11.4.2.4 MM Borrowing with Fixed Bearing Interest

The preferences set for this product are as follows:

  • The payment type for this product is of Bearing type
  • Forward dating is allowed for the product.

BOOK: Booking a Borrowing with fixed bearing interest

The following are the accounting entries:

Table 11-48 Accounting Entries

Accounting Role Amount tag Dr./Cr. Indicator
FWDLIABGL PRINCIPAL_FWD Credit
FWDLIABOFF PRINCIPAL_FWD Debit

The following are the advices:

Table 11-49 Advices

Advice Name Description
MMBRKCON Broker Confirmation
MMCONDEP MM Borrowing Confirmation
MM_DEAL_SLIP Deal Slip
SWIFT_MESSAGE MT320, MT330, MT335, MT350
PAYMENT_MESSAGE Payment Message

INIT: Initiation of a Borrowing with fixed bearing interest

The following are the accounting entries:

Table 11-50 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
FRTAXC_EXP FRTAXC_AMT Debit
FRTAXC_PAY FRTAXC_AMT Credit
LIABGL PRINCIPAL Credit
CUSTOMER PRINCIPAL Debit
FWDLIABGL PRINCIPAL_FWD Debit
FWDLIABOFF PRINCIPAL_FWD Credit

The following are advices:

Table 11-51 Advices

Advice Name Description
MM_CONT_ADV Contract Advice
NA NA

ACCR: Accrual of interest

The following are the accounting entries:

Table 11-52 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
INTEREXP INTER_ACCR Debit
INTERPAY INTER_ACCR Credit

ROLL: Rollover

The following are the accounting entries:

Table 11-53 Accounting Entries

Accounting Role Amount Tag Dr./Cr Indicator
CUSTOMER INTER_LIQD Debit
INTER_REC INTER_LIQD Credit
ASSET GL INTER_ROLL Debit
INTER_REC INTER_ROLL Credit
ASSETGL PRINCIPAL_LIQD Credit
CUSTOMER PRINCIPAL_LIQD Debit
CUSTOMER PRINCIPAL_LIQD Debit
ASSETGL PRINCIPAL_LIQD Credit
CUSTOMER <Interest_Component>_LIQD Debit
Interest_componentREC <Interest_Component>_LIQD Credit
ROLL_WASH PRINCIPAL_ROLL Debit
ASSETGL PRINCIPAL_ROLL Credit
ROLL_WASH <Interest_Component>_ROLL Debit
Interest_componentREC <Interest_Component>_ROLL Credit

Additional Accounting Entries for Negative Interest allowed Product:

Table 11-54 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
Negative Interest CompREC Negative Interest Comp_ACCR Debit
Negative Interest CompINC Negative Interest Comp_ACCR Credit

There are no advices for this event.

LIQD: Liquidation

The following are the Accounting Entries:

Table 11-55 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
INTERPAY INTER_LIQD Debit
CUSTOMER INTER_LIQD Credit
CUSTOMER PRINCIPAL_LIQD Credit
LIABGL PRINCIPAL_LIQD Debit

Additional Accounting Entries for Negative Interest allowed Product:

Table 11-56 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
Customer Negative Interest Comp_LIQD Debit
Negative Interest CompPay Negative Interest Comp_LIQD Credit

The following are the advices entries:

Table 11-57 Advices

Advice Name Description
SWIFT_MESSAGE MT320, MT330, MT335, MT350
PAYMENT_MESSAGE Payment Message

VABM: Value Dated Amendment Booking

There are no accounting entries.

The following are the advices:

Table 11-58 Advices

Advice Name Description
MMAMDADV Amendment Advice
NA NA

VAMI: Value Dated Amendment Initiation

The following are the accounting entries:

Table 11-59 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
LIABGL PRINCIPAL_INCR Credit
CUSTOMER PRINCIPAL_INCR Debit

The following are the advices:

Table 11-60 Advices

Advice Name Description
SWIFT_MESSAGE MT320, MT330, MT335, MT350
NA NA

CAMD: Amendment

There are no Accounting entries.

The following are the advices:

Table 11-61 Advices

Advice Name Description
SWIFT_MESSAGE MT320, MT330, MT335, MT350
NA NA

REVN: Rate Revision

There are no Accounting and advices entries.

ROLL: Rollover

The following are the Accounting entries:

Table 11-62 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
CUSTOMER INTER_LIQD Credit
INTER_PAY INTER_LIQD Debit
LIABGL INTER_ROLL Credit
INTER_PAY INTER_ROLL Debit
LIABGL PRINCIPAL_LIQD Debit
CUSTOMER PRINCIPAL_LIQD Credit

Additional Accounting Entries for Negative Interest allowed Product:

For Rollover of Interest

Table 11-63 Accounting Entries

Accounting Role Amount Tag Dr./Cr. Indicator
LIABGL Negative Interest Comp_ROLL Debit
Negative Interest CompREC Negative Interest Comp_ROLL Credit

The following are the advices entries:

Table 11-64 Advices

Advice Name Description
MM_ROLL_ADV Rollover advice
NA NA