

DTCC’s Loan/SERV Reconciliation Service is a Web-based service that enables syndicated loan agents and lenders to reconcile loan commitments and transactions on individual loans. This allows both the agent and lender to view and reconcile their loan positions on a daily basis rather than periodically or after a scheduled payment date.
Any loan market participant can use the Loan/SERV Reconciliation Service.
Agents send details of commitment balances and transactions that change those balances, such as assignments or commitment reductions, to DTCC Loan/SERV on a daily basis. Lenders have a choice: they can view and download the agent information for their own processing or, they can provide data to DTCC for reconciliation.
When a lender chooses DTCC for reconciliation, the lender submits transactions and position balances to DTCC. DTCC compares the data against agent submissions and, via a Web interface, displays the differences online for both the agent and lender. If differences occur, the system allows both agents and lenders to highlight the erroneous records and communicate a proposed resolution.
For lenders who do not want the full reconcilement service, DTCC offers position reporting where a lender can view the agent position records and transactions online and notify the agent whether they agree or disagree with the current position. System security provides that market participants only have access to position details where the agent determines they are a lender of record.
Please contact Christopher Childs at (212) 855-2331 or cchilds@dtcc.com.
