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 [email protected].