Table DDF_MATURITY_PAYMENTS		Description: Reinsured Sinking Fund Information
#	Column Name	Typ e	Description
F 1	#*REVENUE_KEY	C  20	Revenue source or obligor unique identifier
F 2	#*POLICY_NUM	C  20	Primary company's policy number assigned to a cession
F 3	#*CUSIP9	C  9	9 digit number assigned to specific issues of a debt obligation
F 4	#*PAYMENT_DATE	Date	Date on which the par amount of a debt obligation is due and payable
F 5	COUPON_RATE	N  10,6	Interest rate that the issuer promises to pay until maturity
F 6	YIELD	N  10,6	Rate of return to the bondholder
F 7	GAIN_RATE	N  10,6	Interest rate on a bond after the conversion date
F 8	ACTUAL_PAR_AMT	N  14,2	Current amount of par paid on the payment date. (Cab/Zero: Final accreted payment amount) (STF: Amount the Pool balance declines on the payment date)
F  9	ACTUAL_PAR_AMT_PV	N  14,2	For CAB/Zero: Present Value or Original Issue Discounted amount of the amount in F8. Otherwise same as F8.
F 10	DELTA_PAR_AMT	N  14,2	Difference : originally scheduled less F8 actual par payment F8 plus F10 yields the originally scheduled par payment amount. See Notes below for various examples.
F 11	BLANK_01	C 15	Blank Field (Reserved)
F 12	BLANK_02	C 15	Blank Field (Reserved)
F 13	BLANK_03	C 15	Blank Field (Reserved)

*** SPACE SAVING OPTIONS ***

No need to supply the full debt service schedule any longer – only the par payments are required.

(Exception: if the coupon rate is not available, supply the full debt service schedule as in earlier versions).

No need to re-supply a payment schedule that was included on a prior DDF delivery, unless the reinsurer specifically requests a "full" feed.

If the payment schedule is omitted, indicate that fact by setting Field C18 to 'N' in the DDF_MATURITIES table, so it will be known that the omission is not an error.

TABLE F - Notes on DDF_MATURITY_PAYMENTS table:

* DATA HANDLING PROCEDURES ***

Capital Appreciation Bond (CAB) /Zero Coupon types of maturities -

F6:    Yield will represent the factor to be used to Present-value the Accreted amount.

F8:    CAB/Zero: The amount to be paid on maturity date. If refunded, zero or the amount that remains to be paid at the maturity date.

F9:    CAB/Zero: The present value of the amount in F8 on the close date of the transaction using yield F6.

F10: CAB/Zero: If the CAB is refunded partially, the difference between the amount now in F8 and the amount that was originally in F8. (e.g. F8 + F10 = original payment par amount).

FOREIGN CURRENCY transactions – those where B4 (Policy's currency) is not U S Dollars:

F8, F9, F10: these amounts are to be expressed in the foreign currency. It will be the reinsurer's responsibility to convert to US dollars using whatever currency exchange rate prevails at the time they are calculating exposure or premium.

STRUCTURED FINANCE (STF) transactions:

Field F8 represents the actual amount by which the pool balance declined on the payment date. For dates in the future, the amount represents expected "payments" of the pool balance amounts. The full schedule of expected payments must be provided at the start of the reinsurance agreement.

Example: Here is a short ORIGINAL structured finance schedule with the following expected payments:

 2/14/99 F8 = 2000 F11 = 0

 3/14/99 F8 = 1000 F11 = 0

 4/14/99 F8 = 750    F11 = 0

 5/14/99 F8 = 250    F11 = 0

The pool balance on the close date, 2/1/99, is $4000.

STF adjustments for Primaries that keep track of pre-payments:

On 2/14/99, the pool was expected to be reduced by 2,000 but was actually reduced by 3,000 (the transaction prepaid early). This means there is only $1000 left in the pool. The schedule should show the actual payment and show how that remaining 1000 is expected to be paid out:
 

Option 1: Exactly box to the original and current payment schedule:

 2/14/99 F8 = 3000 F10 = Negative 1000

 3/14/99 F8 =  500  F10 = Positive 500

 4/14/99 F8  = 450  F10 = Positive 300

 5/14/99 F8  =   50 F10 = Positive 200

Note that:

The sum of F8 and F10 always results in the original schedule on any row.

The sum of F10 always equals zero: the deltas cancel each other out on the column of F10's.

The Totals of the remaining payments (F8, future) is still 1000

The totals of the original scheduled payments (both columns) is still 4000.

STF adjustments for Primaries that do not keep track of pre-payments:

Option 2: If the primary does not maintain future prepayments, then the actual O/S pool balances must be provided at the Maturity level: in field C15 and C16, table DDF_MATURITITES.

 Commercial Paper :  the C15 and C16 represent the utilization of the facility at the date of the DDF feed.

TABLE F - Notes on DDF_MATURITY_PAYMENTS (continued)

*** DATA HANDLING PROCEDURES ***

Partial or Full Refundings:

Fields F8 represents the Remaining Actual Par to be Paid on the Payment date

Full Refundings:

If the maturity is fully refunded, a flag and a date is present in the DDF_MATURITIES table,

Field F8 will contain zero. Field F10 will contain a positive amount equal to the original value of F8 that was refunded.

Partial Refundings:

The primary, at their option, can handle partial refundings in two ways:

Option 1: Show the remaining actual par amounts in F8, along with the refunded amounts expressed as positive amounts in F10 This option focuses on representing the future remaining amounts.

Option 2: Add maturity rows reflecting the date of the refunding and update the amounts in the original rows. This option is more precise and represents future remaining amounts as well as accurately representing the refundings when they occurred in the past

Example: Original Payment schedule:

 CusipA 2/1/98 F8 = $1000

 CusipB 2/1/99 F8 = $1500

 CusipC 2/1/00 F8 = $2000

Assume that each cusip was partially refunded by 500 per maturity on 2/1/97

   Option 1:

 CusipA 2/1/98 F8 = $500   F10 = +500

 CusipB 2/1/99 F8 = $1000  F10 = +500

 CusipC 2/1/00 F8 = $1500  F10 = +500

   Option 2: CusipA 2/1/97 F8 = $500  F10  = Minus 500

 CusipB 2/1/97 F8 = $500   F10 = Minus 500

 CusipC 2/1/97 F8 = $500   F10 = Minus 500

 CusipA 2/1/98 F8 = $500   F10 = +500

 CusipB 2/1/99 F8 = $1000  F10 = +500

 CusipC 2/1/00 F8 = $1500  F10 = +500

In both cases, the remaining Actual Par on 2/1/98 is the same ($3000).

Option 3: Just show F8 current fields if no history is kept.