16.3.1 Exchange Rate Fixing Advice to Borrower for New Drawdown

If the drawdown currency is different from the currency of the tranche under which it is initiated or the account to which it is linked, you would use the exchange rates maintained at your bank for the currency conversions.

You can send an Exchange Rate Fixing Advice to the borrowing customer when a new drawdown is initiated for the customer.

The following details are included in this advice.

• The reference number of the tranche to which the new drawdown loan is linked.
• The date on which the drawdown is booked in the system.
• The period for interest calculation.
• The Maturity Date of the drawdown

Note:

Maturity date is the rate fixing end date.

• The exchange rate used for the currency conversion.
• The currency (Base Ccy) of the tranche contract to which the new drawdown is linked.
• The Base currency equivalent of the amount in the drawdown currency.
• The drawdown currency (Optional Ccy)
• The drawdown amount, expressed in the optional currency.
• The following Settlement Instructions.
  • Acc with bank name and address.
  • The beneficiary account number at Account with bank.