Loan FpML WG Meeting: 8 December 2009, 1000-1100EST (London Time: 3-4pm)

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New schema attached.

Agenda

1. AmountAdjustment introduced.

a. Used in the currentContracts section of the Rollover Notice.

b. Used in the Commitment Adjustment Notice.

c. Used in L/C Balance Change Notice. Removed Prior Amount to be consistent with other notices.

2. Created a new MarginRateChangeTypeEnum. Introduced into the MarginRateChange Notice to define whether the margin rate change is associated with the Cash or PIK margin.

3. Rate Set Notice with respect to Rollovers. If we make the drawdownPayment section optional then it only leaves the actual event types as a required field on the entire notice. Discuss design options…

4. Combination messages in a single structure. It is essential that any combinational messages are designed for the purposes of when the resulting message is a valid business scenario rather than for ‘volume’ reasons – discuss. E.g. If there are 10 interest payments then what is the value associated with combining the messages in a single ‘structure’ (if the header is not too ‘heavy’)…?

5. Cash flow message types. Initial design idea presented containing a standalone message which contains references to other business events. Let’s discuss this potential design.

a. Should we capture the individual business event amounts, together with the overall ‘net’ payment amount…?

b. Should there be multiple payments in multiple directions…? Party A pays X to Party B and Party B pays Y amount to Party A.

c. Should there be other parties involved in the payment/cash flow itself…?

We also need to discuss the next steps with respect to release timings. The FpML group is working towards 4.7 and simultaneously a 5.0 release. We are at a stage where we have made many changes to many notices (some of which are backwardly incompatible). It seems this would be a good point for us to move across to a 5.x release.

Regards,

Bhavik Katira

CEO

TenDelta™

Fresh insight. Pure logic.

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