Version Rollover

The process of rolling over a loan to a new version has been enhanced to allow better control over the amount and date of the rollover. Thus, the loan could have a different product in the next version.

The rollover amount can be controlled for each component, the extent to which it is liquidated, waived, or rolled over. Additionally, version rollover can be applied to both past and current dates. This is supported for both Bilateral and Syndicated loans.

Compounding Interest

New schedule type Compounding has been introduced in the drawdown product and drawdown contract screens. This supports compounding of interest and penalty on the Accrued amount.

When user select the compounding schedule for interest and penalty components, the system performs an upfront calculation and compounding. The system adds the Outstanding Principal amount with the Accrual amount up to the current date and modifies the basis amount for future accrual calculation. The system then updates the Interest component due accordingly.

Support for capitalization during manual payment

During manual payment, a new feature now allows you to capitalize specific components, such as interest or penalties, into a particular amount.

It involves delaying interest or penalty payments, which allows the unpaid interest or penalties to be added to the loan's outstanding principal balance for future repayment. This method applies to both bilateral and syndicated loans.

Component wise balance verification

The ECA Check Required has been enhanced at the component level for Bilateral and Syndication contracts. This allows you to control at both the product and contract levels.

Based on the values selected for each component at the product level, the settlement subsystem will populate values during contract creation.

The ECA Allowed field can be toggled (both checked or unchecked) for the components. Based on this selection, an ECA request to be generated for the borrower’s debit account.