The Misys Summit Syndicated Commercial Lending module is an integrated, front-to-back loan system that supports agency, funding and trading functions. It uniquely integrates with its full suite of treasury and capital market modules to comprehensively cover fixed income, treasury and derivatives in a single system, thereby improving STP and reducing costs.

Coverage

• Loans – syndicated, bilateral, term and revolver
• Guarantees
• Letters of credit
• Multi-borrower, multi-lender, multi-currency
• Transactions supported include:
• • Single and multi-currency draw downs and rollovers
  • Fronted bank loans, swinglines, competitive bids
  • Letters of credit and bills of exchange
  • Ancillary facilities and discounted loans

Deal support

Summit is a highly flexible commercial lending system that allows virtually any loan deal structure to be created, with an unlimited number of facilities or sub-facilities per deal:

• Multi-layer structured deals are possible and can include many different facility types and transaction types
• Define effective, expiry, first and last drawdown dates as well as multiple borrowers, multiple lenders and limit structures
• Commitments with future reductions/increases, tranches, limits and sub-limits can be specified per borrower, lender, currency or a combination of each of the above
• Possible to allocate the bank's share among internal funding groups and establish parent-subsidiary relationships
• Designate a primary borrower if so desired
• Set individual parameters for each deal, borrower and lender e.g. fees and margins. Interest can be charged, tracked and accounted for with fees and interest capitalized or deferred.
• Automatically generate amortisation/repayment schedules
• Easy tracking of all activity across a particular loan or tranche i.e. all draw downs, rollovers and fees are instantly and easily identifiable
• Automatic calculation of fees e.g. utilization, commitment and facility fees
• All deal and trade types are supported from an accounting and documentation point of view

Risk analytics

Misys Summit includes a comprehensive risk management suite that analyses credit, market, settlement, position and liquidity risk plus mark-to-market and profit and loss.

• Counterparty exposures and replacement costs
• Calculations covering current MtM plus add-on, worst case exposure
• The ability to implement proprietary credit exposure calculations
• Netting at trade type, product type and agreement levels
• Exposure against limits based on counterparty, country, risk ratings, customer type, industry type or user-defined criteria

Workflow, control and audit

• Users can specify customised workflows from pending and authorisation through to add to watch list etc
• Access control is configurable by user and group
• Automatically generates confirmations, payment messages, account postings and reports
• An audit trail provides the user with version comparison of each amendment plus details of who made the change, the reason and the date/time