5.10.8 Manual Principal Reset Processing from UI

The system will fetch the contract reference of resettable CCS for Principal Reset and defaults all the values applicable for Principal reset from the contract details. Exchange rate defaults from the currency exchange rate maintenance, and the user are allowed to overwrite the same.

Based on the exchange rate of in leg and out leg currency, the change is principal is calculated, and the amount type is selected as increase or decrease. All fields except the exchange rate are read only from this new screen.

View the advices linked to the principal reset event from this screen, and the user is allowed to suppress any message if required.

Upon save of record new event principal reset DPRS triggers, and MT362 swift message generates detailing the reset principal amount. Payment of resettable leg will generate as per the SGEN days of resettable currency from the principal reset scheduled start date.

Reversal of Principal reset event after authorization is possible from this screen. A new principal reversal event DPRV fires generating Reversal swift message for MT 362. Payment message if already sent will also be reversed.

After a reversal of principal reset, the same contract reference is available for another principal reset event on or before the principal reset schedule date.

The transaction date be before or on the principal reset scheduled start date. Both Reversal and backdated operations of Principal reset are not permitted beyond the principal reset scheduled start date. Upon every schedule, principal reset the respective reset details are auto-populated to the explode of principal schedules at DV contract input screen. Events and messages generated can be viewed.