8.3.7.3 Split Rollover with Increase in Principal Amount
Oracle Banking Corporate Lending allows you to do the rollover of the special amount exceeding the current outstanding amount of the parent contract. During the rollover process, system checks if the sum of the split amount exceeds the outstanding amount of the parent. System initiates a value dated amendment process to increase the principal amount to the extent of the additional amount to be disbursed to the borrower. This value date of the amendment is the rollover date.
Amount Tag | Debit / Credit | Account |
---|---|---|
PRINCIPAL_INCR | Debit | SYND_POOL |
PRINCIPAL_INCR | Credit | Customer |
Amount Tag | Debit / Credit | Account |
---|---|---|
PRINCIPAL_INCR | Credit | Customer |
PRINCIPAL_INCR | Debit | SYND_POOL |
Example
If the outstanding amount at the time of rollover is USD 100,000 and Sum of Split Amount USD 150,000.
Oracle Banking Corporate Lending passes the value dated amendment for USD 50,000 value dating the maturity date of the parent contract.
Note:
When the rollover is captured with increase (by increasing utilization for the child contract) then, the system re-calculates the PIK amount and same is displayed in the PIK Amount in both split rollover and consol rollover.Rate Setting
To set the rate setting rules for the Splitrollover, click the Rate Setting button in the Split Rollover screen and invoke the Rate setting screen.
Contract Details
Table 8-4 Contract Details
Fields | Description |
---|---|
Product code | The system displays the product code. |
Contract Ref number | The system displays the contract ref number. |
User ref number | The system displays the user ref number. |
Customer | The system displays the customer name. |
Facility name | The system displays the facility name. |
Split Details
Table 8-5 Split Details
Fields | Description |
---|---|
Split number | The system displays the split number. |
Principal roll amount | The system displays the principal roll amount. |
Interest roll Amount | The system displays the Interest roll amount. |
Roll Product | The system displays the roll product. |
Total roll amount | The system displays the total roll amount. |
Maturity date | The system displays the maturity date. |
Interest rate rounding rules
Table 8-6 Interest rate rounding rules
Fields | Description |
---|---|
Rounding rule | Select the rounding rule from the adjoining drop down list.
Select one of the options listed below:
|
Rounding Unit | The rounding unit enables only if the you have selected the rounding rule as Down and Upto. |
Interest rate period | Select one of the interest rate periods from the options
given.
Note the following. Once all the Rate setting rules are maintained and when you come out of Rate Setting Rule screen by clicking OK button, following override message is displayed.
|
Parent topic: Specifying Details for Split Rollover