Deutsche Bank Taps DTCC's Contract Reconciliation service for Syndicated Loans

摘要

Deutsche bank has linked to the Depository Trust & Clearing Corp.'s Loan/SERV Contract Reconciliation Service, a second-generation suite of reconciliation services that aims to boost efficiencies and reduce errors by automating the processing of syndicated loans, according to DTCC. DTCC introduced its earlier Reconciliation Service in 2008, enabling agent banks and lenders to view and reconcile loans at a total commitment balance level. Contract Reconciliation, which followed in 2009, provides reconciliation for syndicated loans at all levels, from the commitment and facility levels down to individual contracts, with all relevant transaction detail, the utility says.