16.3.5 Exchange Rate Fixing Advice to Participant for New Drawdown

When you initiate a new drawdown for the borrowing customer, you can send an Exchange Rate Fixing Advice to the participant bank also. To recall, exchange rate is fixed only if the drawdown currency is different from the currency of the tranche under which is initiated or the account to which it is linked. The exchange is used for currency conversions.

All the fields (excluding Standing Instructions fields) available in the Exchange Rate Fixing Advice sent to the borrowing customer is available in this advice also. In addition, the following information is also be included.

• The name of the borrowing customer.
• The participant’s contribution in the currency of the tranche (Base Currency) under which the drawdown contract is linked.
• The participant’s contribution in the drawdown currency (Optional Ccy).
• Settlement Instructions like:
  • The name of the Beneficiary’s bank account number and address.

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.