchedule/interestRatePeriod/interestDayBasis and interestAccrualSchedule/interestRatePeriod/indexTenor must exist.
Context:
LoanContractRepayment (complex type)
ln-22 (Mandatory)
If loanContractIdentifier/originalAmount exists, then loanContractIdentifier/originalAmount/amount >= amount/globalAmount/amount.
Context:
Repayment (complex type)
ln-23 (Mandatory)
facilityRepayment/amount/globalAmount/amount must be >= the sum of all loanContractRepayment/loanContractIdentifier/originalAmount/amount.
ln-25 (Mandatory)
facilityRepayment/amount/shareAmount/amount must be >= the sum of all loanContractRepayment/amount/shareAmount/amount.
ln-26 (Mandatory)
If loanContractRepayment/amount/globalAmount exists, then facilityRepayment/amount/globalAmount/amount must be >= the sum of all loanContractRepayment/amount/globalAmount/amount.
Context:
RepaymentNotice (complex type)
ln-24 (Mandatory)
If facilityCommitmentPosition exists, then facilityCommitmentPosition/priorAmount/shareAmount/amount >= repayment/facilityRepayment/amount/shareAmount/amount.
Context:
OneOffFeeNotice (complex type)
ln-27 (Mandatory)
If feePayment/feeType = BreakageFee then loanContractIdentifier must exist.
ln-28 (Mandatory)
If feePayment/feeType = AssignmentFee then loanContractIdentifier must not exist.
Context:
OneOffFeePayment (complex type)
ln-29 (Mandatory)
paymentDate >= effectiveDate.
Deprecated rules
Removed rules
Attachment:
invalid-testcases.doc
Description: MS-Word document