15.6.9 Ongoing Fee Notice

The Ongoing Fee Notice is generated at the borrower level with one bulk message for a tranche and have all participant and global details. The message consists of one message for each participant and one message for the global details for the borrower. It is generated for:

• Initial fee capture at tranche level for non-adhoc (non USERINPUT type) fee components, either during generation of Position Update notice the first time using adhoc generation screen (systematic generation).
• Fee payment of non-adhoc fee components

The fees which are supported by Markit are:

• Letter Of Credit Fee
• Commitment Fee (fee based on the unfunded portion of the facility)
• Utilization Fee (fee based on the utilized/funded portion of the facility)
• Facility Fee (fee based on the entire commitment of the facility)
• Other Accruing Fee

You are required to map these fees to fee components in Oracle Banking Corporate Lending to facilitate the generation of notices. To generate the notice for fee details and send it for the first time to Markit, you need to maintain the message for BOOK/FBOK/FAMD event for tranche products. For generation of notice for fee payment, you need to maintain the message for FLIQ event for tranche products. The notice for new booking/fee capture does not include the fee payment details, while the notice generated for fee liquidation will.

If there are non-adhoc fee components added newly as part of fee capture or fee amendment, then the notice is generated for the FBOK/FAMD event. If non-adhoc fee components are defined during tranche booking itself and changes are done during fee amendment, then the system will suppress the notice generation for the FBOK/FAMD event. System suppresses the notice generation for any fee rate changes (FRFX) for non-adhoc fee components.

The system will suppress the notice generation for the adhoc fee components for the BOOK event if adhoc fee components have been captured as part of tranche booking or if there are no non-adhoc fee components for which payment is done as part of the FLIQ event. You can manually suppress the notice generation during tranche booking but not during fee amendment, fee liquidation and fee revision.

The message Ext Deal CUSIP/ISIN captured at the tranche level for the InstrumentId field in Deal Summary.