BDR COLU Reports:

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Status: Best Practice Finalised, Last Updated: 15/02/2024

Question:
COLU Reports for collateral:

1. As COLU updates are not “delta” reports (they are outstanding balance reports) and all relevant collateral data fields within the range 2.75 to 2.94 must be repeated in each collateral update report, even if only one of these fields has changed.
2. Typically MODI's or CORR's are not used to correct or update COLU message by sending a latest COLU message report will overwrite the previous COLU message report, this means COLU messages for back reporting should be easier to send than MODI and CORR reporting messages as explained above.
3. COLU message (Net or Trade) also follow the event date +1 logic for TSR/Reconciliation population.
4. For trade-based collateral your event date must be less than the value date on the collateral message for the submission to be ACKNOWLEDGED
5. If the COLU submission does not abide by the event date + 1 logic, the COLU will not appear on TSR and Reconciliation BUT will appear in the latest TAR

Best Practice:
(SFTR-826)