Deutsche Bank has linked to The Depository Trust & Clearing Corporation's (DTCC) Loan/SERV Contract Reconciliation Service to enhance efficiencies, reduce errors and help automate the processing of syndicated loans.
DTCC’s Contract Reconciliation provides reconcilement for syndicated loans at all levels, from commitment and facility level down to individual contracts with all relevant transaction detail.
DTCC’s Loan/SERV is a suite of services that helps in automating and streamlining the processing of syndicated loans.
In 2008, DTCC introduced its earlier Reconciliation Service, which enabled agent banks and lenders to view and reconcile loans at a total commitment balance level; In 2009 Contract Reconciliation followed.
DTCC European Loans Product Management vice president Mathew Lewis said that Contract Reconciliation provides market participants with more than 30 new data fields such as information on interest rates, margin and fee calculation, drawn and unutilized balances, and payment-in-kind balance.