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Hi Ann, We will be having a meeting next
week, we are working on a new version of the schema and have some updates due
this week. I will send an invite out so people
can put it into their calendars. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +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 Taylor, Ann Do we have a meeting scheduled for December? Thanks, Ann Ann Taylor ü Please
consider the environment before printing this email. From: loanwg@xxxxxxxx [mailto:loanwg@xxxxxxxx] On
Behalf Of Bhavik Katira Dial-in Details US: + 1 (888) 481 - 3032 Intl: + 1 (617) 801- 9600 UK: 0800 904-7961 Participant Code: 28413758 Feedback items from WG members: (Schemas named “xxx–GS.xsd” are associated
with the feedback items below) 1.
RolloverNotice - On the current contracts
section, rather than having a field called "loanContractChange" can
we follow similar convention we're trying to use elsewhere and have a field
that represents the direction of contract change…? So we would have the
field "loanContractChangeAmount" and
"loanContractChangeType" instead wrapped in a block called
"loanContractChange". We will need this concept since if we're
converting from PRIME to LIBOR we're actually reducing the PRIME contract
(without and paydowns). Going from LIBOR to PRIME means we're increasing
the PRIME contract (without any drawdowns). Also suggest changing the
amount to be a ParticipationAmount type. 2.
CommitmentAdjustmentNotice - For the
enumeration used to determine "Increase" or "Decrease" can
we define a generic type name that can be used in cases other than commitment
adjustment. For example we need to use it for balance change as
well. So instead of CommitmentAdjustmentTypeEnum could we call it
AmountAdjustmentTypeEnum. 3.
LcBalanceNotice - Can we add a field onto
the LC Balance Change notice to determine whether an increase or decrease is
taking place in similar way we've done for commitment adjustments…? We
could call this field balanceChangeType . The balanceChangeAmount field
then becomes an absolute number. 4.
DrawdownNotice - For the Drawdown notice can
we follow same convention as other notices and have ability to specify lender
share as well as global…? Therefore we should rename
"shareLoanContractAmount" to "amount" and also change the
type to ParticipationAmount. New Items: 1.
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…? 2.
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. +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 Updated schema attached: 1.
Comm. Adjustment: Introduced enumeration. 2.
General: Flag fields renamed
(FacilityRepayment.AdjustsCommitmentFlag, LoanContract.ConditionPrecedentFlag). 3.
General: ModificationFlag optional. 4.
General: Effective Date added to
FacilityNotice. Optional field. 5.
Rollover: Added an option for
FacilityRepayment vs Facility & LoanContract Repayment (to be discussed). 6.
Rollover: Conversion field captured at a
higher level in the structure. 7.
Rollover: Prior- and Current- loan contract
sections (renamed). Please take a look and provide
feedback. Regards, Bhavik Katira CEO TenDelta™ Fresh
insight. Pure logic. +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 Next Working Group Meeting:
17th November 2009: 1000-1100 EST (3-4pm GMT) Agenda, schema etc will be sent
prior to the meeting. Minutes from 3rd
November 2009 1.
Comm. Adjustment: Update the scheme for
Increase/Decrease to an enumeration. 2.
Comm. Adjustment: The amount field should be
an absolute figure (the enumeration defines the direction). 3.
Business question: What happens in the case
that a commitment adjustment is refused…? Does this affect the structure of the
notification we have created…? 4.
Business question: Should we capture a flag
to denote whether a commitment adjustment is mandatory from the borrower’s
perspective…? 5.
Business question: Should we capture a
‘schedule date’ (in the case where the adjustment is pre-defined)…? 6.
General design: All ‘flags’ should be named
consistently (we decided to maintain a –flag suffix). 7.
General design: Modification flag should not
be required in the Facility Notice section. 8.
General design: There was a discussion
around corrections. The working group agreed that there is effectively a window
within which modifications to existing business events can take place. But, if
the event has been processed and there has been cash movement then a correcting
event may need to take place. In this latter case, the eventId may need to be
different. To be discussed further… (current structure should still be able to
handle this scenario). 9.
General design: Move the effective date into
the Facility Notice section (the wg agrees that all facility business events
should have an associated effective date). 10.
Rollover: Some providers/agents may not be
able to provide full details of specific loan which have been repaid during a
rollover. WG members have stated that they may only be able to provide facility
repayment details in cases. The current loans in this scenario would be a set
of new loan contracts. Unfortunately, this would mean making the
loanContractRepayment (within the Repayment structure) optional. This, in turn,
brings up the question as to what kind of validation there will be around the
provision of loanContractRepayment details… This needs to be discussed further. 11.
Rollover: Conversion flag should be captured
at a higher level within the rollover message structure. 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. +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. ============================================================================== No virus
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