FIOS · Repo & securities lending: daily state

The two firms compare the state of every open loan every day (quantity, fee rate, collateral value, accrued fee), instead of waiting for the month-end billing reconciliation. Normal noise (different price sources, rounding) is absorbed by agreed tolerances; a real difference is flagged the day it appears.
80open loans, 10 days
7real faults planted
7/7caught by the daily check
7/7caught the same day they started
0false alarms on clean loans
0found by the month-end billing check

Loans out of agreement, per day

0Day 1
1Day 2
3Day 3
7Day 4
7Day 5
7Day 6
7Day 7
7Day 8
7Day 9
7Day 10

Every planted fault

LoanFaultWhat happened StartedFIOS flaggedMonth-end billing check
SL-00049Accrual basis differs (ACT/360 vs ACT/365F)counterparty accrues ACT/360 vs agreed ACT/365FDay 2Day 2Not found
SL-00009Accrual basis differs (ACT/360 vs ACT/365F)counterparty accrues ACT/360 vs agreed ACT/365FDay 3Day 3Not found
SL-00055Rerate missedrerate to 226.7bps never applied by counterpartyDay 3Day 3Not found
SL-00016Accrual basis differs (ACT/360 vs ACT/365F)counterparty accrues ACT/360 vs agreed ACT/365FDay 4Day 4Not found
SL-00028Partial return booked differentlypartial return 4000 booked as 2000 by counterpartyDay 4Day 4Not found
SL-00050Rerate missedrerate to 247.2bps never applied by counterpartyDay 4Day 4Not found
SL-00066Accrual basis differs (ACT/360 vs ACT/365F)counterparty accrues ACT/360 vs agreed ACT/365FDay 4Day 4Not found
Generated sample data (a synthetic lending desk and counterparty), not a real firm's records. A fault such as a missed rerate looks small on day one; by month-end it has compounded into an invoice dispute settled by email and phone. In a pilot, the same check runs read-only on your own daily files.