5.7.1 Confirm Interest and Principal Schedules

The interest and principal schedules (for FRAs/ Single / Cross-currency swaps) defined for a derivative contract would typically be confirmed by the counterparty involved in the contract. In Oracle Banking Treasury you can capture the details of each such confirmation received.

The details that need to be confirmed have to be entered in the Confirmation screen, available under the Derivatives Menu in the Application Browser.

The schedule details about the contract are automatically populated in the Confirmation screen upon authorization of the contract.

The following details are displayed in the screen:

Table 5-45 Confirmation - Field Description

Field	Description
Schedule Date	The date on which a particular component falls due.
Component	The various principal and interest components for which the confirmation is being processed. The components displayed depend on the rate type associated with them. All the components for which the rate type is fixed are displayed. In the case of a floating rate type, only those components that have undergone a rate revision will be displayed.
Amount	The amount due to each schedule. If you have opted for netting at the contract level, the amount displayed will be netted, provided the components due for settlement are in the same currency and have the same schedule date. The components are always netted against the main component, specified for the In Leg of the contract. The netted amount is displayed against the main component.
Currency	The amount due to each schedule will be settled in the currency is displayed.
Pay/Receive	Indicates whether the components are payables or receivables. The value displayed may be: O (Outgoing/Payable), or I (Incoming/Receivable)