RE: Loan WG Meeting: 4 August 2009, 1000-1100EST (London Time: 3-4pm)

["Bhavik Katira" <bhavik.katira@xxxxxxxxxxxx>]

Mazhar,

Thanks for your feedback. We will certainly look into each of your points
and publish responses back to the working group.

Regards,

Bhavik Katira
CEO

TenDeltaT
Fresh insight. Pure logic.

www.tendelta.com

+1.917.582.4574 new york
+44.(0).7780.808732 london

TenDeltaT 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.

TenDeltaT Limited is a company registered in England & Wales. The Company
registered number is 06285903. The registered office is 3 Francis Road,
Harrow, Middlesex, HA1 2QZ, United Kingdom.

-----Original Message-----
From: loanwg@xxxxxxxx [mailto:loanwg@xxxxxxxx] On Behalf Of Iqbal, Mazhar
Sent: Tuesday, August 04, 2009 9:03 AM
To: loanwg@xxxxxxxx
Subject: RE: Loan WG Meeting: 4 August 2009, 1000-1100EST (London Time:
3-4pm)

Hi,

 

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
 
 
Also I'd like to see if I can suggest a Commitment Adjustment Notice
layout since we'd like to start using one internally.  Looks like this
is planned for phase 5 but I'd like to put one forward soon.
 
 
Regards.
Mazhar.
 
 



________________________________

	From: loanwg@xxxxxxxx [mailto:loanwg@xxxxxxxx] On Behalf Of
Bhavik Katira
	Sent: Tuesday, August 04, 2009 12:18 PM
	To: loanwg@xxxxxxxx
	Subject: Loan WG Meeting: 4 August 2009, 1000-1100EST (London
Time: 3-4pm)
	
	

	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

	 

	TenDeltaT

	Fresh insight. Pure logic.

	 

	www.tendelta.com <http://www.tendelta.com/> 

	 

	+1.917.582.4574 new york

	+44.(0).7780.808732 london

	 

	TenDeltaT 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.

	 

	TenDeltaT Limited is a company registered in England & Wales.
The Company registered number is 06285903. The registered office is 3
Francis Road, Harrow, Middlesex, HA1 2QZ, United Kingdom.

	 


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