DTCC unveils Loan/Serv
The Depository Trust & Clearing Corporation (DTCC) has announced its plans for Loan/Serv, a new suite of services to assist in the processing of syndicated commercial loans. Syndicated loans involve multiple lenders for each borrower, with an agent bank acting as the liaison, transmitting information back and forth between parties. According to the DTCC, the loan process is essentially manual with the majority of information transmitted by fax resulting in a large number of manual errors. The
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