Date

29 Oct 2018

Attendees

Agenda

1) Use Case reminder

2) Where we are on our road map.

3) Open Action Items

4) JIRA Issues Review - https://jira.edmcouncil.org/projects/SEC/issues/SEC-7?filter=allopenissues

5) Todays content discussion.

SMIF OWL-UML

SKOS

RDF/S

6) For next week.

Proceedings:

SEC today:
EK has been working diligently through JIRA issues: down to 10, one of which is cued up.
SEC-60 in process now.
MoneyMarkets is gone, debtFoundations will be addressed this week.
after that, look at work done at StateStreet and clean up Bonds next.
TradedShortTermDebt has been promoted up a level
Changes to MoneyMarkets has been communicated to MB for input on 10/26/18. No comments received.
1. TermDeposits have been integrated with FBC, mainly to
fibo-fbc-pas-caa, with the accounts under DepositAccount (we now have
TransactionDepositAccount, with DemandDepositAccount as a child, and
NonTransactionAccount, with TimeDepositAccount as a child, which has two
children: TimeCertificateOfDepositAccount - with a CertificateOfDeposit
as a CashInstrument associated with the account, and
TimeDepositOpenAccount, with no associated instrument)
2. TradedShortTermDebt - moved up one level, to
SEC/Debt/TradedShortTermDebt, and the new prefix is fibo-sec-dbt-tstd
(moved TreasuryBill to BondsIssuerVariants, though).
3. REPOs - integrated with TradedShortTermDebt
4. LoanParticipationNotes - moved to AssetBackedSecurities (which was
renamed from AssetBacked), new prefix is fibo-sec-dbt-ab-lpn
Q: participation notes? ended up Derivatives
So, what remains in TradedShortTermDebt?
imports have been fully cleaned up.
BillOfExchange .../BankersAcceptance cleaned up, updated definition.
CommercialPaper: definition cleaned up. DiscountedComm.. and InterestBearingComm... are children
MoneyMarketInstrument: cleaned up definition
children: CommercialPaper, RepurchaseAgreeemnt, TreasuryBill
Action Item: pls review explanatory notes for RepurchaseAgreement (rather long).
Explanatory Note: "repo" should be "REPO" in all instances. needs more clean up, however; hence review request.
Explanatory note: Most repos are overnight transactions, with the sale taking place one day and being reversed the next day. Long-term repos - called term repos - can extend for a month or more. Usually, repos are for a fixed period of time, but open-ended deals are also possible. Reverse repo is a term used to describe the opposite side of a repo transaction. The party who sells and later repurchases a security is said to perform a repo. The other party - who purchases and later resells the security - is said to perform a reverse repo. While a repo functions like the sale and subsequent repurchase of a security, but the legal reality and the economic effect is that of a secured loan. This is a loan as the original owner retains the rights to the cashflows of the underlying security. Economically, the party purchasing the security makes funds available to the seller and holds the security as collateral. If the repoed security pays a dividend, coupon or partial redemptions during the repo, this is returned to the original owner. The difference between the sale and repurchase prices paid for the security represent interest on the loan. Indeed, repos are quoted as interest rates. A repo always pays interest at maturity i.e. there are no periodic interest payments.
JIRA-60 is the big one that remains. Much clean up of properties, many classes will need to be moved higher up in the model.

Decisions:

Action items