16.3.8 Split Renewal Exchange Rate Fixing Advice to the Participant Bank

When fixing the exchange rates for the split drawdown loans, you can send a Split Renewal Exchange Rate Fixing Advice to the participant bank also.

All the fields included in the Split Renewal Exchange Rate Fixing Advice sent to the borrower, are available in this advice as well. In addition, the following details are also included.

• Details of Original Advance
  • The name of the borrowing customer.
  • The participant’s contribution for the original loan. This is the Base currency equivalent of the drawdown amount.
  • The participant’s contribution for the original loan, expressed in the drawdown currency (Optional Ccy).
• Details of New Advances
  • The participant’s contribution for each of the new loans, in the base currency.
  • The participant’s contribution for each of the new loans, defined in the currency of the drawdown.
  • The maturity date for each new drawdown.

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.
• The Message Type for the Borrower Exchange Rate Fixing Advice is BORR_EXFX_ADV and for the Participant Exchange Rate Fixing Advice is PART_EXFX_ADV.