Cancel ECL Adjustments

In the Cancel ECL Adjustment panel, you can cancel any Expected Credit Loss (ECL) transaction. The panel allows you to query and cancel ECL transactions previously entered for an entity/basis. This allows you to eliminate incorrect transactions from Eagle Accounting. The ECL transactions can roll back and replay.

You can use this panel to cancel transactions for collective/group-level, ECL transaction adjustments entered through the Book ECL Collective panel as well as cancel asset-level ECL transaction adjustments entered through the Book ECL Asset-Level panel.

Related content

To cancel an asset-level ECL lot adjustment transaction to debt security lots:

In Accounting Center, in the left navigation pane, click Transactions > Adjustments > Expected Credit Loss Transactions > Cancel ECL Adjustment.
You see the Cancel ECL Adjustment panel.
In the Entity Information section, specify the entity and accounting basis associated with the adjustment you are cancelling.
In the Issue Information section, select the security associated with the adjustment you are cancelling.
For collective/group-level expected credit loss transactions, identify the dummy asset ID used for collective/group-level ECL accounting.
In the Cancel Information section, identify the lot adjustment you are cancelling and the cancel accounting date.
Complete the remaining options on the panel.
Click Submit.

Cancel ECL Adjustment Panel Options

In the Cancel ECL Adjustment panel, you can cancel the adjustment entry for expected credit losses (ECL) to debt security lots. This panel also allows you to cancel collective/group-level expected credit losses. Note that options may vary according to your selections.

Option	Tag	Description
Entity Information
Entity ID	1163	Specifies the unique identifier of the entity you are cancelling.
Entity Name	1164	Specifies the abbreviated name of the entity.
Accounting Basis	21	Specifies the accounting basis of the entity you are cancelling. The system can cancel expected credit losses for lots with an Accounting Basis of IFRS or GAAP.
Base Currency	86	Displays the base currency of the selected entity.
Regulatory Category	12387	Displays the regulatory category associated with International Financial Reporting Standards (IFRS) associated with the selected entity/accounting basis. You can cancel expected credit losses for lots with regulatory categories of: FVOCI/AC that have an ECL Method of Non-US Treatment. This applies to IFRS bases. AFS/HTM that have an ECL Method of US Treatment. This applies to GAAP bases.
ECL Method	18053	Displays the method that the system uses to process expected credit losses for the selected entity/accounting basis, as follows: Non-US Treatment. Identifies the accounting basis that follows IFRS regulatory treatments for Expected Credit Losses. US Treatment. Identifies the accounting basis that follows US GAAP regulatory treatments for Expected Credit Losses.
Issue Information
Query End Date	221	Specifies the end date for your results. The default is today's date.
Event Type	55	Displays the business intent of the transaction. For example, CXL_ADJ_ECL_GROUP, CXL_ADJ_ECL_ASSET.
Cross Reference ID	1233	Specifies the cross reference identifier associated with the security.
Issue Name	961	Specifies the name of the security.
Ticker	13	Specifies the system of letters used to uniquely identify the security.
Cross Reference Type	1234	Specifies the cross reference type associated with the security.
Instrument Type	11	Displays the security's investment type. For example, FI (fixed income).
Security Type	82	Displays the type of security.
Issue Currency	85	Displays the local currency of the security.
Cancel Information
Choose ECL Adjustment to Cancel	962	Allows you to select an ECL adjustment to cancel. The lookup displays a list of ECL adjustments that met your criteria. For each entry, you see a row with the columns, Fee Type, Sub Fee Type, Settle Date, Local Adjustment Amount.
Cancel Effective Date	35	Displays the cancel effective date.
Cancel Accounting Date	36	Specifies the cancel accounting date.
Monthly Accounting Date	4733	Displays the cancel monthly accounting date.
Target Event Type	502	Displays the target event type. For example, ADJ_ECL_GROUP, ADJ_ECL_ASSET.
Target Event ID	26	Displays the target event ID.
ECL Local	16990	Displays the value of the local Expected Credit Loss allowance.
Local to Base FX Rate	87	Displays the foreign exchange rate used to calculate the Base Loss Allowance. This is the local to base exchange rate.
ECL Base	16991	Displays the value of the base Expected Credit Loss allowance. The system uses the current local-to-base exchange rate to calculate the base allowance amount for ECL transactions where the security is foreign denominated.
ECL Stage	16988	Displays the Expected Credit Loss stage. This field appears only for long fixed income positions that have an ECL Method field value of Non-US Treatment (IFRS) with regulatory categories of FVOCI/AC. Options include Stage 1, Stage 2, and Stage 3.
Regulatory Intent	2921	Displays the regulatory intent for lots that have a regulatory category of AFS (Available for Sale). This field appears only for long fixed income positions that have an ECL Method field value of US Treatment (GAAP) with a regulatory category of AFS. Options include Intent to Sell, Likely Required to Sell, and Not Likely Required to Sell.
Other Information
Transaction Notes	56	Contains user defined information about the cancel transaction.

Sample Panel - Cancel Collective/Group-Level Transaction

In the following figure, you use the Cancel ECL Adjustment panel to cancel an ECL transaction entered for an entity/basis using the Book ECL Collective Level panel. The entity type is CXL_ADJ_ECL_GROUP.

Sample Panel - Cancel Asset-Level Transaction

In the following figure, you use the Cancel ECL Adjustment panel to cancel an ECL adjustment entered for an entity/basis and security using the Book ECL Asset-Level panel. The entity type is CXL_ADJ_ECL_ASSET.

Cancel ECL Adjustment panel - Asset-Level Transaction Cancellation