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Syndicated Loan FpML Design (Proposal for FpML v5.6). Bhavik Katira, TenDelta Chair - Syndicated Loan Working Group. Syndicated Loan FpML Outline. Loan Asset Definitions Deal, Facility, Loan Contract, Letter of Credit Loan Servicing Business Events Loan Servicing Notifications - PowerPoint PPT Presentation
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Syndicated Loan FpML Design(Proposal for FpML v5.6)
Bhavik Katira, TenDeltaChair - Syndicated Loan Working Group
Page 2
Syndicated Loan FpML Outline
• Loan Asset Definitions– Deal, Facility, Loan Contract, Letter of Credit
• Loan Servicing Business Events• Loan Servicing Notifications
– Correctable Request Message– Embedded business event
• Loan Statement– Asset– Position– Party Profile
Page 3
Syndicated Loan FpML Outline (contd.)• Loan Trading Life Cycle
– Trade Capture– Trade Settlement– Trade Management
• General Process Management– Payments– Message Confirmation (for any message)– Retraction [Cancellation]
• Message / Business Event / Loan Trade / Hold– Hold
• Deal / Facility / Trade / Allocation / Party
Page 4
Loan Asset Definitions
• Deal & Facility– ‘Identified Assets’ (Instruments)– Main parties– Dates– Notional amounts– Rules
• Loan Contract & Letter of Credit– Standalone types (Not instruments)– Used to communicate outstanding borrowings
and accrual rates against facilities
Page 5
Loan Servicing Business Event• Business Event
– Generic (standalone) abstract type– Unique business event (business event id)– Events are applicable at different asset ‘levels’
– Generic business event management:• Release• Retraction
Page 6
Loan Servicing Notification
• Inherited from Correctable Request Message
• Used to communicate a single (embedded) business event
• Logical separation of notification and business event details
Page 7
Loan Statement
• Statements inherit from Correctable Request Message
• Point-in-time ‘statement’, communicates:– Deal– Facility– Loan Contracts– Letter of Credits– Current lender-specific positions in any of the
above• Also used to communicate Party Profile
Page 8
Loan Trading Life Cycle
• Loan Trade & Loan Allocation– Party Trade Identifier– Stand-alone trade structures
• Settlement events– Containers for settlement information
• Notifications inherit Correctable Request Message
Page 9
General Process Management• Payments
– Notification inherits Correctable Request Message
– No re-use of FpML payment types– Full payment (bank account) information– Payments can be made against one or more:
• Business Events• Loan Trades / Loan Allocations
• Message confirmation (via message id)• Retraction
– Message / Business Event / Loan Trade / Hold
Page 10
General Process Management (contd.)
• Hold– Used to publish the immediate halting of all
relevant (settlement) activity– Publishable by any party– Hold can be placed on:
• Deal / Facility• Trade• Allocation• Party• E.g. hold can be placed by an agent bank on a
facility (due to amendment processing)