Transaction PATOPN is used to enter a participation deal into the system according to the conditions agreed with the correspondent bank.
Only the information that is necessary for the participation deal must be entered into the system. The details of the underlying letter of credit or guarantee are optional fields available for information.
The portion of the LC/ guarantee amount the participant is willing to cover is booked in as liability for the LC/ guarantee issuing bank. If it is an open participation, a letter to the issuing bank is generated informing them that the share of risk has been distributed to one or more participants. In case of a 'Silent Participation', an acknowledgment is only sent to the correspondent bank.
Depending on the terms of the agreement, the charges and commissions can be entered in this transaction or at a later stage.
If a participation has been pre-opened, any information entered before are taken over into this transaction. Except for the currency of the deal all fields can be modified.
Select it from the menu item [Other Products -> Participation -> Main -> Open]
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.