Financings

In order to finance a financing application, you will need a registered FVR in the system. Financing the FVR demonstrates that you have decided to extend financing to that application. Note that Secure Financing does not serve to facilitate the actual financing.

The Finance method updates the status of an existing FVR in the system from REGISTERED to FINANCED and returns a request identification. The financed FVR is still queried for by using the FVR’s original request_identification from Registration.

{
  "request_identification": "123e4567-e89b-42d3-a456-426614174000"
}

Updating the status of your FVR from registered to financed serves not only reflect that critical change for your own records, but also to any detected matches in the system. When an FVR is financed, the system will prevent against financing any FVR that is a DUPLICATE of the financed FVR. The status of such a duplicate FVR will be updated from REDU (Registered Duplicate) to DFIN (Duplicate Financed)

The FVR which is to be FINANCED must have a current status of REGISTERED. The system will prevent against calling this method against an FVR with a status of CANCELLED or FINANCED.

Financing can be carried out using several different identifiers:

• request_identification (finance all FVRs defined in this request)
• pool_identification (finance all FVRs defined in this pool)
• batch_identification (finance all FVRs defined in this batch)
• submitter_data_set_identification (finance this single FVR)

Financing can be carried out using one type of ID, but multiple of these IDs can be used, e.g. 3 batch IDs, but not 1 batch ID and one data set ID.

Request ID:

{
  "submitting_financial_institution_identification": "SWHQBEBBXXX",
  "financing_batch": [
    {
      "request_identification": "123e4567-e89b-42d3-a456-426614174000"
    }
  ]
}

Pool ID:

{
  "submitting_financial_institution_identification": "SWHQBEBBXXX",
  "financing_batch": [
    {
      "pool_identification": "AZN20200110"
    }
  ]
}

Batch ID:

{
  "submitting_financial_institution_identification": "SWHQBEBBXXX",
  "financing_batch": [
    {
      "batch_identification": "123e4567-e89b-42d3-a456-426614174000"
    }
  ]
}

Data Set ID:

{
  "submitting_financial_institution_identification": "SWHQBEBBXXX",
  "financing_batch": [
    {
      "submitter_data_set_identification": "123e4567-e89b-42d3-a456-426614174000"
    }
  ]
}

Multiple FVRs can be treated as a securitized unit for Financing, as in the Registration method using the batch_booking flag. FVRs that were denoted as part of a securitized unit at the point of Registration can be reclassified as independent using the batch_booking_override flag.

After submitting your request you should receive a 201 success response containing a request identifier.

201

{
 "request_identification": "123e4567-e89b-42d3-a456-426614174000"
}

Partial Financing

Note: This functionality is currently under development.

FVRs can also be partially financed. This can be achieved by including a financing request amount as part of the original registration request, or by including a financed amount as part of the financing request.

Data Set ID:

{
  "submitting_financial_institution_identification": "SWHQBEBBXXX",
  "batch_booking": true,
  "financing_batch": [
    {
      "data_set_identification": "9eb6ef55-fa62-41c1-86bf-b889db46114b",
      "financed_amount": {
        "currency": "USD",
        "amount": "95000.00"
      }
    },
    {
      "data_set_identification": "0696f569-f0c6-4d32-b72b-191bf93ef542",
      "financed_amount": {
        "currency": "USD",
        "amount": "20000.00"
      }
    }
  ]
}

In order to partially finance an FVR, the financing amount currency must match that of the documents contained in the FVR, as conversion between currencies is currently out of scope for the system. Any request to finance an FVR with a different currency will result in an error.

Financing amounts can also be submitted for sets of FVRs, e.g. pools or batches. This follows the same logic as above - all FVRs within the set must have the same currency as the specified partial financing amount. As such, pools or batches containing multiple currencies cannot be partially financed - only the full amount of the FVRs can be financed at the same time. The user may define new sets with these FVRs, grouping them by currency, to achieve partial financing of such sets.

In the case of successful partial financing of a set of multiple FVRs, the value of the financed amount will be distributed equally among the FVRs within the set.

Once an FVR is partially financed, any subsequent attempt to finance more than the remaining value of the documents in the FVR will be flagged as a duplicate financing attempt.

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