DTCC’s Loan/SERV Reconciliation Service allows for the reconciliation of more than 333,000 global lender positions daily between agents and lenders around the globe.

Overview

DTCC’s Loan/SERV Reconciliation Service allows for the reconciliation of more than 333,000 global lender positions daily between agents and lenders around the globe

Who Can Use the Service

Any loan market participant can use the Loan/SERV Reconciliation Service.

Benefits

Delivers greater certainty to loan position records by enabling early identification of differences resulting from assignment and life-cycle event processing.

• Reduces incorrect accrual amounts resulting from position errors.
• Reduces adjustments in cash positions that need to be resolved after cash payments have been made.
• Provides lenders access to agent information, thus reducing telephone calls requesting data to resolve differences.
• Reduces back-office costs for agents and lenders by reducing the time spent on postsettlement issues.
• Builds the foundation for further automation in loan position maintenance.

How the Service Works

On a daily basis, Agents and Lenders can post:

• Commitment balances
• Every transaction
• Contract Level Information

Customized reporting allows for management by exception of all mismatches, and feedback can be provided between the parties to rectify the issue.

System security provides that market participants only have access to position details where the agent declares they are a lender of record.

For More Information

Contact us to find out more about Loan/SERV.