15.6.15 Prime Increase Message

The system generates the Prime Increase FpML message for participants when additional borrowing is required for prime loans.

Prime Increase FpML message is generated only for the Drawdown contracts having Main Interest component with Rate Type as FLOATING. The system does not refer to the preference maintained for the box Prime Loan at Drawdown product preference. The system determines the Drawdown as Prime if Floating Rate Type of Main Interest component is attached with the Drawdown.

Prime Increase is a Drawdown Value-Dated Amendment Event (VAMI) in Oracle Banking Corporate Lending to increase the Drawdown amount (Borrowing amount). The system generates the Prime Increase message during Value Dated Amendment operation.

The Prime Increase message is same as the drawdown message. The latest Drawdown amount including the amount that is increased in the Value Dated Amendment operation is sent in the Prime Increase message. The Prime Increase FpML message is generated for the VAMB event.

The system sends floatingRateIndex value as Prime/Libor for the Prime Increase message. Agent Ref No is sent in the Prime Increase message if already available in the system, else Agent Ref No will be sent blank. Message Generation and Handoff processing follows the processing of Drawdown Advice.