The External Loan transaction allows the Netting Center to settle a participants obligations for loan contracts with external parties.
To access Netting, click Netting on the CitiDirect navigation bar. The Netting Summary Form appears.
Click the Input/Modify Tab, and then click New. The Netting Detail Form appears. Note: Required fields are identified by a red asterisk ( * ).
In the Transaction Type field, click the drop-down arrow and select 07 - External Loan.
Participant ID/Name defaults to the ID to which you are entitled. If you are entitled to enter transactions on behalf of any other Participant ID, click the Library Look-Up button and select that ID.
Participant Name is automatically populated when Participant ID is filled using Library Look-Up. Note: Only Netting Managers can manually enter data into this field. Netting Participants must use the library look-up.
In the Currency field, click the Library Look-Up button and select a currency code.
In the Principal Amount field, enter the loan principal amount based upon the specified currency.
In the Interest Rate field, enter the loan interest rate.
In the Interest Amount field, enter the amount of interest to be paid on the loan.
In the Settlement Amount field, enter the settlement amount of the loan.
In the Maturity Date field click the drop-down arrow and select the maturity date from the calendar or use the date spinner.
In the Contract Date field, click the drop-down arrow and select the contract date from the calendar or use the date spinner.
In the Days Basis field, click the drop-down arrow and select the basis days.
The Include in Netting check box is selected. If you do not want to include this transaction in your Netting totals, clear the check box.
In the Discounted Loan field, select the check box to indicate a discounted loan.
In the Internal Transfer field, select the check box to indicate the transfer is from an account held at the same branch as the Netting Center bank accounts.
The Use System Bank Details check box is selected. If you do not want to use the previously defined bank details for the selected currency, clear the check box.
In the Billing/Account Period field, enter the date period.
In the Comments field, enter any additional information.
Click Submit to save and submit the Netting transaction for validation. The Netting transaction moves to the next step in the process defined by Flow Control requirements.
Notes:
To return to the Netting Summary Form, click Return to Summary.
To print the details of the current Netting transaction, click Print.
To clear the fields on the detail form, click Clear.