VOLUME 21 - BULLETIN #54
TO:
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ALL CLEARING MEMBERS
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FROM:
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BUSINESS SYSTEMS GROUP
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DATE:
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February 28, 2001
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SUBJECT:
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Agency Contract Inventory and Invoicing Procedures
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Firms should be aware of the following when using the OTIS Delivery System to facilitate the delivery of Five-Year and Ten-Year Agency Note contracts.
Inventory Edit Tender Submission
To add Five-Year or Ten-Year Agency Note contracts to deliverable inventory use the following procedures. Input action code A (add) in the AC (action) field along with quantity, valid warehouse code, and maturity date then press ENTER. Once the Delivery System authenticates user input, the screen will update and automatically populate the Coupon Rate field starting with the lowest deliverable rate associated with the maturity date. Also, the field labeled Type of Note will contain one of the codes listed below to distinguish the type of note being delivered.
• A - Fannie Mae Benchmark Notes
• R - Freddie Mac Reference Notes
To change coupon rate or type of note, input action code M (change rate) in the AC field then press ENTER. Repeat this process until the deliverable coupon rate and correct type of note are displayed.
Invoicing System
To update a receipt list for a selected Agency invoice in the Invoice Preparation Screen use the following procedures. If the invoice is has an Invalid status, input action code C (change) in the A (action) field and a valid maturity date then press ENTER. Once the Delivery System authenticates user input, the screen will update and automatically populate the Coupon Rate field starting with the lowest deliverable rate associated with the maturity date. Also, the field labeled Type of Note will contain one of the codes listed above to distinguish the type of note being delivered. To change coupon rate or type of note, enter action code M (change rate) in the A field than press ENTER. Repeat this process until the deliverable coupon rate and correct type of note are displayed. The Update key PF10 must be used for changes to take effect.
Should you have any questions, please call or e-mail one of the following Business Systems Analysts:
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