General Description

AIS Synthetic Swaps Back Office has the capacity to monitor Synthetic Swaps not only in a managerial way (maturities e.t.c.) but also in an accounting way (general ledger entry, accounts balances, etc.). It should be noted that focus has been given on accounting entries so that the system be able to provide the user with all the basic accounting information.

Basic Characteristics

In detail, the SYNTHETIC SWAPS application performs the following operations:

SYNTHETIC SWAPS are recorded on a daily basis. After SYNTHETIC SWAPS recording the system has the capacity to produce reports regarding the following:

• Accounting Articles for the SWAPS initiation, interest accrual, maturity.
  
• Balances in foreign currency.
  
• Balances in local currency.
  
• Deposits Amount in foreign currency (on a monthly basis).
  
• Taxation in foreign currency (on a daily basis).
  
• Yields on a daily basis
  
• Deposits amounts in original currency as well as in local currency
  
• Accounts balances in foreign as well as in local currency on an analytical/summarized level of each account
  
• SYNTHETIC SWAPS maturity list
  
• Analytical ledger

In addition, the system has the capability to issue a serial ASCII file containing the daily accounting articles.