 Option B |
4!c |
(Type) |
Mandatory in mandatory sequence A
This field specifies the event in the life of the loan/deposit.
Type must contain one of the following codes (Error code(s): T93):
| CONF |
This is the first confirmation. |
| MATU |
This is a confirmation of the liquidation of a fixed loan/deposit. |
| ROLL |
This is a confirmation of a mutually agreed rollover/renewal with/without change in the principal amount and the interest to be settled or added/subtracted from that amount. |
When the confirmation of a loan/deposit is sent for the first time CONF is used with field 22A = NEWT. To amend or cancel this confirmation CONF is still used and field 22A must contain either AMND or CANC.
When the loan/deposit is renewed (rolled over) for the first time, ROLL is used with field 22A = NEWT. To amend or cancel this rollover ROLL is still used and field 22A must contain either AMND or CANC.
Any subsequent renewal must be confirmed the same way as the first rollover: ROLL is used with field 22A = NEWT. To amend or cancel subsequent rollovers, ROLL is still used and field 22A must contain either AMND or CANC.
When the loan/deposit is reaching its maturity without being rolled over, MATU is used with field 22A = NEWT. To amend or cancel this maturity message, MATU is still used and field 22A must contain either AMND or CANC.
As an overview: the right sequence of using the code words in the life cycle of the deal is:
1. Start of the loan/deposit:
NEWT/CONF (mandatory) followed by: AMND/CONF (optional) or CANC/CONF (optional)
2. Renewal of the loan/deposit (the following is repeated as often as needed during the life of the loan/deposit):
NEWT/ROLL (mandatory) followed by: AMND/ROLL (optional) or CANC/ROLL (optional)
3. Termination of the loan/deposit:
NEWT/MATU (mandatory if maturity function is used) followed by: AMND/MATU (optional) or CANC/MATU (optional)
