16.4.7 Consolidated Interest Rate Fixing Advice to the Participant Bank

When you fix the interest rate on the new consolidated drawdown, you can send the Consolidated Interest Rate Fixing Advice to the participant bank just as you would send to the borrowing customer.

All the fields of the Consolidated Interest Rate Fixing Advice sent to the borrower are available in this advice. In addition, the following fields are included.

• Details of New Consolidated Advance
  • The name of the borrowed.
  • The amount contributed by the participant, expressed in the Base currency.
• Details of Original Advances
  • The original amounts contributed by each participant, in the Base currency.
  • The original amounts contributed by each participant, in the Optional currency.

Note:

If you have chosen the SWIFT media for sending the advice, then instead of the above mail format, the corresponding SWIFT message, MT644 is generated.