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Subsystem of foreign exchange managing
Introduction
Prevailing demand for quick and accurate transfer of information has led to demand for connecting different computer networks and different technologies of data processing. The size of banking networks has directed the development of information systems towards new technologies. The classic technologies of data processing on host platform are being abandoned, and a number of computer networks in the country and the world are connecting through SWIFT technology, the Internet for connecting banks in the world, and the Intranet for connecting branch units and banks inside the bank system. Project solutions are based on real data and solutions that are used in practice according to the principle quick information-satisfied user.
Foreign exchange managing
Foreign exchange managing is performed through instruments of payment flow: Money order, Credentials, Collection documents, Checks and Guarantees that are backuped by payment flow warrants.
Subsystem of foreign exchange managing includes processing of warrants for input and output of funds from the bank's foreign exchange accounts.
Warrants that are used for processing of input of funds from abroad:
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Warrants that are used for processing of output of funds abroad:
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Processing of input and output of funds
Processing of input and output of funds in foreign exchange managing is backuped by the subsystem of foreign exchange in the scope of IS bank. The speed and error excluding are main conditions for bank's efficiency. Having in mind the set goal, the programs backup the principle: "the information entered only once, and transfer conducted immediately".
Input processing. Money order directed from the bank-sender (eg. LHB bank) through SWIFT is automaticcaly entered to SWIFT server, and through file-transfer is trasfered to the data base server, also automatically.
Administrator who conducts processing through the programs for input, by pressing the key List of value sees Pop up screen where he can see all, by that time unprocessed money orders that he one after another accepts into the data base.
Processes of accounting, balancing and rating are automatic. After a money order has been processed in such a way, printing lists are formed on pre-printing form 743, telex, e-mail notifications and other reports. At the end of the day, ASCII file is formed that is delivered to the National bank.
For the banks with several branch units, a worker in the central unit performs input procesing. After verification, inputs are sent to the branch units, where the forms (warrant 743) are printed and approval is conducted and the final user is notified. The level of error at the data processing is reduced to minimum, since the data are automatically taken over from SWIFT-server to the bank's and branch unit's computer. The speed of input processing, from the receiving of SWIFT message (MT100) to notification of the final user about the received input is reduced from a few days to a few hours.
Output of funds is performed when a warrant issuer issues a warrant for payment on the pre-printed form, or a bank administrator can form the warrant.
For banks with several branch units, administrator enters the data from the warrant that can be seen in the bank's central unit (bank sender), based on which SWIFT messages MT100 or MT202 are automatically formed.
Formed SWIFT message can be supplemented at demand, and it is automatically transferred to SWIFT server. For the message of performed uotput of funds to be forwarded to the bank - receiver, it is required only to perform the obligatory verification of the SWIFT message on the SWIFT server. The process of accounting, balancing and rating and calculating of fees is dene automatically. From, in such a way processed money order, lists for printing and other reports, as well as the ASCII file for the National bank are automatically formed.
Credentials are processed at party's request and documentation delivery, then opening, out-balance accounting and calculation of fees for the credential (form-1451) are performed. Warrants for paying for a credential (form 1451-a) are formed automatically with formed paragraphs for accounting, balancing and calculation of fees. Based on the entered data, SWIFT messages are automatically formed that are, after verification sent to the bank - receiver. Reports are printed on pre-printed forms (form 1451, form 1451-a, form 746, etc.). in each moment, it is possible to see the state of the credential, to monitor its changes, and to obtain other individual and collective reports for credentials.
Guarantees are processed at party's request and documentation delivery, then opening and out-balance accounting is performed according to the issued guarantee. Guaranteed payment warrants, calculation of fees (monthly and quarterly), and rating is performed automatically by forming the accounting paragraphs. Based on the entered data, SWIFT messages are automatically formed that are, after verification sent to the bank - receiver.
At every moment you can see the state of your guarantee, monitor changes according to guarantee, and obtain other individual and collective reports according to guarantees.
Foreign exchange loans include managing of long-term and short-term foreign exchange loans. When registering the data, it is possible to automatically create schedules (amortization plans) of arrival of installmnts and loan's interests. For those loans that are obtained from international institutions (Consortium, banks, MMF), it is possible to manage conclusion of loans at National bank's specifications or at creditors specifications. Accounting, calculation of interests, fees, reporting is automatic.
Other jobs included in the subsystem of foreign exchange managing
Offer and demand of foreign exchange among banks, firms, and banks and firms (conclusions) as well as intention of sale and purchase of foreign exchange. All jobs and reports are done automatically, as well as reporting to the National bank and ASCII files.
Purchase and sale of foreign exchange among the banks on international foreign exhange market (arbitration). All jobs, reports and forming of SWIFT messages are automatically formed.
Exchange rate data processing. Exchange rate list is run daily, with the possibility of monitoring 7 types of exchange rates. The data are automatically incoming from the file obtained at the money market. Exchange rate list is uniformly managed for the whole bank. For banks with several branch units, exchange rate list is automatically forwarded to branch units or processing units.
SWIFT - messages are managed by automatic transfer from the SWIFT server to the IS bank's base, from where they are automatically forwarded to the report. Connecting the openet paragraphs with foreign banks is done automatically. The going away messages are formed from the payment warrants automatically, and then forwarded to SWIFT server. Processed messages are archived into archive files.
Calculations. Calculation of exchange rates' differences, rating, fees calculations are done automatically. After the claculation, common lists for the entire bank and individual lists for the user.if the calculation is done correctly, programs for automatic accounting of calculation are run. Calculations and accounting are started by managing administrators.
Accountancy - each accounting that has been performed in the foreign exchange jobs are included into the bank's accountancy, and therefore into the bank's general ledger. There is no additional accounting, and for the accuracy of the entered data, responsible is the administrator that has processed the data.
Reports - all types of reports needed for foreign exchange managing are processed: control list of entries, reports on pre-printed forms (form 743, form 745, form 746, form 747, form 1450, form 1451, form 1451-a), transfers, conclusions, etc.), daily, quarterly, monthly reports, reports for the National bank (daily about the foreign exchange flow, quarterly about foreign exchange flow, cash flow), reports for inspection, as well as a set of reports for the bank's management.
