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3032
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9600
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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.