LCH.Clearnet LLC - Banking System Upgrade
Clearing Members are advised that LCH.Clearnet LLC is upgrading its Banking system in May 2014, the confirmed implementation date will be communicated in due course; however Clearing Members should be aware of the following minor business process changes and banking reporting improvements that will be introduced.
Minor Business Process Changes:
- Timing of Interest payments related to Default Fund contributions;
- Accrual period and Payment date changes related to the interest on Member cash collateral balances;
- Changes to how SwapClear FRA Postings are reported;
- Changes to the processing of Coupon payments for securities collateral.
Banking Report Improvements:
- REP00019 - Overnight Cover Distribution
- REP00022 – Yesterday’s Cover Account Postings
- REP00022a - Today’s Non-Cover Account Postings
- REP00029 – Yesterday’s Postings Total
- REP00030 - Cover Calling Summary
- REP00032 - Member Default Fund
- REP00036 – Non Cash Collateral Holdings & REP00036a – SOD Non Cash Collateral Holdings
- I&A Invoice (REINVMR).TXT
- Statement of Account (RESMT01).TXT
- REP00017 – Daily Base Rates
- REP00017a – Client Deposit Rates
Full details of the changes can be found in the attached document.
If you have any questions related to the implementation please email Collateral Services on firstname.lastname@example.org.