WRITERS NOTE: assume the cancellation is basis-specific? should we say so? Can the basis you select affect multiple regulatory categories? Or is the lot making that filter?
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-level expected group loss transactions, identify the dummy asset ID used for collective-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-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:
|
ECL Method | 18053 | Displays the method that the system uses to process expected credit losses for the selected entity/accounting basis, as follows:
|
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, 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, Not LIkely Required to Sell. |
Other Information | ||
Transaction Notes | 56 | Contains user defined information about the cancel transaction. |
Sample Panel - Cancel Collective-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.
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