SWIFTStandards

Category 2 Financial Institution Transfers

May 2005 Standards Release

March 2005 edition

Copyright
Copyright © S.W.I.F.T. SCRL ("SWIFT"), avenue Adèle 1, B-1310 La Hulpe, Belgium, 2005. All rights reserved. No part of this publication may be copied or reproduced, stored in a retrieval system, sold or transferred to any person, in whole or in part, in any manner or form or on any media, without the prior written permission of SWIFT. The recipient is, however, authorised to copy or reproduce this publication within its own organisation as may be reasonably necessary for the purpose for which it is supplied. Any such copy or reproduction will include the following: acknowledgement of the source, reference and date of publication, and all notices set out on this page.

Confidentiality
This publication may contain proprietary and/or confidential information of SWIFT and/or its suppliers. The recipient should not disclose this publication to third parties without the prior written permission of SWIFT.

Disclaimer
Although SWIFT has used reasonable efforts to ensure accuracy of its contents, SWIFT assumes no liability for any inadvertent error or omission that may appear in this publication. The information in this publication is the latest available at the date of its production, and may change from time to time.

Translations
SWIFT official documentation is published in English only. Even where SWIFT has exceptionally permitted the translation of the documentation, only the English version is valid.

Warning to all Users
Access to SWIFT Products and Services is subject to certain eligibility criteria and other conditions. SWIFT Users should always refer to their contractual arrangements with SWIFT and, as relevant, to the Message Usage Restriction tables contained in the FIN Service Description, to ascertain which portions of the SWIFT Products and Services described in this document apply to them.

Trademarks and Patents
SWIFT, S.W.I.F.T., the SWIFT logos, Sibos, SWIFTNet, SWIFTAlliance, SWIFTStandards, SWIFTReady and Accord are trademarks of S.W.I.F.T. SCRL. Other SWIFT-derived product and service names, such as but not limited to SWIFTSolutions and SWIFTSupport, are tradenames of S.W.I.F.T. SCRL. SWIFT is the trading name of S.W.I.F.T. SCRL. All other product or company names that may be mentioned in this publication are tradenames, trademarks or registered trademarks of their respective owners. Patent pending: SWIFTNet. March 2005 edition

Table of Contents

Table of Contents
Introduction ........................................................................................................................... 1 Category 2 Message Types.................................................................................................... 5 Euro – Impact on Category 2 Message Standards................................................................. 9 MT 200 Financial Institution Transfer for its Own Account .............................................. 21 MT 201 Multiple Financial Institution Transfer for its Own Account ................................ 34 MT 202 General Financial Institution Transfer ................................................................... 49 MT 203 Multiple General Financial Institution Transfer .................................................... 72 MT 204 Financial Markets Direct Debit Message .............................................................. 94 MT 205 Financial Institution Transfer Execution ............................................................. 113 MT 206 Cheque Truncation Message ............................................................................... 131 MT 207 Request For Financial Institution Transfer .......................................................... 166 MT 210 Notice to Receive ................................................................................................ 187 MT 256 Advice of Non-Payment of Cheques ................................................................... 197 MT 290 Advice of Charges, Interest and Other Adjustments ........................................... 216 MT 291 Request for Payment of Charges, Interest and Other Expenses .......................... 217 MT 292 Request for Cancellation ..................................................................................... 218 MT 295 Queries ................................................................................................................. 219 MT 296 Answers ............................................................................................................... 220 MT 298 Proprietary Message ............................................................................................ 221 MT 299 Free Format Message .......................................................................................... 222 Glossary of Terms ............................................................................................................. 223

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Introduction

Introduction
Overview
Category 2 consists of four types of messages exchanged between and on behalf of financial institutions. These are: • • • • financial institution transfers, which are orders for the movement of funds, originated by a financial institution, in favour of itself or another financial institution. notice to receive, which notifies a financial institution of funds which are to be received for the Sender's account. payment messages issued by financial institutions to claim funds from SWIFT member banks. cheque truncation messages, to debit, obtain credit or inform of non-payment of truncated cheques.

The messages in this category deal with payments, or information about payments, in which all parties in the transaction are financial institutions.

Changes
This volume incorporates the following changes to Category 2 Financial Institution Transfers as noted in the Standards Release Guide (SRG) 2005 and the relevant updates to the SRG 2005: • • BEIs are expanded to include SMDP (Securities Market Data Providers), deletion of the MT 293 Information Service Message.

IMPORTANT This volume contains information effective as of the May 2005 Standards Release. Therefore the Standards volumes as published on the User Handbook August 2004 edition remain effective until May 2005.

Volume Formatting Explanation
Category 2 of the Standards User Handbook set contains general information about the category and a detailed description of each message type which is currently available for use. For each message type, the following information is provided:

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Message Type Scope
The scope specifies the Sender and Receiver of the message and provides an explanation on how the message is used. In some messages, an example of the message flow is also provided.

Message Type Format Specifications
The format specifications are the rules for the layout of the message type. This information is provided in table form with the following information: MT nnn (Message Type Name)
Status M M Tag 20 21 Field Name Transaction Reference Number Related Reference Content/Options 16x 16x No. 1 2

Mandatory Sequence A (Sequence Name) M M 25 32a Account Identification Value Date, Currency Code, Amount 35x C or D 3 4

-----> Optional Repetitive Sequence B (Sequence Name) O M O -----| M = Mandatory O = Optional 52a 71B 72 Ordering Institution Details of Charges Sender to Receiver Information A or D 6*35x 6*35x 5 6 7

• •

MT nnn (Message Type Name) provides the message type number and name Status indicates if the field is M – Mandatory O – Optional

The status M for fields in optional (sub)sequences means that the field must be present if the (sub)sequence is present and is otherwise not allowed. • • Tag is the field identification Field Name is the detailed name of the field tag, for this message type

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Introduction

Content/Options provides permitted field length and characteristics. For information concerning field structure, notation and character restrictions, please see Standards General Information.. No. identifies the number of the field in the Field Specifications for the message type. Some messages are separated into sequences of fields, as shown above. An arrow indicates that a sequence of fields may be repeated.

MT Network Validated Rules
Network validated rules are validated on the network, ie, rules for which an error code is defined. Rules specified in this section affect more than one field in the message, placing a ‘condition’ on one of the fields specified. They are identified as Cn, or conditional rules.

MT Usage Rules
Usage rules are not validated on the network, ie, rules for which no error code is defined, but are nevertheless mandatory for the correct usage of the message. Rules specified in this section affect more than one field in the message, or more than one SWIFT message.

MT Guidelines
Guidelines are not validated on the network and are not mandatory for the correct usage of the message. They concern good practices. Guidelines specified in this section affect more than one field in the message, or more than one SWIFT message.

MT Field Specifications
The rules for the use of each field in the message are specified in this section. Each field is identified by its index number (as shown in the No. column of the MT Format Specifications), field tag and detailed field name, followed by a description of the field, which may contain some or all of the following: • • • • FORMAT specifies the field formats which are allowed for the field. PRESENCE indicates if the field is mandatory, optional or conditional in its sequence. DEFINITION specifies the definition of the field in this sequence of the message type. CODES lists all codes available for use in the field. If there is more than one subfield for which codes are defined, each separate code list will be identified with a CODES heading. When a list of codes is validated by the network, the error code will be specified. NETWORK VALIDATED RULES specifies rules that are validated on the network, ie, rules for which an error code is defined. Generally, rules specified in this section affect only the

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field in which they appear. In some cases, rules which are validated at the message level, ie, rules which affect more than one field, are repeated in this section. This is the case when the rule does not affect the presence of the field, but information within several fields, eg, a currency which must be the same for more than one field in the message. • USAGE RULES specifies rules that are not validated on the network, ie, rules for which no error code is defined, but are nevertheless mandatory for the correct usage of the field. Rules specified in this section affect only the field in which they appear. EXAMPLES provides one or more examples of the field as it will be formatted/used.

MT Mapping
MT mapping provides an explanation of how to map the fields of the message into another SWIFT message, either of the same or a different message type.

MT Example
Examples are provided to illustrate the correct use of a message. Examples always include the following information: • • • Narrative provides a brief description of a transaction Information Flow illustrates the relationships between the parties involved in the message. An explanation of the flow diagram can be found in Standards General Information. SWIFT Format provides the message using the defined SWIFT format, and providing an explanation, where necessary, of the fields which have been used.

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Category 2 Message Types

Category 2 Message Types
The following table lists all message types defined in category 2. For each message type, there is a short description, an indicator whether the message type requires authentication (Y/N), the maximum message length on input (2,000 or 10,000 characters), whether the use of the message requires registration with SWIFT for use in a message user group (Y/N) and wether value date ordering (VDO) can be requested for the message (Y/N). Value date ordering criteria are described in section 5.4.6 of the General Information volume.

MT 200

MT Name Financial Institution Transfer for its Own Account Multiple Financial Institution Transfer for its Own Account General Financial Institution Transfer Multiple General Financial Institution Transfer Financial Markets Direct Debit Message Financial Institution Transfer Execution

Purpose Requests the movement of the Sender's funds to its account at another financial institution Multiple of the MT 200

Authen. Y

Max. Length 2,000

MUG N

VDO Y

201

Y

2,000

N

Y

202

Requests the movement of funds between financial institutions Multiple of the MT 202

Y

2,000

N

Y

203

Y

2,000

N

Y

204

Claims funds from SWIFT member banks Further transmits a transfer request domestically

Y

2,000

Y

Y

205

Y

2,000

N

Y

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MT 206

MT Name Cheque Truncation Message

Purpose Conveys information on one or more truncated cheques in order to debit or obtain credit under usual reserve Requests to debit an ordering financial institution's account held at the receiving financial institution or the account servicing financial institution Notifies the Receiver that it will receive funds for the Sender's account Informs the Sender of one or more previously sent MT 206s of non-payment of one or more truncated cheques. It may also be used to specify dishonoured items that result in reversing a previous payment settlement Advises an account owner of charges, interest or other adjustments

Authen. Y

Max. Length 10,000

MUG Y

VDO Y

207

Request for Financial Institution Transfer

Y

10,000

Y

Y

210

Notice to Receive Advice of NonPayment of Cheques

Y

2,000

N

Y

256

Y

10,000

Y

Y

290

Advice of Charges, Interest and Other Adjustments Request for Payment of Charges, Interest and Other Expenses

Y

2,000

N

N

291

Requests payment of charges, interest or other expenses

Y

2,000

N

N

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Category 2 Message Types

MT 292

MT Name Request for Cancellation

Purpose Requests the Receiver to consider cancellation of the message identified in the request Requests information relating to a previous message or amendment to a previous message Responds to an MT 295 Queries message or an MT 292 Request for Cancellation or other message where no specific message type has been provided for a response Contains formats defined and agreed to between users and for those messages not yet live Contains information for which no other message type has been defined

Authen. Y

Max. Length 2,000

MUG N

VDO N

295

Queries

Y

2,000

N

N

296

Answers

Y

2,000

N

N

298

Proprietary Message

Y

10,000

N

N

299

Free Format Message

Y

2,000

N

N

Note: A MUG, for the purposes of this book, is a group of users which have voluntarily agreed to support the specified message type and have registered with SWIFT to send or receive the specified message type. These messages are indicated in the preceding table in the column ‘MUG’. Registration is free of charge. It is done by sending an MT 999 to SWHQBEBBCOS to the attention of Customer Implementation. To register, the following information must be provided: • • • • • the destination of the requesting institution, ie, the 8 character BIC the message type or specific usage of the specified message type the contact name and telephone number within the institution whether the request is for test and training or live operation, or both the requested activation date for testing and training and/or live operation.

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Activation occurs every Monday. A period of about three weeks is needed between the registration request and the actual activation period. A user can choose to withdraw from the group. This is done by sending SWIFT a similar request to withdraw. Upon request to Customer Implementation (see the SWIFT address above), information can be obtained regarding other members of the MUG.

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Euro – Impact on Category 2 Message Standards

Euro – Impact on Category 2 Message Standards
Deletion of the National Currency Denomination (NCD) Currency Codes
On 1 March 2002, ISO announced the deletion of the NCD currency codes from the official ISO currency code table 4217. For certain message types, when an NCD is used as the currency of settlement, SWIFT validates to ensure the value date is before 1 January 2002, when these currencies stopped to be legal tender. This validation has been introduced on the network in July 2001. Until further notice, and where allowed (NCDs cannot be used in settlement amount fields), SWIFT will continue to support NCD currency codes (eg, instructed amounts, ERI) in the relevant fields of its message types.

Euro-Related Information (ERI)
This chapter discusses what is meant by Euro-Related Information (ERI).

ERI Content
Euro-Related Information (ERI) refers to the following data: • • • original currency, original amount, transaction charges.

The original currency and amount in ERI is the equivalent of the information in the field containing the amount which is used for interbank settlement of the transaction. This field may contain additional information, eg, value date. ERI may be specified in free-text field 72, preceded by a code. As of Standards Release 2001, the use of ERI was extended to non-European currencies, and beyond the transition period of 3 years.

ERI Usage Guidelines and Rules, Relevant for Category 2
The specification of ERI is always optional. If used, however, the rules and guidelines specified in this section apply. These rules and guidelines include: • Usage Rules,

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Usage Guidelines.

Usage rules must be complied with, although they are not validated by the network. Usage guidelines are recommendations on how to specify ERI. Usage Rules As with all other information occurring in fields 72, 77A or 79, ERI is for information purposes only. In the case of a discrepancy between ERI and the settlement amount specified in the message, the information in the settlement amount prevails. Usage Guidelines 1. If no specific fields are available to specify the original currency and amount, ERI may be used in any message type containing a free text field 72, ie, the use of ERI is not restricted to specific message types. See the section entitled ‘Messages Likely to Contain ERI’. This section lists, for each message type, the field to specify the settlement amount and the field to specify the original amount. The list is provided to facilitate the implementation of different systems: it is not exhaustive. 2. If ERI is specified in field 72, it should appear on the first line whenever possible. Whatever line is used, the ERI should always appear on the first position of that line. 3. Where the settlement amount is part of a repetitive sequence which does not contain a free text field, the message should be used as a single transaction message, ie, one message should be used per transaction. 4. Where transaction charges are specified in ERI, this information must appear after the code /CHGS/. This will not necessarily be processed by the Receiver. 5. ERI is designed to be passed on unchanged in the appropriate message types throughout the entire transaction, ie, throughout the chain of messages relating to the transaction. Therefore, it should appear in the appropriate SWIFT messages related to the transaction.

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Euro – Impact on Category 2 Message Standards

ERI Structure
FORMAT DEFINITION Field 72 6*35x

In addition to previously defined Sender to Receiver information,or other narrative information, field 72 may include euro-related information (ERI) for information purposes. ERI indicates currency conversion details, related to the conversion of the original currency into a settlement currency, found in field 72. It is recommended that ERI be structured using codes. The following codes must be used: /OCMT/ 3!a15d/ O Original currency and amount. If no charges are specified then the original currency and amount will be the equivalent of the transaction amount specified in the message. Currency and amount of the transaction charges. When the BEN option is used in payments and related messages, ie, all transaction charges are to be paid by the beneficiary customer, the charges amount has been deducted from the original amount to obtain the settlement amount specified in the message.

CODES

/CHGS/

3!a15d/

O

USAGE RULES EXAMPLE

The network will validate the structure of ERI, but not the content. :72:/OCMT/USD504938,/ /CHGS/EUR2,40/

Message-Specific Guidelines on the Use of ERI
This chapter lists category 2 message types which: • • are likely to contain ERI are to be validated against a specified value date

Messages Likely to Contain ERI
The following lists message types that are likely to contain euro-related information (ERI) in field 72.

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If there are business requirements to specify ERI in other message types, these should be similarly specified in field 72 as explained in the section entitled ERI Structure. Therefore, this list is not exhaustive.

MT

MT Name

Settlement Amount Field 32A Value Date, Currency Code, Amount 32B Currency Code, Amount 32B Currency Code, Amount 32A Value Date, Currency Code, Amount 32B Currency Code, Amount

Repetitive/ NonRepetitive NR R

ERI Field 72 72

Repetitive /NonRepetitive NR R

202 203

General Financial Institution Transfer Multiple General Financial Institution Transfer Financial Markets Direct Debit Message Financial Institution Transfer Execution Request for Financial Institution Transfer

204 205 207

R NR R

72 72 72

R NR NR

Messages with Value Date Validation
The following list contains messages that can be used to transfer amounts in National Currency Denominations (NCDs). If so, the value date has to be equal to, or before 31 December 2001. If this validation against value date fails, the message will be NAKed (Error Code 'E76'). The list gives the message description, the field containing the NCD amount and the field containing the value date. This validation is performed since 30 July 2001. Statement messages are not validated against value date, since they are generally the result of one of the earlier validated messages. Due to the importance of statements it is best not to risk rejection of these messages. Furthermore accounts are not held in NCD since 1 January 2002. Consequently, since that date, statement messages must not contain NCDs. The currencies concerned are ATS, BEF, DEM, ESP, FIM, FRF, GRD, IEP, ITL, LUF, NLG, PTE and XEU

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MT 200 201 202 203 204 205 207 210

MT Name Financial Institution Transfer for its Own Account Multiple Fincancial Institution Transfer for its Own Account General Financial Institution Transfer Multiple General Financial Institution Transfer Financial Markets Direct Debit Message Financial Institution Transfer Execution Request for Financial Institution Transfer Notice to Receive 32A

NCD Amount Field

Value Date Field 32A 30 32A 30 30 32A 30 in Seq A 30

32B (each occurrence) 32A 32B (each occurrence) 32B (each occurrence) 32A 32B (each occurrence) 32B (each occurrence)

ERI Validation and Examples
This chapter details the validation of the ERI information and provides examples that give correct and incorrect messages.

General ERI Validation Rules
Codes and format: • • /OCMT/3!a15d/ /CHGS/3!a15d/

where: • • the currency component ‘3!a’ must be a valid ISO currency code (Error code(s): T52). the amount component ‘15d’ following the currency code must be formatted according to the Field Formatting Rules given in Section 5.4.2 Numbers of the Standards General Information. If not properly formatted the system will NAK the message with Error Code T40, T43, T33 or other generic error codes as deemed necessary.

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the amount component ‘15d’ will not be checked on the maximum number of decimal digits allowed for the relevant currency code.

In the following examples the currency code ‘XYZ’ is invalid. The message is NAKed: • :72:/OCMT/XYZ150,/(CrLf) /CHGS/EUR1,(CrLf) • :72:xxxxx/OCMT/EUR10000,//CHGS/XYZ1,/(CrLf) In the following examples the amount components are invalid. The message is NAKed: • :72:/OCMT/EUR,12/(CrLf) • :72:/OCMT/EUR123/(CrLf) Note: The amount component must be followed by a slash character, ‘/’ (Error code(s): T31). In the following example the amount component is invalid. The message is NAKed :72:/OCMT/EUR1,23(CrLf) Messages and fields impacted The ERI validation will be performed in fields: • 72 Structured Format and 72 Narrative, of all messages except the MTs 292, 295, 296 and 299

In the following example OCMT is validated. The message is not NAKed: • :72:xxxxx/OCMT/EUR10,25/xxxxx(CrLf) In the following example OCMT and CHGS are validated. The message is not NAKed: • :72:xxxxx/OCMT/EUR10,25/(CrLf) /CHGS/EUR1,/(CrLf) No ERI validation hierarchy between the fields Note, if the same Field Specification is re-used in the message, the ERI validation will be performed. This is usually the case where a field is defined in a loop, ie, a repetitive block of fields or sequence. /CHGS/ is only validated if /OCMT/ is present The ERI validation for the code /CHGS/ (6 characters) will be performed only if it immediately follows /OCMT/3!a15d/ in the same occurrence of that field. Therefore, if /OCMT/ is present in a first occurrence of field 72 and /CHGS/ is present in a following occurrence of field 72 (but /OCMT/ is not present in that field 72), then the system does not validate the format following /CHGS/ in the second field 72.

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In the following example, CHGS is not validated because OCMT is missing. The message is not NAKed: • :72:xxxxx/CHGS/EUR1,40/xxxxx(CrLf) Sequence of codes is required Within a field, the sequence of the codes /OCMT/ and /CHGS/ is relevant. Only if /OCMT/ appears immediately before /CHGS/, will the ERI validation be applied to /CHGS/. In the following examples OCMT and CHGS are validated. The message is not NAKed: Example 1 (structured field 72): • :72:/INS/BANKCCCY/OCMT/EUR12345,/(CrLf) /CHGS/EUR100,/xxxxx(CrLf) Example 2 (free format field 72): • :72:xyz/OCMT/EUR1234,00//CHGS/EUR40,00/(CrLf) //xxx(CrLf) In the following example only OCMT is validated because CHGS does not immediately follow OCMT. The message is not NAKed: Example 3 (free format field 72): • :72:xxxxxxxxxx(CrLf) //xxxxxxxxxx(CrLf) /OCMT/EUR10000,/xxxxx(CrLf) //xxxxxxxxxx(CrLf) /CHGS/EUR50,/(CrLf) //xxxxxxxxxx(CrLf) Note: If /CHGS/ appears before /OCMT/, /CHGS/ will not be recognized as part of the ERI and will not be subject to the ERI validation. In the following examples only OCMT is validated. The message is not NAKed: Example 4 (structured field 72): • :72:/CHGS/EUR12,/xxxxx(CrLf) //xxxxxxxxxx(CrLf) //xxxxxxxxxx(CrLf) /OCMT/EUR12345,/xxxxx(CrLf) //xxxxxxxxxx(CrLf) Example 5 (free format field 72): • :72:xyz/CHGS/EUR4,00/xxx/OCMT/EUR1234,0(CrLf) //0/xxx(CrLf)

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In the following example, OCMT and the second occurrence of CHGS are validated. The message is not NAKed: Example 6 (structured field 72): • :72:/CHGS/EUR1,/xxxxx(CrLf) //xxxxxxxxxx(CrLf) //xxxxxxxxxx(CrLf) /OCMT/EUR12345,/(CrLf) /CHGS/EUR12,/xxxxx(CrLf) Double codes are not allowed in one field In one occurrence of a field where the ERI validation must be performed, the codes /OCMT/ and /CHGS/ must not be used more than once. Note: Since the presence of /OCMT/ triggers the validation of /CHGS/, a double /CHGS/ will be NAKed only if /OCMT/ is present in the same field. If the ERI validation fails due to a duplicated code, it will result – whichever field was validated – in the existing Error Code T47. The line number of the first field in sequence in the message where the error occurred will be indicated together with the error code. In the following examples OCMT is found twice. The messages are NAKed: Example 1 (structured field 72): • :72:/OCMT/EUR12345,/(CrLf) //xxxxxx(CrLf) /OCMT/EUR100,/xxxxx(CrLf) Example 2 (free format field 72): • :72:xyz/OCMT/EUR1234,00//OCMT/EUR40,00/(CrLf) //xxx(CrLf) In the following example CHGS is found twice. The message is NAKed Example 3 (free format field 72): • :72:xxxxxxxxxx(CrLf) //xxxxxxxxxx(CrLf) /OCMT/EUR10000,/(CrLf) /CHGS/EUR100,/xxxxxxxxxx(CrLf) /CHGS/EUR50,/(CrLf) //xxxxxxxxxx(CrLf) Note: If /CHGS/ appears before /OCMT/, /CHGS/ will not be recognized as part of the ERI and thus not be subject to the ERI validation.

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Euro – Impact on Category 2 Message Standards

In the following example OCMT and the second occurrence of CHGS are validated. The messages are not NAKed. Example 4 (structured field 72): • :72:/CHGS/EUR12,/xxxxx(CrLf) //xxxxxxxxxx(CrLf) //xxxxxxxxxx(CrLf) /OCMT/EUR12345,/(CrLf) /CHGS/EUR50,/(CrLf) //xxxxxxxxxx(CrLf) Example 5 (free format field 72): • :72:xyz/CHGS/EUR4,00//OCMT/EUR1234,00//(CrLf) //CHGS/EUR4,00/(CrLf) Consistent with current standards In all fields where the ERI validation is defined, the ‘generic’, ie, current, validation must still be performed. For example, a. field 72 is always checked for maximum 6 lines, with a maximum of 35 characters per line. b. field 72, structured format, the first line must begin with a ‘/’, and the second through sixth line (optional), must begin with a ‘/’ or a ‘//’. Maximum use of the generic format definition In order to maximize the use of all characters allowed in the ‘generic’ format, the codes /OCMT/, /CHGS/, as well as the data (3!a15d/), may be split across lines. Example in narrative format of information that follows ERI related codes, split across lines: • :72:xxxxx/OCMT/EUR12345,(CrLf) 12//CHGS/E(CrLf) UR12,/(CrLf) Example in structured format of ERI related codes, split across lines: • :72:/INS/BANKCCCY/OCMT/EUR1234,//CH(CrLf) //GS/EUR1,/xxxxxxx(CrLf) Example in narrative format of ERI related codes, split across lines: • :72:xxxxx/OC(CrLf) MT/EUR100,/(CrLf)

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No ERI validation performed in … : • • field 72, if the REJT or RETN codes are present, ie, the special REJT/RETN validation for fields 72 prevails. MTs 292, 295, 296 and 299.

Details of the ERI Validation Implementation
Field 72 (Structured format)
FORMAT <INSTR> [(CrLf)(<INSTR> or ‘//’ 33x)] where <INSTR> is definied as: /<1!a>/32x or /<2!a>/31x or /<3!a>/30x or /<4!a>/29x or /<5!a>/28x or /<6!a>/27x or /<7!a>/26x or /<8!a>/25x first line optionally, 2d through 6th line

The system will perform the following validation: 1. Maximum 6 lines, maximum 35 characters per line (<X> character set) 2. First line as <INSTR>, per the format defined here above 3. Second through sixth line, if present, defined as : <INSTR> OR <‘//’ 33x> a. If the 3 checks here above are OK, then go to point 4 b. Otherwise the message is NAK with the corresponding error code 4. Throughout the field content remove all (CrLf‘//’), if any 5. Throughout the field content remove all (CrLf), if any 6. Scan for /OCMT/ a. If /OCMT/ is not present, then perform next field validation b. If /OCMT/ is present more than once (double), then NAK the message with the Error Code T47 and terminate the validation c. If /OCMT/ is present only once, then validate the format <3!a15d>>

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• •

If format is valid, then go to point 7 If format is not valid, then NAK the message with the corresponding error code and terminate the validation

7. Check for /CHGS/ immediately after /OCMT/3!a15d/ a. If /CHGS/ is not present, then perform next field validation b. If /CHGS/ is present more than once (double), then NAK the message with the Error Code T47 and terminate the validation c. If /CHGS/ is present only once, then validate the format <3!a15d/> • • If format is valid, then go to next field validation If format is not valid, then NAK the message with the corresponding error code and terminate the validation

Field 72 (Narrative)
FORMAT 35x [(CrLf)35x]0-5

The system will perform the following validation: 1. Maximum 6 lines, maximum 35 characters per line (<X> character set) 2. Second through sixth line, if present, defined as 35x a. If the 2 checks here above are OK, then go to point 3 b. Otherwise the message is NAK with the corresponding error code 3. Throughout the field content remove all (CrLf), if any 4. Scan for /OCMT/ a. If /OCMT/ is not present, then perform next field validation b. If /OCMT/ is present more than once (double), then NAK the message with the Error Code T47 and terminate the validation c. If /OCMT/ is present only once, then validate the format <3!a15d/> • • If format is valid, then go to point 5. If format is not valid, then NAK the message with the corresponding error code and terminate the validation

5. Check for /CHGS/ immediately after /OCMT/3!a15d/ a. If /CHGS/ is not present, then perform next field validation

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b. If /CHGS/ is present more than once (double), then NAK the message with the Error Code T47 and terminate the validation c. If /CHGS/ is present only once, then validate the format <3!a15d/> • • If format is valid, then go to the next field validation If format is not valid, then NAK the message with the corresponding error code and terminate the validation.

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MT 200

MT 200 Financial Institution Transfer for its Own Account
MT 200 Scope
This message type is sent by an account owner to one of its account servicing institutions. It is used to request the movement of funds from an account that the Receiver services for the Sender to an account that the Sender has, in the same currency, with another financial institution.

MT 200 Format Specifications
MT 200 Financial Institution Transfer for its Own Account
Status M M O O M O Tag 20 32A 53B 56a 57a 72 Field Name Transaction Reference Number Value Date, Currency Code, Amount Sender's Correspondent Intermediary Account With Institution Sender to Receiver Information M = Mandatory O = Optional 16x 6!n3!a15d [/1!a][/34x] [35x] A or D A, B or D 6*35x Content/Options No. 1 2 3 4 5 6

MT 200 Network Validated Rules
There are no network validated rules for this message type.

MT 200 Usage Rules
• • The beneficiary of this transfer is always the Sender. The Receiver and the account with institution are normally in the same country.

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Category 2 - Financial Institution Transfers

In those cases where the account owner wishes to instruct its account servicing institution either to transfer funds between two accounts serviced by the Receiver, or to debit its account with the Receiver and to credit one of its several accounts at an account with institution, the MT 202 General Financial Institution Transfer or the MT 203 Multiple Financial Institution Transfer must be used. In those cases where the sender wants the account servicing institution to do a book transfer the MT 202 General financial institution transfer or the MT 203 Multiple financial institution transfer must be used.

MT 200 Field Specifications
1. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). 2. Field 32A: Value Date, Currency Code, Amount FORMAT Option A PRESENCE Mandatory DEFINITION This field specifies the value date, currency and amount to be transferred. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). 6!n3!a15d (Date) (Currency) (Amount)

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MT 200

The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 3. Field 53B: Sender's Correspondent FORMAT Option B [/1!a][/34x] [35x] (Party Identifier) (Location)

PRESENCE Optional DEFINITION This field specifies the account of the Sender which is to be debited. USAGE RULES In those cases where there are multiple direct account relationships, in the currency of the transaction, between the Sender and the Receiver, and one of these accounts is to be used, the account to be debited must be indicated in this field with the Party Identifier only. When there is a single direct account relationship, in the currency of the transaction, between the Sender and the Receiver, and this is the account to be used for reimbursement, field 53B must not be present. 4. Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field identifies a party between the Receiver and the account with institution through which the transaction must pass. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’:

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Category 2 - Financial Institution Transfers

with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code

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May 2005 Standards Release

MT 200

RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n

Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

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Category 2 - Financial Institution Transfers

5.

Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field identifies the financial institution to which the funds (owned by the Sender and originally placed with the Receiver) are to be transferred. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

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MT 200

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction.

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Category 2 - Financial Institution Transfers

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 6. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party identified in the field. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC INT PHON PHONIBK Instructions following are for the account with institution Instructions following are for the intermediary Please advise account with institution by phone Please advise intermediary by phone

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MT 200

REC TELE TELEIBK

Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication.

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash.

MT 200 Examples
Example 1 Financial Institution Transfer for its Own Account with an Account With Institution Narrative Value 24 May 2002 UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 1,000,000 to its account at ING Bank, Amsterdam.

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Category 2 - Financial Institution Transfers

The reference for this transaction is 23/200516DEV. Information Flow

Sender

UBS Zurich

MT

MT 200

(MT 910/950) Receiver (MT 205*) ABN Amro Bank Amsterdam

Account With Institution
57a
* Or its equivalent domestic clearing message

ING Bank Amsterdam
D0020001

SWIFT Message

Explanation Sender Message type Receiver Message text Transaction reference number Value date/currency code/amount UBSWCHZH80A 200 ABNANL2A

Format

20:23/200516DEV 32A:020524EUR1000000,

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MT 200

Explanation Account with institution (1) End of message text/trailer 57A:INGBNL2A

Format

Note: (1) The Sender's account at the account with institution is to be credited with the funds.

Example 2 Financial Institution Transfer for its Own Account with an Intermediary Narrative Value 24 May 2002, Bank Austria, Vienna, requests Chase Manhattan Bank, New York, to transfer US Dollars 1,000,000 to its account at Citibank N.A., Miami, through Citibank N.A., New York. Bank Austria requests Chase to debit account 34554-3049 for this transfer, using reference 39857579.

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Category 2 - Financial Institution Transfers

Information Flow

Sender

Bank Austria Vienna

MT

MT 200

Receiver (MT 910/950) (MT 205*)

Chase Manhattan Bank, New York

Intermediary
56a

Citibank N.A. New York

* Or its equivalent domestic clearing message

SWIFT Message

Explanation Sender Message type Receiver Message text Transaction reference number Value date/currency code/amount Sender's correspondent (1) Intermediary :20:39857579 BKAUATWW 200 CHASUS33

Format

:32A:020524USD1000000, :53B:/34554-3049 :56A:CITIUS33

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May 2005 Standards Release

D0020002

Account With Institution

57a

Citibank N.A. Miami

MT 200

Explanation Account with institution (2) End of message text/trailer

Format :57A:CITIUS33MIA

Note: (1) The Sender's account which is to be debited at Chase Manhattan Bank, New York. (2) The Sender's account at the account with institution which is to be credited with the funds in the transfer.

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Category 2 - Financial Institution Transfers

MT 201 Multiple Financial Institution Transfer for its Own Account
MT 201 Scope
This multiple message type is sent by an account owner to one of its account servicing institutions. It is used to request the movement of funds from an account that the Receiver services for the Sender to several accounts that the Sender has, in the same currency, with other financial institutions.

MT 201 Format Specifications
The MT 201 consists of two types of sequences: • The first sequence provides details of the transaction between the Sender and Receiver, ie, the value date and total amount to be transferred, the Sender's correspondent and any other information about this transaction, as necessary. The second sequence, which must appear at least twice and, in order to expedite processing, not more than ten times. It provides details of each transaction between the Receiver and a financial institution to which the funds will be transferred. Each sequence includes a TRN, the amount and currency code to be transferred, the identification of the financial institution(s) to which the funds will be transferred and any other information about the transaction, as necessary.

MT 201 Multiple Financial Institution Transfer for its Own Account
Status M M O O -----> M M 20 32B Transaction Reference Number Currency Code, Amount 16x 3!a15d 5 6 Tag 19 30 53B 72 Sum of Amounts Value Date Sender's Correspondent Sender to Receiver Information Field Name 17d 6!n [/1!a][/34x] [35x] 6*35x Content/Options No. 1 2 3 4

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May 2005 Standards Release

MT 201

Status O M O -----|

Tag 56a 57a 72 Intermediary

Field Name

Content/Options A or D A, B or D 6*35x

No. 7 8 9

Account With Institution Sender to Receiver Information

M = Mandatory O = Optional

MT 201 Network Validated Rules
C1 C2 C3 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error code(s): C01). The currency code in the amount field 32B must be the same for all occurrences of this field in the message (Error code(s): C02). The repetitive sequence must appear at least twice, but not more than ten times (Error code(s): T11, T10).

MT 201 Usage Rules
• Where the account owner wishes to instruct its account servicing institution either to transfer funds between two accounts serviced by the Receiver, or to debit its account with the Receiver and to credit one of its several accounts at an account with institution, the MT 202 General Financial Institution Transfer or the MT 203 Multiple General Financial Institution Transfer must be used. In those cases where the sender wants the account servicing institution to do a book transfer the MT 202 General financial institution transfer or the MT 203 Multiple financial institution transfer must be used. The beneficiary of each transfer is always the Sender.

MT 201 Field Specifications
1. Field 19: Sum of Amounts FORMAT 17d (Amount)

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Category 2 - Financial Institution Transfers

PRESENCE Mandatory DEFINITION This field contains the sum of all amounts appearing in each occurrence of field 32B in the message. NETWORK VALIDATED RULES The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32B (Error code(s): C03, T40, T43). 2. Field 30: Value Date FORMAT 6!n PRESENCE Mandatory DEFINITION This field specifies the value date for all transactions in the message. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). 3. Field 53B: Sender's Correspondent FORMAT Option B [/1!a][/34x] [35x] (Party Identifier) (Location) (Date)

PRESENCE Optional DEFINITION This field specifies the account of the Sender which is to be debited. USAGE RULES This field should be used when the Receiver services more than one account for the Sender in the currency of the transactions.

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MT 201

In those cases where there are multiple direct account relationships, in the currency of the transaction, between the Sender and the Receiver, and one of these accounts is to be used, the account to be debited must be indicated in this field with the Party Identifier only. When there is a single direct account relationship, in the currency of the transaction, between the Sender and the Receiver, and this is the account to be used for reimbursement, field 53B must not be present. 4. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information which applies to every transaction in the message. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC INT PHON PHONIBK REC TELE TELEIBK Instructions following are for the account with institution Instructions following are for the intermediary Please advise account with institution by phone Please advise intermediary by phone Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines.

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Category 2 - Financial Institution Transfers

USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash. 5. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION The Transaction Reference Number (TRN) specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES A different TRN must be assigned to each transaction in the message.

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MT 201

6.

Field 32B: Currency Code, Amount FORMAT Option B PRESENCE Mandatory DEFINITION This field specifies the currency and amount to be transferred in each individual transaction within the message. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 3!a15d (Currency) (Amount)

7.

Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the party between the Receiver and the account with institution through which the transaction must pass. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:

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Category 2 - Financial Institution Transfers

AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA

5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement

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May 2005 Standards Release

MT 201

RU SC SW SW ZA

9!n 6!n 3..5n 6!n 6!n

Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations.(Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

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Category 2 - Financial Institution Transfers

8.

Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field specifies the financial institution to which the funds (owned by the Sender and originally placed with the Receiver) are to be transferred. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

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MT 201

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a and 57a of the payment instruction.

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43

Category 2 - Financial Institution Transfers

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 9. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field contains additional information which applies to the transaction specified. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC INT PHON PHONIBK Instructions following are for the account with institution Instructions following are for the intermediary Please advise account with institution by phone Please advise intermediary by phone

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May 2005 Standards Release

MT 201

REC TELE TELEIBK

Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash.

MT 201 Examples
Narrative Value 28 May 2002, UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 61,000 to its accounts at the following financial institutions:

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Category 2 - Financial Institution Transfers

ING Bank, Amsterdam SNS Bank Nederland NV, Amsterdam ABN Amro Bank, Rotterdam Crédit Lyonnais, Paris Deutsche Bank AG, Frankfurt by telex through ING Bank, Amsterdam

EUR EUR EUR EUR EUR

5000, 7500, 12500, 6000, 30000,

Information Flow

Sender

UBS Zurich

MT

MT 201

Receiver

ABN Amro Bank Amsterdam

Intermediary

56a ING Bank Amsterdam

Account With Institution

57a

57a

57a

57a Crédit Lyonnais Paris

57a Deutsche Bank AG Frankfurt

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May 2005 Standards Release

D0020003

ABN Amro ING Bank SNS Bank Amsterdam Nederland NV Bank Amsterdam Rotterdam

MT 201

SWIFT Message

Explanation Sender Message type Receiver Message text Sum of amounts in the message Value date Transaction reference number (1) Currency code and amount Account with institution Transaction reference number (2) Currency code and amount Account with institution Transaction reference number (3) Currency code and amount Account with institution Transaction reference number (4) Currency code and amount Account with institution Transaction reference number (5) Currency code and amount Intermediary Account with institution :19:61000, :30:020528 :20:1234/22 :32B:EUR5000, :57A:INGBNL2A :20:1235/22 :32B:EUR7500, :57A:BBSPNL2A :20:1227/23 UBSWCHZH80A 201 ABNANL2A

Format

:32B:EUR12500, :57B:ROTTERDAM :20:1248/32 :32B:EUR6000, :57A:CRLYFRPP :20:1295/22 :32B:EUR30000, :56A:INGBNL2A :57A:DEUTDEFF

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Category 2 - Financial Institution Transfers

Explanation Sender to Receiver information End of message text/trailer Note: There are 5 requests for transfer within the message :72:/TELE/

Format

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MT 202

MT 202 General Financial Institution Transfer
MT 202 Scope
This message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the financial institution of the beneficiary institution. It is used to order the movement of funds to the beneficiary institution. This message may also be sent to a financial institution servicing multiple accounts for the Sender to transfer funds between these accounts. In addition it can be sent to a financial institution to debit an account of the Sender serviced by the Receiver and to credit an account, owned by the Sender at an institution specified in field 57a.

MT 202 Format Specifications
MT 202 General Financial Institution Transfer
Status M M -----> O -----| M O O O O O M O 32A 52a 53a 54a 56a 57a 58a 72 Value Date, Currency Code, Amount Ordering Institution Sender's Correspondent Receiver's Correspondent Intermediary Account With Institution Beneficiary Institution Sender to Receiver Information M = Mandatory O = Optional 6!n3!a15d A or D A, B or D A, B or D A or D A, B or D A or D 6*35x 4 5 6 7 8 9 10 11 13C Time Indication /8c/4!n1!x4!n 3 Tag 20 21 Field Name Transaction Reference Number Related Reference 16x 16x Content/Options No 1 2

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Category 2 - Financial Institution Transfers

MT 202 Network Validated Rules
C1 If field 56a is present, then field 57a must also be present (Error code(s): C81).

MT 202 Usage Rules
• • • All parties to the transaction must be financial institutions. The transfer of funds between the ordering institution and the beneficiary institution is always related to another transaction. Field 21 must refer to this transaction. If the Sender wishes to instruct the Receiver to debit its account serviced by the Receiver and to credit one of its several accounts at an institution specified in field 57a, field 58A must contain the number of the account to be credited and the name of the Sender. If the Sender wishes to instruct the Receiver that funds are to be moved between two accounts owned by the Sender and serviced by the Receiver, field 53B must specify the number of the account to be debited and field 58A the number of the account to be credited and the name of the Sender.

MT 202 Field Specifications
1. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). 2. Field 21: Related Reference FORMAT 16x

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MT 202

PRESENCE Mandatory DEFINITION This field contains a reference to the related transaction CODES If the Sender is not the originator of the transaction and no related reference is received, the code NONREF must be used in this field. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES If the related message is an MT 103 Single Customer Credit Transfer, this field will contain the field 20 Sender’s Reference of that MT 103. In all other cases, this field will contain a reference to the related transaction which is meaningful to the beneficiary institution, eg, the common reference in an MT 300 Foreign Exchange Confirmation, field 21 of an MT 202 General Financial Institution Transfer, an MT 205 Financial Institution Transfer Execution or an MT 400 Advice of Payment. 3. Field 13C: Time Indication FORMAT Option C PRESENCE Optional DEFINITION This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction. CODES One of the following codes may be used, placed between slashes (‘/’): /8c/4!n1!x4!n (Code)(Time indication)(Sign)(Time offset)

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Category 2 - Financial Institution Transfers

CLSTIME RNCTIME SNDTIME

The time by which the funding payment must be credited, with confirmation, to the CLS Bank's account at the central bank, expressed in Central European Time (CET). The time at which a TARGET payment has been credited at the receiving central bank, expressed in Central European Time (CET). The time at which a TARGET payment has been debited at the sending central bank, expressed in Central European Time (CET).

NETWORK VALIDATED RULES Time indication must be a valid time expressed as HHMM (Error code(s): T38). Sign is either "+" or "-" (Error code(s): T15). Time offset is expressed as ‘HHMM’, where the hour component, ie, ‘HH’, must be in the range of 00 through 13, and the minute component, ie, ‘MM’, must be in the range of 00 through 59. Any ‘HH’ or ‘MM’ component outside of these range checks will be disallowed (Error code(s): T16). USAGE RULES The time zone in which Time is expressed is to be identified by means of the offset against the UTC (Coordinated Universal Time - ISO 8601). EXAMPLE Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which it indicates that money has to be funded to CLS bank by 09.15 CET. Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100 Explanation: 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to be indicated in CET (see codes above). + 0100 is the offset of CET against UTC in January (ie during winter time). If the same instruction had been sent on 10 June (ie during summer time), time indication field would have been completed as follows: :13C:/CLSTIME/0915+0200 Offsets of local time zones against UTC are published in the green section of the BIC Directory. 4. Field 32A: Value Date, Currency Code, Amount FORMAT Option A 6!n3!a15d (Date) (Currency) (Amount)

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MT 202

PRESENCE Mandatory DEFINITION This field specifies the value date, currency and amount to be transferred. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 5. Field 52a: Ordering Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the ordering institution when other than the Sender of the message. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR 5!n 6!n 8!n 9!n 8..9n 7!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code)

without 9 digit code Pay by Fedwire

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Category 2 - Financial Institution Transfers

HK IE IN IT PT SC

3!n 6!n 11!c 10!n 8!n 6!n

Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05).

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MT 202

USAGE RULES When the Sender of an initial MT 202 is also the ordering institution, ie, this field is not used, that Sender will be identified in this field in any subsequent messages as the ordering institution. This field must be forwarded to the beneficiary institution. The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the ordering financial institution has no BIC. 6. Field 53a: Sender's Correspondent FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender instructs the Receiver to transfer funds between two accounts owned by the Sender and serviced by the Receiver, this field must be used with option B to identify the account to be debited.

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Category 2 - Financial Institution Transfers

If there is no direct account relationship, in the currency of the transaction, between the Sender and the Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present. When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field 54a, if present. A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the Sender's correspondent and a branch of the Receiver, and the Sender intends to send a cover message to the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a. In all other cases, when field 53a is present, a cover message, ie, MT 202/203 or equivalent nonSWIFT, must be sent to the financial institution identified in field 53a. When field 53B is used to specify a branch city name, it must always be a branch of the Sender. The absence of fields 53a and 54a implies that the single direct account relationship between the Sender and Receiver, in the currency of the transfer, will be used. The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transaction and the correspondent relationship between the Sender and the Receiver relative to that currency. 7. Field 54a: Receiver's Correspondent FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

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May 2005 Standards Release

MT 202

The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender and Receiver, in the currency of the transfer, will be used. In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field 53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim reimbursement from its branch. If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiver will claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer and the relationship between the Sender and the Receiver. In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in field 54a. A branch of the Sender must not appear in field 54a. If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the Receiver, field 54a must not be present. Field 54a containing the name of a financial institution other than the Receiver's branch must be preceded by field 53a; the Receiver will be paid by the financial institution in field 54a. The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transaction and the correspondent relationship between the Sender and the Receiver relative to that currency. 8. Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the party between the Receiver and the account with institution through which the transaction must pass.

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Category 2 - Financial Institution Transfers

CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC)

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May 2005 Standards Release

MT 202

IN IT PT RT RU SC SW SW ZA

11!c 10!n 8!n 9!n 6!n 3..5n 6!n 6!n

Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

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Category 2 - Financial Institution Transfers

9.

Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Conditional (C1) DEFINITION This field identifies the financial institution, when other than the Receiver, which will pay or credit the beneficiary institution. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

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May 2005 Standards Release

MT 202

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations.(Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

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61

Category 2 - Financial Institution Transfers

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 10. Field 58a: Beneficiary Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field specifies the financial institution which has been designated by the ordering institution as the ultimate recipient of the funds being transferred. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES 5!n 6!n 8!n 9!n 8..9n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code

62

May 2005 Standards Release

MT 202

FW GR HK IE IN IT PT RT SC ZA

without 9 digit code Pay by Fedwire 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

May 2005 Standards Release

63

Category 2 - Financial Institution Transfers

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by the Receiver, option A must be used to specify the account to be credited and the name of the Sender. It is strongly recommended that when clearing payments take precedence over book transfer and book transfer is requested, Party Identifier be used to specify the account of the beneficiary. When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 11. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 /8c/[additional information]

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May 2005 Standards Release

MT 202

Lines 2-6

[//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF INS INT PHON PHONBEN PHONIBK REC TELE TELEBEN TELEIBK Instructions following are for the account with institution Information following is for the beneficiary The instructing institution which instructed the Sender to execute the transaction Instructions following are for the intermediary Please advise account with institution by phone Please advise/contact beneficiary/claimant by phone Please advise intermediary by phone Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the beneficiary/claimant by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field.

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65

Category 2 - Financial Institution Transfers

It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash.

MT 202 Examples
Example 1 MT 202 as a Cover Payment Narrative Value 27 May 1998, Franz Holzapfel G.m.b.H. orders Bank Austria, Vienna, to pay pounds sterling 1,285.40 into H.F. Janssen's account (number 125-00698) with ABN Amro Bank, Amsterdam. Bank Austria sends two SWIFT messages: A. A customer transfer request to ABN Amro Bank, Amsterdam, using reference 494934/DEV. B. A cover message for the Pounds Sterling payment, which is provided through its account number 15158000 at Midland Bank, London.

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MT 202

Information Flow

Ordering Customer 50

Franz Holzapfel GmbH Vienna

Sender (Message B MT 202) Message A
MT

Bank Austria Vienna

Sender's Correspondent

53a

MT 103

Midland Bank London (Receiver of MT 202)

Receiver

Message A SWIFT MT 103 Single Customer CreditTransfer SWIFT Message, MT 103

Explanation Sender Message type Receiver Message text Transaction reference number Bank operation code Value date/currency code/amount Currency/Instructed Amount BKAUATWW 103 ABNANL2A

Format

:20:494934/DEV :23B:CRED :32A:980527GBP1285,40 :33B:GBP1285,40

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D0020004

ABN Amro Bank Amsterdam (Field 58a of MT 202)

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Explanation Ordering customer Sender's correspondent (1) Beneficiary customer Details of charges End of message text/trailer

Format :50K:FRANZ HOLZAPFEL GMBH VIENNA :53A:MIDLGB22 :59:/125-00698 H.F. JANSSEN LEDEBOERSTRAAT 27 AMSTERDAM :71A:SHA

Note: (1) Field 53A indicates the institution which is to provide the funds to the Receiver on behalf of the Sender.

Message B SWIFT MT 202 Cover Message Information Flow

Sender

Bank Austria Vienna

Message B
MT

MT 202 (Message A MT 103) Receiver Midland Bank London (Field 53a in MT 103)

Beneficiary Institution

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D0020005

58a

ABN Amro Bank Amsterdam (Receiver of MT 103)

MT 202

SWIFT Message, MT 202

Explanation Sender Message type Receiver Message Text Transaction reference number Related reference (1) Value date/currency code/amount Account used for reimbursement Beneficiary institution End of message text/trailer Note: (1) The related reference is the TRN of the MT 100 Customer Transfer. BKAUATWW 202 MIDLGB22

Format

:20:213804/887 :21:494934/DEV :32A:980527GBP1285,40 :53B:/15158000 :58A:ABNANL2A

Example 2 MT 202 with Time Indication Narrative On 5 January, a CLS settlement member (BANKGB2L) receives an instruction from CLS Bank to fund JPY 5,000,000 by 07.00 AM CET to CLS Bank. BANKGB2L sends an MT 202 to their JPY nostro correspondent (BANKJPJT), indicating that the funds need to be credited to CLS Bank by 07.00 AM CET.

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Information Flow

MT300

BANKGB2L

MT300

BANKUS33

MT202

Pay in Schedule

CLS Bank

BANKJPJT

MT202 or local clearing equivalent

SWIFT Message In the MT 202 which BANKGB2L sends to its JPY correspondent BANKJPJT, it can indicate the time by which BANKJPJT has to credit the funds to CLS bank as follows: :13C:/CLSTIME/0700+0100 whereby • • 0700 is the time by which the funds have to be credited to CLS Bank. By convention CLS time instructions are quoted in CET. +0100 is the offset (during wintertime) of CET against UTC.

Upon receipt of the MT 202, BANKJPJT can recalculate the CET time indication into its local time by comparing the offset in 13C to its own offset against UTC. Japan is UTC +0900, therefore BANKJPJT knows it has to process the instruction before 15.00 local time in Japan.

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D0020021

Central Bank of Japan

MT 202

Offsets of local delta time zones against UTC are published in the green section of the BIC directory.

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MT 203 Multiple General Financial Institution Transfer
MT 203 Scope
This multiple message is sent by or on behalf of the ordering institution directly, or through correspondent(s), to the financial institution(s) of several beneficiary institution(s). The message contains several transactions. It is used to order the movement of funds to each beneficiary institution. This message may also contain order(s) for the movement of the Sender's own funds in favour of itself. This is the case when the Receiver services multiple accounts for the Sender and the funds are to be transferred between these accounts. In addition, it can be sent to a financial institution to debit an account of the Sender serviced by the Receiver and to credit an account owned by the Sender at an institution specified in field 57a.

MT 203 Format Specifications
The MT 203 consists of two types of sequences: • The first sequence provides details of the transaction between the Sender and Receiver, ie, the value date and total amount to be transferred, as well as any other information about this transaction, as necessary. The second sequence must appear at least twice and, in order to expedite processing, not more than ten times. It provides details of each transaction between the Receiver and a financial institution to which the funds will be transferred. Each sequence includes a TRN, the reference of the related transaction, the amount and currency code to be transferred, the identification of the beneficiary institution and any other institution(s) through which the funds will pass and any other information about the transaction, as necessary.

MT 203 Multiple General Financial Institution Transfer
Status M M O O O O Tag 19 30 52a 53a 54a 72 Sum of Amounts Value Date Ordering Institution Sender's Correspondent Receiver's Correspondent Sender to Receiver Information Field Name 17d 6!n A or D A, B or D A, B or D 6*35x Content/Options No. 1 2 3 4 5 6

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MT 203

Status -----> M M M O O M O -----|

Tag

Field Name

Content/Options

No.

20 21 32B 56a 57a 58a 72

Transaction Reference Number Related Reference Currency Code, Amount Intermediary Account With Institution Beneficiary Institution Sender to Receiver Information

16x 16x 3!a15d A or D A, B or D A or D 6*35x

7 8 9 10 11 12 13

M = Mandatory O = Optional

MT 203 Network Validated Rules
C1 C2 C3 C4 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error code(s): C01). The currency code in the amount field 32B must be the same for all occurrences of this field in the message (Error code(s): C02). The repetitive sequence must appear at least twice, but not more than ten times (Error code(s): T11, T10). If field 56a is present in a transaction, then field 57a must also be present (Error code(s): C81).

MT 203 Usage Rules
• • All parties to the transactions must be financial institutions. If the Sender wishes to instruct the Receiver to debit its account serviced by the Receiver and to credit one of its several accounts at an institution specified in field 57a, field 58A in the related sequence must contain the number of the account to be credited and the name of the Sender. If the Sender wishes to instruct the Receiver that funds are to be moved between two accounts owned by the Sender and serviced by the Receiver, field 53B must specify the

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number of the account to be debited and field 58A, in the sequence relating to this order, must specify the number of the account to be credited and the name of the Sender. • Each transfer of funds between the ordering institution and a beneficiary institution is always related to another transaction. Field 21 must refer to this transaction.

MT 203 Field Specifications
1. Field 19: Sum of Amounts FORMAT 17d PRESENCE Mandatory DEFINITION This field contains the sum of all amounts appearing in each occurrence of field 32B in the message. NETWORK VALIDATED RULES The integer part of the Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32B (Error code(s): C03, T40, T43). 2. Field 30: Value Date FORMAT 6!n PRESENCE Mandatory DEFINITION This field specifies the value date for all transactions in the message. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). (Date) (Amount)

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3.

Field 52a: Ordering Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the ordering institution when other than the Sender of the message. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option D:

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AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW

5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender of an initial MT 203 message is also the ordering institution ie, this field is not used, that Sender will be identified in this field in any subsequent messages as the ordering institution. This field must be forwarded to each beneficiary institution. The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the ordering financial institution has no BIC.

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MT 203

4.

Field 53a: Sender's Correspondent FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender instructs the Receiver to transfer funds between two accounts owned by the Sender and serviced by the Receiver, this field must be used with option B to identify the account to be debited. The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender and Receiver, in the currency of the transfer, will be used. If there is no direct account relationship, in the currency of the transaction, between the Sender and the Receiver (or branch of the Receiver when specified in field 54a), then field 53a must be present. When field 53a is present and contains a branch of the Sender, the need for a cover message is dependent on the currency of the transaction, the relationship between the Sender and the Receiver and the contents of field 54a, if present. A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the Sender's Correspondent and a branch of the Receiver, and the Sender

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intends to send a cover message to the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a. In all other cases, when field 53a is present, a cover message, ie, MT202/203 or equivalent nonSWIFT, must be sent to the financial institution identified in field 53a. When field 53B is used to specify a branch city name, it must always be a branch of the Sender. The use and interpretation of fields 53a and 54a is, in all cases, dictated by the currency of the transaction and the correspondent relationship between the Sender and Receiver relative to that currency. 5. Field 54a: Receiver's Correspondent FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the branch of the Receiver or another financial institution at which the funds will be made available to the Receiver. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender and Receiver, in the currency of the transfer, will be used. In those cases where field 54a contains a branch of the Receiver, and is not preceded by field 53a, or field 53a contains an account of the Sender serviced by the Receiver's branch, the Receiver will claim reimbursement from its branch.

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MT 203

If field 54a contains a branch of the Receiver and field 53a contains a branch of the Sender, the Receiver will claim reimbursement from its branch or will be paid by its branch, depending on the currency of the transfer and the relationship between the Sender and the Receiver. In all other cases where field 54a contains a branch of the Receiver, the Receiver will be paid by its branch in field 54a. A branch of the Sender must not appear in field 54a. If the branch of the Sender or other financial institution specified in field 53a is also the account servicer for the Receiver, field 54a must not be present. Field 54a containing the name of a financial institution other than the Receiver's branch must be preceded by field 53a; the Receiver will be paid by the financial institution in field 54a. The use and interpretation of fields 53a and 54a is in all cases dictated by the currency of the transaction and the correspondent relationship between the Sender and Receiver relative to that currency. 6. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party identified in the field. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF INS Instructions following are for the account with institution Information following is for the beneficiary The instructing institution which instructed the Sender to execute the transaction

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INT PHON PHONBEN PHONIBK REC TELE TELEBEN TELEIBK

Instructions following are for the intermediary Please advise account with institution by phone Please advise/contact beneficiary/claimant by phone Please advise intermediary by phone Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the beneficiary/claimant by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash. 7. Field 20: Transaction Reference Number FORMAT 16x

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MT 203

PRESENCE Mandatory DEFINITION The Transaction Reference Number (TRN) specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES A different TRN must be assigned to each transaction in the message. 8. Field 21: Related Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field contains a reference to the related transaction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES If the related message is an MT 103 Single Customer Credit Transfer, this field will contain the field 20 Sender’s Reference of that MT 103. In all other cases, this field will contain a reference to the related transaction which is meaningful to the beneficiary institution, eg, the common reference in an MT 300 Foreign Exchange Confirmation, field 21 of an MT 202 General Financial Institution Transfer or MT 400 Advice of Payment. If the Sender is not the originator of the transaction and no related reference is received, the code NONREF must be used in this field.

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9.

Field 32B: Currency Code, Amount FORMAT Option B PRESENCE Mandatory DEFINITION This field specifies the currency and amount to be transferred for the transaction in the sequence. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 3!a15d (Currency) (Amount)

10.

Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the party between the Receiver and the account with institution through which the transaction must pass. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:

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MT 203

AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA

5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement

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Category 2 - Financial Institution Transfers

RU SC SW SW ZA

9!n 6!n 3..5n 6!n 6!n

Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

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MT 203

11.

Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Conditional (C4) DEFINITION This field specifies the financial institution, when other than the Receiver, which will pay or credit the beneficiary institution. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

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CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

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MT 203

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 12. Field 58a: Beneficiary Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field specifies the financial institution which has been designated by the ordering institution as the ultimate recipient of the funds being transferred. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES 5!n 6!n 8!n 9!n 8..9n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code

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FW GR HK IE IN IT PT RT SC ZA

without 9 digit code Pay by Fedwire 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

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MT 203

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender instructs the Receiver to either credit one of several accounts owned by the Sender at an institution specified in field 57a, or transfer funds between two accounts owned by the Sender and serviced by the Receiver, option A must be used in the related sequence to specify the account to be credited and the name of the Sender. It is strongly recommended that in those cases where clearing payments take precedence over book transfer and book transfer is requested, the Party Identifier be used to specify the account number of the beneficiary institution. When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 13. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used:

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Line 1 Lines 2-6

/8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or other party specified. This information is relevant to the specific transaction in the sequence. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF INS INT PHON PHONBEN PHONIBK REC TELE TELEBEN TELEIBK Instructions following are for the account with institution Information following is for the beneficiary The instructing institution which instructed the Sender to execute the transaction Instructions following are for the intermediary Please advise account with institution by phone Please advise/contact beneficiary/claimant by phone Please advise intermediary by phone Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the beneficiary/claimant by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’.

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Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards'. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash.

MT 203 Examples
Narrative Value 28 May 2002, UBS, Zürich requests ABN Amro Bank, Amsterdam, to transfer euro 5,000,000 as follows:
ING Bank NV, Amsterdam in favour of Morgan Guaranty Trust Co., New York SNS Bank Nederland NV, Amsterdam in favour of Mellon Bank, London Citibank, Amsterdam in favour of Citibank, New York Dresdner Bank AG, Frankfurt EUR EUR EUR EUR 500,000 1,500,000 1,000,000 2,000,000

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Information Flow

Sender

UBS Zurich

MT

MT 203

Receiver

ABN Amro Bank Amsterdam

Account With Institution

57a ING Bank Amsterdam

57a SNS Bank Nederland NV Amsterdam

57a Citibank Amsterdam

Beneficiary Institution Morgan Guaranty Trust Co New York

58a

58a Mellon Bank London

58a Citibank New York Dresdner Bank Frankfurt

58a

SWIFT Message

Explanation Sender Message type Receiver Message text UBSWCHZH80A 203 ABNANL2A

Format

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D0020006

MT 203

Explanation Sum of amounts in the message Value date Transaction reference number (1) Related reference Currency code and amount Account with institution Beneficiary institution Transaction reference number (2) Related reference Currency code and amount Account with institution Beneficiary institution Transaction reference number (3) Related reference Currency code and amount Account with institution Beneficiary institution Transaction reference number (4) Related reference Currency code and amount Beneficiary institution End of message text/trailer (1) There are 4 transfer orders within the message. :19:5000000, :30:020528 :20:2345 :21:789022

Format

:32B:EUR500000, :57A:INGBNL2A :58A:MGTCUS33 :20:2346 :21:ABX2270 :32B:EUR1500000, :57A:BBSPNL2A :58A:MELNGB2X :20:2347 :21:CO 2750/26 :32B:EUR1000000, :57A:CITINL2X :58A:CITIUS33 :20:2348 :21:DRESFF2344BKAUWW :32B:EUR2000000, :58A:DRESDEFF

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MT 204 Financial Markets Direct Debit Message
Note: The use of this message type requires Message User Group (MUG) registration.

MT 204 Scope
This message is sent by an exchange or clearing house, or another financial institution to a SWIFT member or submember, to instruct the Receiver of the message to debit the account(s) of a third party specified in the message and to pay or credit the corresponding amount in favour of the Sender of the message.

MT 204 Format Specifications
The MT 204 consists of two types of sequences: • Sequence A Common Elements – Reimbursement Details, is a single occurrence sequence and contains default information which is valid for all individual transactions described in sequence B and the total amount to be reimbursed. Sequence B Transaction Details, is a repetitive sequence. Each occurrence gives the details concerning one debit.

MT 204 Financial Markets Direct Debit Message
Status Tag Field Name Content/Options No.

Sequence A Common Elements – Reimbursement Details M M M O O O 20 19 30 57a 58a 72 Transaction Reference Number Sum of Amounts Value Date Account With Institution Beneficiary Institution Sender to Receiver Information 16x 17d 6!n A, B or D A or D 6*35x 1 2 3 4 5 6

-----> Repetitive Sequence B Transaction Details M O 20 21 Transaction Reference Number Related Reference 16x 16x 7 8

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MT 204

Status M M O -----|

Tag 32B 53a 72

Field Name Transaction Amount Debit Institution Sender to Receiver Information

Content/Options 3!a15d A, B or D 6*35x

No. 9 10 11

M = Mandatory O = Optional

MT 204 Network Validated Rules
C1 C2 C3 The amount in field 19 must equal the sum of the amounts in all occurrences of field 32B (Error code(s): C01). The currency code in the amount field 32B must be the same for all occurrences of this field in the message (Error code(s): C02). The repetitive sequence must not appear more than ten times (Error code(s): T10).

MT 204 Usage Rules
• This message requires the implementation of special procedures, its use is governed by bilateral agreements between counterparties. In order to be able to send or receive this message, the interested customers need to formally request SWIFT to be activated within the FIN subapplication group which controls the use of this message.

MT 204 Field Specifications
1. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message.

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NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES This field is intended to ensure proper cross referencing of all related sequences, as well as to provide a unique reference. This reference should normally be quoted in any related reimbursement payments, eg, MT 202 General Financial Institution Transfer, MT 910 Confirmation of Credit and/or MT 950 Statement Message when reimbursement is by a single net amount. 2. Field 19: Sum of Amounts FORMAT 17d PRESENCE Mandatory DEFINITION This field specifies the sum of the amounts appearing in each occurrence of field 32B. NETWORK VALIDATED RULES The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32B (Error code(s): C03, T40, T43). 3. Field 30: Value Date FORMAT 6!n PRESENCE Mandatory DEFINITION This field specifies the value date which the Receiver is requested to apply to all individual transactions in the message. This value will, subject to bilateral agreement, determine the value date to be applied to the reimbursement made by the Receiver in favour of the Sender of the message. (Date) (Amount)

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MT 204

NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). 4. Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field identifies the financial institution at which the Sender wishes to receive reimbursement from the Receiver. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code

without 9 digit code Pay by Fedwire

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RT SC ZA 6!n 6!n

Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05).

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MT 204

USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //RT, //IN or //CP is used, it should appear only once and in the first of the fields 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 5. Field 58a: Beneficiary Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field identifies the beneficiary institution, which is always the Sender. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:

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AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA

5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement

100

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MT 204

RU SC SW SW ZA

9!n 6!n 3..5n 6!n 6!n

Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //RT, //IN or //CP is used, it should appear only once and in the first of the fields 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 6. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 /8c/[additional information]

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Lines 2-6

[//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party identified in the field. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF CUST CUSTMAR CUSTVAR HOUSE HOUSEMAR HOUSEVAR METALS MKTMAR MKTMKR MKTVAR MMPLDG OPTPREM REC TENDER Instructions following are for the account with institution Information following is for the beneficiary The amount to be debited corresponds to a margin call on segregated customer (client) trades/account The amount to be debited corresponds to initial/original margin on customer trades (customer account margin) The amount to be debited corresponds to variation margin on customer trades (customer account variation) The amount to be debited corresponds to a margin call on house trades (proprietary funds) The amount to be debited corresponds to initial/original margin on house trades (house account margin) The amount to be debited corresponds to variation margin on house trades (house account variation) Metals call The amount to be debited corresponds to initial/original margin on market-maker (specialist) trades/account (market-maker account margin) The amount to be debited corresponds to a margin call on market-maker (specialist) trades/account The amount to be debited corresponds to variation margin on market-maker (specialist) trades/account (market-maker account variation) Market-maker pledge Options premium Instructions following are for the Receiver The amount to be debited corresponds to a payment in respect of a tender (delivery)

102

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MT 204

VARIATN XMGN XMGNMAR XMGNVAR

General variation Cross-margin account (covers positions hedged, offset or spread over two exchanges) Cross-margin account margin (for initial/original margin) Cross-margin account margin (for variation margin)

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter Euro – Impact on Category 2 Message Standards. 7. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the specific transaction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26).

May 2005 Standards Release

103

Category 2 - Financial Institution Transfers

USAGE RULES This reference should normally be quoted in any related reimbursement payments, eg, MT 202 General Financial Institution Transfer, MT 910 Confirmation of Credit and/or MT 950 Statement Message when reimbursement is by individual amount(s), sent to the Sender. 8. Field 21: Related Reference FORMAT 16x PRESENCE Optional DEFINITION This field contains a reference attributed by the debit institution to the related transaction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES This reference would normally be quoted in any related MT 900 Confirmation of Debit or MT 950 Statement Message, sent to the debit institution. 9. Field 32B: Transaction Amount FORMAT Option B PRESENCE Mandatory DEFINITION This field specifies the currency and the amount to be debited to the debit institution identified in field 53a of the same sequence. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 3!a15d (Currency) (Amount)

104

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MT 204

10.

Field 53a: Debit Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field specifies the financial institution which is to be debited with the transaction amount. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES Optional Party Identifier may be used to specify the account number to be debited. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the debit institution cannot be identified by a BIC, and when there is a bilateral agreement between the Sender and Receiver permitting its use. Unless qualified by an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 11. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 /8c/[additional information]

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Category 2 - Financial Institution Transfers

Lines 2-6

[//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party specified. This information is relevant to the specific transaction in the sequence. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF CUST CUSTMAR CUSTVAR HOUSE HOUSEMAR HOUSEVAR METALS MKTMAR MKTMKR MKTVAR MMPLDG OPTPREM REC TENDER Instructions following are for the account with institution Information following is for the beneficiary The amount to be debited corresponds to a margin call on segregated customer (client) trades/account The amount to be debited corresponds to initial/original margin on customer trades (customer account margin) The amount to be debited corresponds to variation margin on customer trades (customer account variation) The amount to be debited corresponds to a margin call on house trades (proprietary funds) The amount to be debited corresponds to initial/original margin on house trades (house account margin) The amount to be debited corresponds to variation margin on house trades (house account variation) Metals call The amount to be debited corresponds to initial/original margin on market-maker (specialist) trades/account (market-maker account margin) The amount to be debited corresponds to a margin call on market-maker (specialist) trades/account The amount to be debited corresponds to variation margin on market-maker (specialist) trades/account (market-maker account variation) Market-maker pledge Options premium Instructions following are for the Receiver The amount to be debited corresponds to a payment in respect of a tender (delivery)

106

May 2005 Standards Release

MT 204

VARIATN XMGN XMGNMAR XMGNVAR

General variation Cross-margin account (covers positions hedged, offset or spread over two exchanges) Cross-margin account margin (for initial/original margin) Cross-margin account margin (for variation margin)

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’.

MT 204 Examples
Example 1 The Exchange and the Member have a Common Correspondent Bank Narrative The Chicago Mercantile sends an MT 204 to Northern Trust with the instruction to debit the account of Merrill Lynch and to credit its account 1234-ABC, with value date September 21st 1998.

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Category 2 - Financial Institution Transfers

Information Flow

Sender and Beneficiary Institution (58a) (MT 910 Confirmation of Credit)

The Chicago Mercantile Exchange

Merril Lynch New York

MT

53a MT 204

(MT 900 Confirmation of Debit) Receiver Northern Trust Chicago

SWIFT Message, MT 204

Explanation Sender Message type Receiver Message text Message reference number Sum of amounts Value date Beneficiary institution Transaction reference number Related reference :20:XCME REF1 :19:50000, :30:980921 XCMEUS4C 204 CNORUS44

Format

:58A:/1234-ABC XCMEUS4C :20:XCME REF2 :21:MANDATEREF1

108

May 2005 Standards Release

D0020007

MT 204

Explanation Transaction amount Debit institution End of message text/trailer

Format :32B:USD50000, :53A:MLNYUS33

The common correspondent bank sends confirmations of credit and debit to the exchange (MT 910) and exchange member (MT 900) as shown below: SWIFT Message, MT 910, Confirmation of Credit

Explanation Sender Message type Receiver Message text Transaction reference number Related reference Account identification Value date/currency code/amount Ordering institution End of message text/trailer :20:MB REF A :21:XCME REF1 CNORUS44 910 XCMEUS4C

Format

:25:ACCOUNT ID OF XCME :32A:980921USD50000, :52A:XCMEUS4C

SWIFT Message, MT 900, Confirmation of Debit

Explanation Sender Message type Receiver Message text CNORUS44 900 MLNYUS33

Format

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Category 2 - Financial Institution Transfers

Explanation Transaction reference number Related reference Account identification Value date/currency code/amount Ordering institution End of message text/trailer :20:MB REF B

Format

:21:MANDATEREF1 :25:ACCOUNT ID OF MLNY :32A:980921USD50000, :52A:XCMEUS4C

Example 2 The Exchange does not want to use the account relationship with the common correspondent and wants the funds to be transferred to another institution Narrative The Chicago Mercantile Exchange asks its member Merrill Lynch International Bank, New York to put up a margin of 50,000 USD. The Northern Trust Company is the settlement bank of Merrill Lynch at the Chicago Mercantile Exchange. The Chicago Mercantile sends an MT 204 to Northern Trust with the instruction to debit the account of Merrill Lynch and to credit its account serviced by First National Bank of Chicago in Chicago with a value date September 21st, 1998.

110

May 2005 Standards Release

MT 204

Information Flow

Sender and Beneficiary Institution (58a) (MT 910 Confirmation of Credit)

The Chicago Mercantile Exchange

Merril Lynch New York 53a

MT

First Chicago Chicago 57a

MT 204

(MT 900 Confirmation of Debit) Receiver

CHIPS

SWIFT Message, MT 204

Explanation Sender Message type Receiver Message text Transaction reference number Sum of amounts Value date Account with institution Message reference number Related reference :20:XCME REF1 :19:50000, :30:980921 :57A:FNBCUS44 :20:XCME REF2 XCMEUS4C 204 CNORUS44

Format

:21:MANDATEREF1

May 2005 Standards Release

D0020008

Northern Trust Chicago

111

Category 2 - Financial Institution Transfers

Explanation Transaction amount Debit institution End of message text/trailer

Format :32B:USD50000, :53A:MLNYUS33

112

May 2005 Standards Release

MT 205

MT 205 Financial Institution Transfer Execution
MT 205 Scope
This message is sent by the Receiver of a category 2 transfer message, ie, MT 200, 201, 202, 203 or 205, directly or through correspondent(s), to another financial institution located in the same country as the Sender. It is used to further transmit a funds transfer instruction domestically.

MT 205 Format Specifications
MT 205 Financial Institution Transfer Execution
Status M M -----> O -----| M M O O O M O 32A 52a 53a 56a 57a 58a 72 Value Date, Currency Code, Amount Ordering Institution Sender's Correspondent Intermediary Account With Institution Beneficiary Institution Sender to Receiver Information M = Mandatory O = Optional 6!n3!a15d A or D A, B or D A or D A, B or D A or D 6*35x 4 5 6 7 8 9 10 13C Time Indication /8c/4!n1!x4!n 3 Tag 20 21 Field Name Transaction Reference Number Related Reference 16x 16x Content/Options No. 1 2

MT 205 Network Validated Rules
C1 If field 56a is present, then field 57a must also be present (Error code(s): C81).

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MT 205 Field Specifications
1. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). 2. Field 21: Related Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field contains a reference to the related transaction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES If the previous message is an MT 202, 203 or 205, this field contains the field 21 Related Reference of that message. If the previous message is an MT 200 or 201, this field contains the field 20 Transaction Reference Number of that message. 3. Field 13C: Time Indication FORMAT Option C /8c/4!n1!x4!n (Code) (Time indication) (Sign) (Time offset)

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PRESENCE Optional DEFINITION This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction. CODES One of the following codes may be used, placed between slashes (‘/’):
CLSTIME RNCTIME SNDTIME The time by which the funding payment must be credited, with confirmation, to the CLS Bank’s account at the central bank, expressed in Central European Time (CET). The time at which a TARGET payment has been credited at the receiving central bank, expressed in Central European Time (CET). The time at which a TARGET payment has been debited at the sending central bank, expressed in Central European Time (CET).

NETWORK VALIDATED RULES Time indication must be a valid time expressed as HHMM (Error code(s): T38). Sign is either "+" or "-" (Error code(s): T15). Time offset is expressed as 'HHMM', where the hour component, ie, 'HH', must be in the range of 00 through 13, and the minute component, ie, 'MM', must be in the range of 00 through 59. Any 'HH' or 'MM' component outside of these range checks will be disallowed (Error code(s): T16). USAGE RULES The time zone in which Time is expressed is to be identified by means of the offset against the UTC (Coordinated Universal Time - ISO 8601). EXAMPLE Assume a financial institution in London is sending a payment instruction on 5 January related to CLS in which it indicates that money has to be funded to CLS bank by 09.15 CET. Time indication field will be completed as follows: :13C:/CLSTIME/0915+0100 Explanation: 0915 is the time by which the money has to be funded to CLS bank. It has been agreed that CLSTIME is to be indicated in CET (see codes above). + 0100 is the offset of CET against UTC in January (ie during winter time).

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If the same instruction had been sent on 10 June (ie during summer time), time indication field would have been completed as follows: :13C:/CLSTIME/0915+0200 Offsets of local time zones against UTC are published in the green section of the Bic Directory. 4. Field 32A: Value Date, Currency Code, Amount FORMAT Option A PRESENCE Mandatory DEFINITION This field specifies the value date, currency and amount to be transferred. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 5. Field 52a: Ordering Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address) 6!n3!a15d (Date) (Currency) (Amount)

PRESENCE Mandatory DEFINITION This field identifies the ordering institution from the initial message. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’):

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with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code

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SC SW SW

6!n 3..5n 6!n

UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES If there was no ordering institution specified in the initial message, the Sender of that message will be the ordering institution in this message. This field must be forwarded to the beneficiary institution. The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the ordering financial institution has no BIC. 6. Field 53a: Sender's Correspondent FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the account or branch of the Sender or another financial institution through which the Sender will reimburse the Receiver.

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NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES In those cases where there are multiple direct account relationships, in the currency of the transaction, between the Sender and the Receiver, and one of these accounts is to be used for reimbursement, the account to be credited or debited must be indicated in field 53a, using option B with the account number line only. If there is no direct account relationship, in the currency of the transaction, between the Sender and the Receiver, then field 53a must be present. A branch of the Receiver may appear in field 53a if the financial institution providing reimbursement is both the Sender's Correspondent and a branch of the Receiver, and the Sender intends to send a cover message to the branch of the Receiver. In this case, the Receiver will be paid by its branch in field 53a. When there is a single direct account relationship, in the currency of the transaction, between the Sender and the Receiver, and this is the account to be used for reimbursement, field 53a must not be present. When field 53B is used to specify a branch city name, it must always be a branch of the Sender. The use and interpretation of field 53a is, in all cases, dictated by the currency of the transaction and the correspondent relationship between the Sender and Receiver relative to that currency. 7. Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional

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DEFINITION This field specifies the party between the Receiver and the account with institution through which this transaction must pass. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number

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GR HK IE IN IT PT RT RU SC SW SW ZA

7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n 6!n

HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

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8.

Field 57a: Account With Institution FORMAT Option A Option B Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] [35x] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Location) (Party Identifier) (Name & Address)

PRESENCE Conditional (C1) DEFINITION This field specifies the financial institution, when other than the Receiver, which is to pay or credit the beneficiary institution. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT RT SC ZA 6!n 6!n 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

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CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction.

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Category 2 - Financial Institution Transfers

When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 9. Field 58a: Beneficiary Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Mandatory DEFINITION This field specifies the ultimate recipient of the funds being transferred. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW 5!n 6!n 8!n 9!n 8..9n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code

without 9 digit code Pay by Fedwire

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GR HK IE IN IT PT RT SC ZA

7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n

HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement UK Domestic Sort Code South African National Clearing Code

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RT RU SC SW SW ZA 9!n 6!n 3..5n 6!n 6!n 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Pay by Real Time Gross Settlement Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

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125

Category 2 - Financial Institution Transfers

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP, //IN or //RT is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. When it is necessary that an incoming SWIFT payment be made to the party in this field via real-time gross settlement (RTGS), the code //RT should appear in the optional Party Identifier. The code //RT is binding for the Receiver. If it is used with option A, it must not be followed by any other information. If it is used with option D, it may be followed by another domestic clearing code. If the initial transfer message is an MT 200 or 201, this field will be identical to the contents of field 52a in this message. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. 10. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

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PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party identified in the field. CODES One or more of the following codes may be used, placed between slashes (‘/’):
ACC BNF INS INT PHON PHONBEN PHONIBK REC TELE TELEBEN TELEIBK Instructions following are for the account with institution Information following is for the Beneficiary The instructing institution which instructed the Sender to execute the transaction Instructions following are for the intermediary Please advise account with institution by phone Please advise/contact beneficiary/claimant by phone Please advise intermediary by phone Instructions following are for the Receiver Please advise the account with institution by the most efficient means of telecommunication Please advise the beneficiary/claimant by the most efficient means of telecommunication Please advise the intermediary by the most efficient means of telecommunication

The codes /REJT/ or /RETN/ may be used in this field. If either of these codes is used in the first position of the first line, it is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field.

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127

Category 2 - Financial Institution Transfers

Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash.

MT 205 Examples
Narrative Deutsche Bank, Frankfurt, receives the following MT 202 General Financial Institution Transfer from UBS, Zürich.

Explanation Sender Message Type Receiver Message Text Transaction Reference Number Related Reference Value Date/Currency Code/Amount Account With Institution Beneficiary Institution End of Message Text/Trailer

Format UBSWCHZH80A 202 DEUTDEFF

:20:203998988 :21:394882 :32A:020528EUR1121,50 :57A:DEUTDEHH :58A:OSCBDEH1

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Information Flow

Ordering Institution 52a (MT 202)

UBS Zurich

Sender

Deutsche Bank Frankfurt (Receiver of MT 202)
MT

MT 205

Receiver

Deutsche Bank Hamburg (Field 57a in MT 202)

Beneficiary Institution 58a

As a result of this message, Deutsche Bank, Frankfurt, sends an MT 205 to Deutsche Bank, Hamburg: SWIFT Message

Explanation Sender Message Type Receiver Message Text Transaction reference number Related reference (1)

Format DEUTDEFF 205 DEUTDEHH

:20:3004GH3882 :21:394882

May 2005 Standards Release

D0020009

Otto M. Schroder Bank Hamburg

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Explanation Value date/currency code/amount Ordering institution (2) Beneficiary Institution End of Message Text/Trailer

Format :32A:020528EUR1121,50 :52A:UBSWCHZH80A :58A:OSCBDEH1

Note: (1) Related reference of the transaction which resulted in this message, ie, field 21 of the MT 202. (2) As there was no ordering institution in the MT 202 which resulted in this message, the Sender of the MT 202 will become the ordering institution.

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MT 206

MT 206 Cheque Truncation Message
Note: The use of this message type requires Message User Group (MUG) registration.

MT 206 Scope
This message is sent from the beneficiary's financial institution, directly or through one or more other financial institutions, to the issuer's financial institution to convey information about one or more truncated cheques, in the same currency. It is used to debit or obtain credit under usual reserve. In case of travellers cheques, this message may also be sent to a travellers cheque issuer. This message may not be used to convey information about truncated cheques sent on a collection basis.

MT 206 Format Specifications
The MT 206 consists of three types of sequences: • • • Sequence A Common Elements is a non-repetitive sequence and contains information applicable to all individual cheques detailed in sequence B. Sequence B Cheque Details is a repetitive sequence where each occurrence provides details of an individual cheque. Sequence C Settlement Information is a non-repetitive sequence and contains settlement information applicable to all cheques detailed in sequence B.

MT 206 Cheque Truncation Message
Status Tag Field Name Content/Options No.

Mandatory Sequence A Common Elements M M M O O 20 28E 23E 17A 52a Sender's Reference Message Index/Total Cheque Type Cheque Truncation Indicator Safekeeper 16x 5n/4!c 4!c[/30x] 1!a A, C or D 1 2 3 4 5

-----> Mandatory Repetitive Sequence B Cheque Details

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Status M O O O M O O O O O O O -----|

Tag 44A 21D 21E 29a 32J 58a 25 26E 30 39C 52a 72

Field Name Transaction Reference Number Cheque Number Cheque Reference Number Code Line Cheque Amount Issuer's Financial Institution Issuer's Account Number/Code Represented Cheque Entry Date of Issue/Encashment Place of Issue/Encashment Safekeeper Sender to Receiver Information 65x 35x 35x

Content/Options

No. 6 7 8 9 10 11 12 13 14 15 16 17

F or G 15d A, C or D 35x 2n 6!n 4*35x A, C or D 6*35x

Mandatory Sequence C Settlement Information O O O O 32A 57a 58B 19 Value Date, Currency Code and Sum of Settlement Amounts Account With Institution (for Settlement) 6!n3!a15d A, C or D 18 19 20 21

Beneficiary Institution's Account (for Settlement) [/1!a][/34x] [35x] Settlement Amount M = Mandatory O = Optional 17d

MT 206 Network Validated Rules
C1 C2 If field 23E contains TRAV, then either field 21D or field 29a must be present, but not both (Error code(s): E11). If field 23E contains GENC or OTHR and there is no field 29a, the following fields must be present (Error code(s): E19):

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• • •

field 58a Issuer's Financial Institution field 25 Issuer's Account Number/Code field 21D Cheque Number
If field 23E in sequence A contains GENC or OTHR, and if field 29a in sequence B is … Not present then field 21D in sequence B is … Mandatory then field 25 in sequence B is … Mandatory then field 58a in sequence B is … Mandatory

If field 29a is present, the following fields must not be present (Error code(s): E20): • • field 58a Issuer's Account Number/Code field 21D Cheque Number
If field 23E in sequence A contains GENC or ‘OTHR’ and if field 29a in sequence B is … Present then field 21D in sequence B is … Not allowed then field 25 in sequence B is … Optional then field 58a in sequence B is … Not allowed

C3

When field 52a is present in sequence A, it must not be present in any occurrence of sequence B. Conversely, if field 52a is present in any occurrence of sequence B, it must not be present in sequence A (Error code(s): D64).
If field 52a in sequence A is … Present Not present If field 52a in any occurrence of sequence B is … Present Not present then field 52a in any occurrence of sequence B is … Not allowed Optional

then field 52a in sequence A is … Not allowed Optional

C4

Field 32A must only be present if field 28E contains the code LAST or ONLY (Error code(s): E21).

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If field 28E in sequence A contains … LAST MORE ONLY

then field 32A in sequence C is … Mandatory Not allowed Mandatory

C5

Field 19 must only be present if field 28E contains the code MORE or LAST (Error code(s): E22).
If field 28E in Sequence A contains … LAST MORE ONLY then field 19 in Sequence C is … Mandatory Mandatory Not allowed

C6

When field 28E contains ONLY, the amount specified in field 32A must be equal to the sum of all occurrences of field 32J in sequence B (Error code(s): E23). When field 28E contains MORE or LAST, field 19 must be equal to the sum of all occurrences of field 32J in sequence B (Error code(s): E24).

MT 206 Usage Rules
• The MT 206 can only be sent and/or received by financial institutions which have registered with SWIFT to send and/or receive the MT 206/MT 256. If a registered user receives an MT 206 without bilateral agreement with the Sender, the Receiver should query the message according to normal banking practice. When sending a large number of truncated cheques, it may not be possible to fit them all into one MT 206. In that case: Additional MTs 206 must be sent, and they are chained using field 28E. All fields present in sequence A except field 28E must be repeated and contain exactly the same content. Field 32A of the last message must contain the sum of all fields 19 of all chained messages. Field 23E must contain the same value in all messages. The currency code in fields 32A of all messages must be the same.

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MT 206

The use of this message is subject to bilateral/multilateral agreements between Sender/beneficiary's financial institution and Receiver of the truncation message and where necessary, between the issuer's financial institution and the issuer.

MT 206 Field Specifications
1. Field 20: Sender's Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the instruction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :20:Ref254 2. Field 28E: Message Index/Total FORMAT Option E PRESENCE Mandatory DEFINITION This field specifies the message number and where it is positioned in a chain of messages, or it specifies that it is the only message. CODES Total must contain one of following codes (Error code(s): T97): 5n/4!c (Message Index) (Total)

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LAST MORE ONLY

This is the last message in a chain of messages. More messages are following; this is not the last message in the chain of messages. This is the one and only message, ie, no chain of messages.

USAGE RULES It is recommended that messages be sent in sequence. All messages belonging to the same sequence must have exactly the same sender's reference in field 20. When more than one message is needed to convey all information, this field chains different messages by specifying the sequence number in the total number of messages. EXAMPLE The first message is :20:Ref254 :28E:1/MORE and the second is :20:Ref254 :28E:2/MORE and the third and last message is :20:Ref254 :28E:3/LAST 3. Field 23E: Cheque Type FORMAT Option E PRESENCE Mandatory DEFINITION This field specifies the type of cheque that has been truncated. CODES Type must contain one of following codes (Error code(s): T47): 4!c[/30x] (Type) (Other Code)

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GENC OTHR TRAV

General cheques. Other type of cheque. This will be followed by a bilaterally agreed code to specify the type of cheque. Travellers cheques.

NETWORK VALIDATED RULES Subfield 2, Other Code, may only be used after the code OTHR (Error code(s): D81). USAGE RULES The code OTHR may only be used when bilaterally agreed. When used, Other Code, must also be present. EXAMPLE :23E:GENC 4. Field 17A: Cheque Truncation Indicator FORMAT Option A PRESENCE Optional DEFINITION This field specifies whether or not the paper cheque is being sent separately. CODES Indicator must contain one of the following codes (Error code(s): T36):
N Y The paper cheque is following. The paper cheque remains at the place of truncation.

1!a

(Indicator)

USAGE RULES This field must be used if this is not covered by the bilateral/multilateral agreement and otherwise must not be present. EXAMPLE :17A:Y

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5.

Field 52a: Safekeeper FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Party Identifier) (Name & Address)

PRESENCE Conditional (C3) DEFINITION This field identifies the party at which all truncated cheques, ie, the originals, are securely stored. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option C or D:

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AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW

5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the safekeeper has no BIC. EXAMPLE :52A:GEBABEBB

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6.

Field 44A: Transaction Reference Number FORMAT Option A PRESENCE Mandatory DEFINITION This number is generated by the beneficiary's financial institution to identify the transaction that this truncated cheque represents. EXAMPLE :44A:abc-1234 65x

7.

Field 21D: Cheque Number FORMAT Option D PRESENCE Conditional (C1 and C2) DEFINITION This field contains the number of the cheque, which is normally inserted on the cheque by the issuer's financial institution. EXAMPLE :21D:000024014014612 35x

8.

Field 21E: Cheque Reference Number FORMAT Option E PRESENCE Optional DEFINITION This field contains the reference of the cheque generated by the beneficiary's financial institution. 35x

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USAGE RULES The cheque reference number is usually the archive reference (microfilm) and is as such used as a link to the physical item. EXAMPLE :21E:888014612 9. Field 29a: Code Line FORMAT Option F Option G PRESENCE Conditional (C1) DEFINITION This field contains all the information from the code line, ie, the encoded line generally located at the bottom of the cheque which in most cases can be read optically or magnetically, of the original cheque. USAGE RULES This field can be subdivided into its different parts with option G using an index to separate them, or it can be completely unstructured, untreated and unaltered using option F. It may contain any character defined in the ‘z’ character set. The ‘z’ character set contains the characters of both the ‘x’ and ‘y’ character set extended with the characters ‘@’ and ‘#’: abcdefghijklmnopqrstuvwxyz ABCDEFGHIJKLMNOPQRSTUVWXYZ 0123456789 .,-()/='+:?!'%&*<>;{ @# Cr Lf Space It is highly recommended to take great care when using the character string ‘CrLf’, since these characters are used by the network to indicate an end of field or subfield. Since option F only has 4 subfields, five ‘CrLf’ in the code line would cause a NAK by the network. Also, within option G, after a ‘CrLf’, a number and a slash are expected. 4*35z 9*1!n/33z (Full Code Line) (Index) (Partial Code Line)

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EXAMPLE Looking at the cheque from left to right, if the code line on the cheque is xxxxxx yyyyyyyyyyy zzzzzz then this field can be used as follows: with option G: :29G: 1/xxxxxx 2/yyyyyyyyyyy 3/zzzzzz with option F: :29F:xxxxxx yyyyyyyyyyy zzzzzz 10. Field 32J: Cheque Amount FORMAT Option J PRESENCE Mandatory DEFINITION This field contains the amount of the cheque being truncated (without the currency code). NETWORK VALIDATED RULES The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32A (Error code(s): C03, T40, T43). EXAMPLE :32J:10000, 11. Field 58a: Issuer's Financial Institution FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Party Identifier) (Name & Address) 15d (Amount)

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PRESENCE Conditional (C2) DEFINITION This field identifies the issuer's financial institution. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC ZA 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with options C or D:
AT AU BL CC CH CP ES 5!n 6!n 8!n 9!n 6!n 4!n 8..9n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code

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FW GR HK IE IN IT PT RU SC SW SW ZA

9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n 6!n

Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. EXAMPLE :58A:ABNANL2A 12. Field 25: Issuer's Account Number/Code FORMAT 35x PRESENCE Conditional (C2) (Account)

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DEFINITION This field identifies the issuer based on the account number appearing on the cheque. EXAMPLE :25:BE33123456789012 13. Field 26E: Represented Cheque Entry FORMAT Option E PRESENCE Optional DEFINITION This field specifies the number of times a cheque has been previously presented without being honoured. EXAMPLE :26E:1 this cheque has been presented once before 14. Field 30: Date of Issue/Encashment FORMAT 6!n PRESENCE Optional DEFINITION This field contains the date written on the cheque when it was prepared by the issuer. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). USAGE RULES In the case of travellers cheques, this is the date of encashment. EXAMPLE :30:990102 (Date) 2n (Number)

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15.

Field 39C: Place of Issue/Encashment FORMAT Option C PRESENCE Optional DEFINITION This field specifies the place where the cheque was issued. USAGE RULES In the case of travellers cheques, this is the place of encashment. EXAMPLE :39C:MANCHESTER GREAT BRITAIN 4*35x (Place)

16.

Field 52a: Safekeeper FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Account) (Party Identifier) (Name & Address)

PRESENCE Conditional (C3) DEFINITION This field identifies the party at which the truncated cheque, ie, the original, is securely stored. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL 5!n 6!n 8!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl

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CC ES FW GR HK IE IN IT PT SC

9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n

Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option C or D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

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The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the safekeeper has no BIC. EXAMPLE :52A:GEBABEBB 17. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format)

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver or another party identified in the field. CODES One or more of the following codes may be used, placed between slashes (‘/’):
MANU OTHR Manual operation (automated truncation not possible) This code is followed by a bilaterally agreed code or other bilaterally agreed structured information

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REMI STAL TRAN

This code is followed by bilaterally agreed remittance information We think this cheque is stale dated but we still ask for payment Transaction Type code (any sub-codes to be agreed upon bilaterally)

USAGE RULES Field 72 must never be used for information for which another field is intended. Each item of information contained in this field must be preceded by a code which specifically indicates the party for which it is intended. Codes must be placed between slashes and at the beginning of a line. Additional explanatory information, which may be continued on the next lines, is preceded by a double slash ‘//’. Narrative text that is not qualified by a code, must start with a double slash ‘//’ on a new line, and, should preferably be the last information in this field. It is strongly recommended to use the standard codes. However, where bilateral agreements covering the use of codes in this field are in effect, the code must conform to the structure of this field. Use of field 72, particularly with uncoded instructions, may cause delay, because in automated systems, the presence of this field will normally require manual intervention. This field may contain ERI to transport dual currencies, as explained in the chapter ‘Euro – Impact on Category 2 Message Standards’. In order to comply with the EC-directive on cross border credit transfers, the optional code word EXCH may be used to transport an exchange rate. In line with ERI, the code word EXCH is placed between slashes, followed by the exchange rate, format 12d, and terminated with another slash. EXAMPLE :72:/STAL/ 18. Field 32A: Value Date, Currency Code and Sum of Settlement Amounts FORMAT Option A PRESENCE Conditional (C4) DEFINITION This field contains the value date which is to be applied to the funds that must be debited from the Receiver's account, or credited to the Sender's account, or the account of another party as specified in the bilateral agreement (see also the checklist on value dates). This is followed by, 6!n3!a15d (Date) (Currency) (Amount)

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first the (common) currency for all the truncated cheques, and then the sum of all settlement amounts. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). USAGE RULES If messages are chained, ie, field 28E does not contain ONLY, this field must contain the sum of all occurrences of field 19 in the chained messages. EXAMPLE
message 1: :28E:1/MORE … :19:10000, message 2: :28E:2/MORE … :19:5000, message 3: :28E:3/LAST … :32A:990106USD18000, :19:3000,

or
message 1: :28E:1/ONLY … :32A:990106USD12500

19.

Field 57a: Account With Institution (for Settlement) FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Party Identifier) (Name & Address)

PRESENCE Optional

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DEFINITION This field identifies the account with institution at which the Sender wants to have the funds credited. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC ZA 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with options C or D:
AT AU BL CC CH CP ES FW GR 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code)

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HK IE IN IT PT RU SC SW SW ZA

3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n 6!n

Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES This field may only be used where the settlement is not following the same route as the cheque truncation message. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. EXAMPLE :57A:MIDLGB2L 20. Field 58B: Beneficiary Institution's Account (for Settlement) FORMAT Option B [/1!a][/34x] [35x] (Party Identifier) (Location)

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PRESENCE Optional DEFINITION This field specifies the account number of the financial institution which is the ultimate recipient of the funds being transferred. USAGE RULES The Party Identifier is to be used to specify the account to be credited, where: • • • there are multiple direct account relationships in the currency of the transaction between the Sender and account with institution one of these accounts is to be used for reimbursement there is no bilaterally agreed account.

EXAMPLE :58B:/123-45678 21. Field 19: Settlement Amount FORMAT 17d PRESENCE Conditional (C5) DEFINITION If messages are chained, ie, field 28E does not contain the code ONLY, this field contains the settlement amount for this message. NETWORK VALIDATED RULES The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32A, if present (Error code(s): C03, T40, T43). EXAMPLE :28E:9/MORE … :32J:5300 :32J:5000 … :19:10300, (Amount)

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MT 206 Mapping
Mapping of an MT 206 into a subsequent MT 206 (Receiver of first MT 206 becomes Sender of the second MT 206)

MT 206
S 20 28E ... 32A 57a 58a 19 R

MT 206
S 20 28E ... 32A 57a 58a 19 R
D0020016

Mapping of an MT 206 into a subsequent MT 202. (The Receiver of the MT 206 has a direct account relationship with the account with institution of the Sender in field 57a.)

MT 206
S 20 32A 57a 58a R

MT 202
S 20 21 32A 58a R
D0020017

Mapping of an MT 206 into a subsequent MT 202. (The Receiver of the MT 206 has no direct account relationship with the account with institution of the Sender in field 57a.)

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MT 206

MT 206
S 20 32A 57a 58a

MT 202
S 20 21 32A 57a* 58a

R*

R*
D0020018

* If there is no direct account relationship between the party specified in field 57a of the MT 206 and the Receiver of the MT 206, then the Receiver of the related MT 202 becomes the common correspondent between the party specified in field 57a of the MT 206 and the Receiver of the MT 206. The party specified in field 57a of the MT 206 becomes field 57a of the related MT 202.

MT 206 Examples
Example 1 Travellers Cheques sent via an MT 206 with an Account With Institution Narrative On December 1st 1998, Standard Bank of South Africa, Johannesburg (SBZAZAJJ), encashes and truncates the following Thomas Cook travellers cheques:
TRN Cheque 1 Cheque 2 Cheque 3 Cheque 4 Cheque 5 Cheque 6 981201ABCD123456 9812010EFGH111123 9812010IJKL235693 981201ZZZZ123456AA 981201XXXX258950 981201YYYY569333 Cheque Number GB11111111 HB22222222 EB33333333 GB66666666 HB88888888 EB99999999 Amount GBP20, GBP50, GBP10, GBP20, GBP50, GBP10,

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Standard Bank of South Africa wants the funds to be remitted on its account (555-888-9) with Natwest, London (NWBKGB2L) with value date 981207. Since Thomas Cook, London, has a multiple direct account relationship with Midland Bank, London (MIDLGB22), it will reimburse SBZAZAJJ using their account 123456 held with Midland Bank. As per its bilateral agreement, SBZAZAJJ safekeeps the original paper cheques. For the purpose of this example, two MT 206 are sent, each containing three items. Message A SWIFT MT 206 Cheque Truncation Message Information Flow

Beneficiary Presents Travellers Cheques

Tony Baloney

Sender/ Beneficiary's F.I.

(MT 910/950)

Standard Bank of South Africa Johannesburg Natwest London

Account With Institution

57

Paper Cheque (start of process)

MT

MT 206

(MT 205*) Midland Bank London

* Or its equivalent domestic clearing message

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D0020010

Receiver/ Issuer

(MT 202)

Thomas Cook London

MT 206

SWIFT Message, MT 206 (1) and (2)

Explanation Sender Message type Receiver Message text Sender's reference Message index/total Cheque type Safekeeper Transaction reference number Cheque number Cheque amount Date of issue/encashment Transaction reference number Cheque number Cheque amount Date of encashment Transaction reference number Cheque number Cheque amount Date of encashment Settlement amount End of message text/trailer SBZAZAJJ 206 (1) COOKGB22

Format

:20:981201123456AA :28E:1/MORE :23E:TRAV :52A:SBZAZAJJ :44A:981201ABCD123456 :21D:GB11111111 :32J:20, :30:981201 :44A:9812010EFGH111123 :21D:HB22222222 :32J:50, :30:981201 :44A:9812010IJKL235693 :21D:EB33333333 :32J:10, :30:981201 :19:80,

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Explanation Sender Message type Receiver Message text Sender's reference Message index/total Cheque type Safekeeper Transaction reference number Cheque number Cheque amount Date of encashment Transaction reference number Cheque number Cheque amount Date of encashment Transaction reference number Cheque number Cheque amount Date of encashment Value date, currency code and sum of settlement amounts Account with institution Beneficiary institution's account Settlement amount End of message text/trailer SBZAZAJJ 206 (2) COOKGB22

Format

:20:981201123456AA :28E:2/LAST :23E:TRAV :52A:SBZAZAJJ :44A:981201ZZZZ123456AA :21D:GB66666666 :32J:20, :30:981201 :44A:981201XXXX258950 :21D:HB88888888 :32J:50, :30:981201 :44A:981201YYYY569333 :21D:EB99999999 :32J:10, :30:981201 :32A:981207GBP160,

:57A:NWBKGB2L :58B:/555-888-9 :19:80,

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MT 206

Message B SWIFT MT 202 General Financial Institution Transfer Information Flow

Tony Baloney Presents Travellers Cheques

Beneficiary Institution

(MT 910/950) 58

Standard Bank of South Africa Johannesburg Natwest London

Account With Institution

57

MT 206 (MT 205*) Receiver Midland Bank London

Sender

MT

* Or its equivalent domestic clearing message

MT 202

SWIFT Message, MT 202

Explanation Sender Message type Receiver Message text Transaction reference number COOKGB22 202 MIDLGB22

Format

:20:IPD/00001/PAIDS

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D0020011

Thomas Cook London

159

Category 2 - Financial Institution Transfers

Explanation Related reference Value date, currency code and amount Sender's correspondent Account with institution Beneficiary institution End of message text/trailer

Format :21:981201123456AA :32A:981207GBP160, :53B:/123456 :57A:NWBKGB2L :58A:/555-888-9 SBZAZAJJ

Example 2 General Cheques sent via an MT 206 Narrative On 8 January 2002, the following cheques are truncated by the Fortis Bank, Brussels (GEBABEBB): Cheque 1: Kreissparkasse in Siegburg (WELADED1), EUR 1000, cheque number 0007206657588 account 3869999 issued on 011212 in Oostende in favour of CMB, reference 3855026. Cheque 2: Stadtsparkasse in Dusseldorf (DUSSDEDD), EUR 500, cheque number 000721111 account 45678912 issued on 011214 in Namur in favour of Sofitel Wepion, reference 3855027.
TRN Cheque 1 Cheque 2 3855026 3855027 Cheque Number 0007206657588 0000721111 Amount EUR1000, EUR500, Issuer's A/C 3869999 45678912

Handling of the cheques is centralised in Fortis Bank, Brussels which truncates these cheques and sends them that same day to its German correspondent, Westdeutsche Landesbank Girozentrale, Dusseldorf (WELADEDD). There exists a bilateral agreement between Fortis Bank, Brussels and Westdeutsche Landesbank Girozentrale, Dusseldorf. As per this agreement, for cheques in euro, the Westdeutsche’s euro account held with Fortis Bank, Brussels will be debited with value date D+4.

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Information Flow

Sender

Fortis Bank Brussels

MT

MT 206

Receiver

Westdeutsche Landesbank Girozentrale, Dusseldorf

(MT 206*) Drawee Banks Kreissparkasse Siegburg
* Equivalent of a MT 206 is sent to non-S.W.I.F.T. User

(MT 206)

SWIFT Message, MT 206

Explanation Sender Message type Receiver Message text Sender's reference Message index/total Cheque type GEBABEBB 206 WELADEDD

Format

:20:291342/0071115 :28E:1/ONLY :23E:GENC

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D0020012

Stadtsparkasse Dusseldorf

161

Category 2 - Financial Institution Transfers

Explanation Cheque truncation indicator Safekeeper Transaction reference number Cheque number Cheque amount Issuer's financial institution Issuer's Account Number/Code Transaction reference number Cheque number Cheque amount Issuer's financial institution Issuer's account number/code Value date, currency code and total settlement amount End of message text/trailer :17A:Y :52A:GEBABEBB :44A:3855026

Format

:21D:0007206657588 :32J:1000, :58A:WELADED1 :25:3869999 :44A:3855027 :21D:000721111 :32J:500, :58A:DUSSDEDD :25:45678912 :32A:020114EUR1500,

MT 206 Checklist
It is strongly recommended that the following checklist be used by financial institutions as a basis for setting up bilateral or multilateral agreements for processing truncated cheques. It is recommended that all items listed be covered in the bilateral or multilateral agreements. In order to further facilitate the setting up of these agreements, common procedures have been defined which financial institutions may choose to override. The checklist is not intended to provide an exhaustive list of items nor does SWIFT claim any responsibility for it. Topics may include:

Currency & amount
• • Specify minimum and maximum amounts per type of cheque Specify currencies accepted per type of cheque

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• •

Set out the procedure to follow when there is a discrepancy between the code line and another field, eg, the amount Unless otherwise agreed, cheque truncation messages are expressed in either the currency of the sending or the receiving country. If financial institutions wish to accept third currencies this should be bilaterally agreed.

Rules & regulations covering cheque truncation
• • • • • • • Enumerate (inter)national laws and regulations Specify regulatory reporting requirements Specify the period within which a cheque can be protested, per type of cheque/place of issue (see also ‘Dates and Time frames’) Specify data or fields in the MTs 206 and 256 that are mandatory for legal purposes and processing requirements Define stale date List the criteria for cheque truncation An existing cash letter agreement could be extended to cater for cheque truncation as well. This may simplify the new agreement.

Responsibility
• Endorsement issue – Agree on procedures to follow, eg, normally the beneficiary's financial institution must endorse that the party that cashes the cheque is the legitimate beneficial party Back of cheque – Since it is very difficult to automatically truncate this information, the truncation agreement should make it the truncating party's responsibility to ensure that the truncated cheques contain all legally required endorsements. Define the responsible parties at each stage of the whole process, eg, whether or not the beneficiary's financial institution can determine stale dated cheques. Also the agreement should establish the party responsible for verifying certain parts, eg, Code Line, of the truncated cheque. The capture and verification of the Code Line are key elements to the success of check truncation. Therefore, establish ways of avoiding bad code lines such as: using a specific control key to help manual keying when the code line is unreadable avoiding double truncation of a cheque through automatic checking at the point of capture.

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Paper cheque
• • • • Specify which party must safekeep the original Agree the period the original must be kept Agree whether or not the cheque (or a copy) must be sent to the drawee bank and if so when Agree the route the paper cheque must follow, if any (where it differs from the truncation route).

Supported types of truncated cheques
• Agree bilateral codes to indicate the type of electronic cheque/model/format.

Charges
• • • Define the types of charges, per type of cheque, the currency and the amount Define the charging period, eg, once a month Unless otherwise agreed, charges will always be expressed in the same currency as the transaction amount(s) and settlement amount of the message.

Settlement
• Where there is a direct account relationship between the Sender and Receiver of the MT 206, ie, field 57a is not present, the MT 206 can be used as a financial message to request to credit the account of the Sender automatically. If field 57a is present, an MT 202 must be sent to the party specified in that field. Whatever the agreement, transactions contained in a message will always be booked as a single entry.

Administration
• Define the contact address, eg, postal address, department, telephone number, fax number, to be used in the event of questions.

Dates and Time frames
• Agree on the time frame required by the Receiver of the MT 206 to execute the payment of valid truncated cheques. This time frame starts at an agreed cut-off time for receipt of incoming messages by the Receiver.

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MT 206

Messages received before the cut-off time, will receive final settlement on a pre-agreed day which is a (number of) day(s) following the day of receipt (day of receipt = D). For messages received after cut-off time, the final settlement time frame will be based on D+1. D is the basis for calculating the value date, ie, date when the funds are available to the Beneficiary. • • Agree the time frames for sending back charges. Determine the period in which items may be returned/dishonoured, and how such items should be conveyed, eg, CD-ROM, diskette, Internet, mail.

Remittance Information
• Agree whether any, and if so which, information should be conveyed in field 72 through the use of bilaterally agreed codes.

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Category 2 - Financial Institution Transfers

MT 207 Request For Financial Institution Transfer
Note: The use of this message type requires Message User Group (MUG) registration.

MT 207 Scope
This message is used to move funds from the ordering financial institution's account, serviced at the receiving financial institution or at the account servicing institution, or from an account(s) owned by the ordering institution for which the initiating institution has explicit authority to debit, eg, a subsidiary account. It can be used to order the movement of funds: • • between the ordering institution's accounts, or in favour of a third party, either domestically or internationally.

The message is sent by a financial institution on behalf of the ordering financial institution, ie, the account owning financial institution, or on behalf of the initiating financial institution. It is subsequently received by a financial institution and processed by this receiving financial institution or another account servicing financial institution. The complete chain of parties and the transaction flow is illustrated by the following figure:

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MT 207

Initiating Institution

51A

52G

Ordering Institution

Request
Sender

Funds
MT

MT 207

Receiver

Funds

Account Servicing 52a Institution

Funds Intermediary

56a

Funds Account With Institution

57a

Funds
Beneficiary Institution 58a

The parties mentioned in the chain are not necessarily different entities. The first column of the table below shows the parties that can be omitted in an MT 207. The second column specifies the party which assumes the role of the party in the first column, when it is not present:

If the following party is missing… Initiating institution

Its function is assumed by … Ordering institution

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D0020020

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Category 2 - Financial Institution Transfers

If the following party is missing… Account servicing institution Intermediary Account with institution

Its function is assumed by … Receiver Account with institution Receiver

MT 207 Format Specifications
The MT 207 consists of two sequences: • • Sequence A General Information is a single occurrence mandatory sequence and contains information to be applied to all individual transactions detailed in sequence B. Sequence B Transaction Details is a repetitive sequence; each occurrence provides details of one individual transaction.

MT 207 Request for Financial Institution Transfer
Status Tag Field Name Content/Options No.

Mandatory Sequence A General Information M O M M O M O O 20 21R 28D 30 51A 52G 52a 72 Sender's Reference Specified Reference of the Ordering Institution Message Index/Total Requested Execution Date Initiating Institution Ordering Institution Account Servicing Institution Sender to Receiver Information 16x 16x 5n/5n 6!n [/1!a][/34x] 4!a2!a2!c[3!c] /34x 4!a2!a2!c[3!c] A or C 6*35x 1 2 3 4 5 6 7 8

-----> Mandatory Repetitive Sequence B Transaction Details M ----> O 23E Instruction Code 4!c[/30x] 10 21 Transaction Reference 16x 9

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MT 207

Status ----| M O O M -----|

Tag

Field Name

Content/Options

No.

32B 56a 57a 58a

Currency/Transaction Amount Intermediary Account With Institution Beneficiary Institution

3!a15d A or D A, C or D A or D

11 12 13 14

M = Mandatory O = Optional

MT 207 Network Validated Rules
C1 In each occurrence of Sequence B: If field 56a is present then field 57a must also be present (Error code(s): D65).
If field 56a is … Present Not present Mandatory Optional then field 57a is …

MT 207 Usage Rules
• If field 21R is present in sequence A, and field 28D indicates that more than one message is chained for this request for transfer instruction, the currency code must be the same for all occurrences of field 32B in sequence B of all chained messages. In case field 23E identifies with a code a sweeping (CMSW), topping (CMTO) or zero balancing (CMZB) operation, the transaction amount in field 32B can equal zero. In case field 28D indicates that messages are chained, all messages belonging to the same chain must have exactly the same sender's reference in field 20. In case field 28D indicates that messages are chained, sequence A must be repeated and be identical for all messages belonging to the same chain.

• • •

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MT 207 Field Specifications
1. Field 20: Sender's Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the message. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES The reference must be unique for each message (or chain of messages) and is part of the message identification and transaction identification which is to be used in related queries, cancellations, etc. 2. Field 21R: Specified Reference of the Ordering Institution FORMAT Option R PRESENCE Optional DEFINITION This field specifies the reference to the entire message assigned by either the: • • initiating institution, when present or ordering institution, when the initiating institution is not present. 16x

NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26).

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USAGE RULES When this field is present, the ordering institution requests a single debit entry for the sum of the amounts of all transactions in the instruction, even if this instruction is chained in several messages. If the field is not used, all debit items are posted individually. 3. Field 28D: Message Index / Total FORMAT Option D PRESENCE Mandatory DEFINITION This field chains different messages by specifying the sequence number in the total number of messages. USAGE RULES Both the message index and the total number of messages allow the receiver to check that all transactions to be executed have been received. 4. Field 30: Requested Execution Date FORMAT 6!n PRESENCE Mandatory DEFINITION This field specifies the date on which all subsequent transactions should be initiated by the executing bank. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). USAGE RULES This is the date on which the ordering institution's account is to be debited. (Date) 5n/5n (Message Index)/(Total)

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Category 2 - Financial Institution Transfers

5.

Field 51A: Initiating Institution FORMAT Option A [/1!a][/34x] 4!a2!a2!c[3!c] (Party Identifier) (BIC)

PRESENCE Optional DEFINITION This field identifies the institution which is authorised by the ordering institution/account servicing institution to order all the transactions in the message. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations.(Error code(s): C05). USAGE RULES This field must only be used when the initiating institution is not also the ordering institution. Optional Party Identifier must not be used. 6. Field 52G: Ordering Institution FORMAT Option G /34x 4!a2!a2!c[3!c] (Account) (BIC)

PRESENCE Mandatory DEFINITION This field identifies the account owning financial institution whose account is to be debited with all transactions in sequence(s) B. NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

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The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES Account contains the account number of the ordering institution at the Receiver or at the account servicing institution. BIC contains the identification of the ordering institution. 7. Field 52a: Account Servicing Institution FORMAT Option A Option C PRESENCE Optional DEFINITION This field specifies the account servicing institution - when other than the Receiver - which services the account of the ordering institution to be debited. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC)

[/1!a][/34x] 4!a2!a2!c[3!c] /34x

(Party Identifier) (BIC) (Party Identifier)

Without 9 digit code Pay by Fedwire

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Category 2 - Financial Institution Transfers

IT PT SC

10!n 8!n 6!n

Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

CODES with option C:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The coded information contained in field 52a should be meaningful to the Receiver of the message.

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MT 207

Option A is the preferred option. If the account servicing institution cannot be identified by a BIC, option C should be used containing a 2!a clearing system code preceded by a double slash ‘//’. 8. Field 72: Sender to Receiver Information FORMAT 6*35x (Narrative - Structured Format )

The following line formats must be used: Line 1 Lines 2-6 /8c/[additional information] [//continuation of additional information] or [/8c/[additional information]]

PRESENCE Optional DEFINITION This field specifies additional information for the Receiver, ie, Sender of the original message regarding the reason for a return, ie, reversal, rejection or revocal. CODES The codes REJT or RETN must be used in this field in the first position of the first line, placed between slashes (‘/’). It is mandatory to follow the Generic Payment Reject Mechanism described in Standards Usage Guidelines. NETWORK VALIDATED RULES The first element in line 1 must contain either code /RETN/ or /REJT/ (Error code(s): D82). USAGE RULES The Reject/Return mechanism is used to reject or return all the transactions within the MT 207 message. For returns or rejections of a single transaction within the MT 207 (ie, sequence B), the MT 295 should be used as per the Standards Usage Guidelines. 9. Field 21: Transaction Reference FORMAT 16x PRESENCE Mandatory

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Category 2 - Financial Institution Transfers

DEFINITION This field specifies the unambiguous reference for the individual transaction contained in a particular occurrence of sequence B. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). USAGE RULES In transaction specific queries, cancellations, etc., the Sender's reference together with the content of this field provides the transaction identification. 10. Field 23E: Instruction Code FORMAT Option E PRESENCE Optional DEFINITION This field specifies instructions for the subsequent parties in the transaction chain. CODES One of the following codes must be used (Error code(s): T47).
CMSW CMTO This transaction contains a cash management instruction, requesting to sweep the account of the ordering institution. This transaction contains a cash management instruction, requesting to top the account of the ordering institution above a certain floor amount. The floor amount, if not pre-agreed by the parties involved, may be specified after the code. This transaction contains a cash management instruction, requesting to zero balance the account of the ordering institution. This transaction contains a payment that is made in settlement of a trade, eg, foreign exchange deal, securities transaction. This transaction contains a payment that should be settled via a net settlement system, if available. Used for bilaterally agreed codes/information. The actual bilateral code/information needs to be specified in Additional Information.

4!c[/30x]

(Instruction Code) (Additional Information)

CMZB CORT NETS OTHR

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MT 207

PHON

This transaction requires the beneficiary to be contacted by telephone and should be followed by the appropriate telephone number. This code is meant for the institution closest to the beneficiary institution This transaction contains a payment that should be settled via a real time gross settlement system, if available. This transaction contains a time sensitive payment which should be executed in an expeditious manner.

RTGS URGP

NETWORK VALIDATED RULES Additional Information is only allowed when Instruction Code consists of one of the following codes: CMTO, PHON or OTHR (Error code(s): D66). In each occurrence of Sequence B: when this field is used more than once, the following combinations are not allowed (Error code(s): D67).
CMSW CMSW CMTO CORT CORT CORT NETS with with with with with with with CMTO CMZB CMZB CMSW CMTO CMZB RTGS

In each occurrence of Sequence B: when this field is repeated, the same code word must not be present more than once with the exception of OTHR. The code word OTHR may be repeated (Error code(s): E46). USAGE RULES To facilitate the receiving bank's processing when multiple codes are used, the codes must appear in the following order: • • • • instructions for the receiver of the message (CMSW, CMTO, CMZB, CORT, URGP) codes impacting the routing or composition of the resulting payment message (NETS, RTGS) codes containing instructions for one of the following parties in the transaction chain (PHON) information codes ( OTHR)

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Category 2 - Financial Institution Transfers

11.

Field 32B: Currency/Transaction Amount FORMAT Option B PRESENCE Mandatory DEFINITION This field specifies the currency and amount of the subsequent transfer to be executed by the Receiver. NETWORK VALIDATED RULES Currency must be the same for all occurrences of this field (Error code(s): C02). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 3!a15d (Currency) (Amount)

12.

Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the financial institution between the Receiver and the account with institution, through which the transaction must pass. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:

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MT 207

AT AU BL CC ES FW GR HK IE IN IT PT SC

5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code

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Category 2 - Financial Institution Transfers

SC SW SW

6!n 3..5n 6!n

UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES The intermediary may be a branch or affiliate of the Receiver or the account with institution, or an entirely different financial institution. When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a. Option A is the preferred option. Option D must only be used when there is a need to be able to specify a name and address, eg, due to regulatory considerations. 13. Field 57a: Account With Institution FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Party Identifier) (Name & Address)

PRESENCE Conditional (C1)

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MT 207

DEFINITION This field specifies the financial institution - when other than the Receiver - which services the account for the beneficiary institution. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with options C and D:
AT AU BL CC CH CP ES FW GR HK 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong

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181

Category 2 - Financial Institution Transfers

IE IN IT PT RU SC SW SW

6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n

Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a. Option A is the preferred option. Option D must only be used when there is a need to be able to specify a name and address, eg, due to regulatory considerations. 14. Field 58a: Beneficiary Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Mandatory

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MT 207

DEFINITION This field specifies the beneficiary financial institution of the subsequent operation from the particular occurrence of sequence B. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong

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183

Category 2 - Financial Institution Transfers

IE IN IT PT RU SC SW SW

6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n

Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When one of the codes //FW (with or without the 9-digit number), //AU, //CP or //IN is used, it should appear only once and in the first of the fields 56a, 57a and 58a of the payment instruction. When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier of field 56a, 57a or 58a. Party Identifier may contain the beneficiary financial institution's account number. If the message is used to request the transfer of funds between the ordering financial institution's accounts, this field must contain the BIC of this institution. Option A is the preferred option. Option D must only be used when there is a need to be able to specify a name and address, eg, due to regulatory considerations.

MT 207 Examples
Narrative The Canadian Imperial Bank of Commerce, Canada (CIBCCATT) owns a euro account (account number 123456) at Deutsche Bank, Frankfurt (DEUTDEFF).

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MT 207

The Canadian Imperial Bank of Commerce is a customer of Deutsche Bank, Toronto (DEUTCATT) and instructs this bank via a proprietary link to ask Deutsche Bank, Frankfurt to make a euro payment to Banco Bilbao Vizcaya Argentaria, Madrid, via an RTGS system, using CIBCCATT's EUR account at DEUTDEFF. Information Flow

Instruction

CIBCCATT

DEUTCATT MT 207

TARGET system

DEUTDEFF

BBVAESMM
D0020022

SWIFT Message

Explanation Sender Message type Receiver Message text - General Information Sender’s Reference Message Index/Total Requested Execution Date :20:ABCDEF :28D:1/1 :30:020110 DEUTCATT 207 DEUTDEFF

Format

May 2005 Standards Release

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Category 2 - Financial Institution Transfers

Explanation Ordering Institution Message text - Transaction Details 1 Transaction Reference Instruction Code Currency/Transaction Amount Beneficiary Institution End of message text/trailer :21:REFBOF123 :23E:RTGS :52G:/123456 CIBCCATT

Format

:32B:EUR500000, :58A:BBVAESMM

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May 2005 Standards Release

MT 210

MT 210 Notice to Receive
MT 210 Scope
This message type is sent by an account owner to one of its account servicing institutions. It is an advance notice to the account servicing institution that it will receive funds to be credited to the Sender's account.

MT 210 Format Specifications
MT 210 Notice to Receive
Status M O M -----> M M O O O -----| M = Mandatory O = Optional 21 32B 50a 52a 56a Related Reference Currency Code, Amount Ordering Customer Ordering Institution Intermediary 16x 3!a15d C or no option letter A or D A or D 4 5 6 7 8 Tag 20 25 30 Field Name Transaction Reference Number Account Identification Value Date 16x 35x 6!n Content/Options No. 1 2 3

MT 210 Network Validated Rules
C1 C2 The repetitive sequence must not appear more than ten times (Error code(s): T10). Either field 50a or field 52a, but not both, must be present in a repetitive sequence (Error code(s): C06).

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187

Category 2 - Financial Institution Transfers

If field 50a is… Present Not present

then field 52a is … Not allowed Mandatory

C3

The currency code must be the same for all occurrences of field 32B in the message (Error code(s): C02).

MT 210 Field Specifications
1. Field 20: Transaction Reference Number FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the instruction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :20:oref1000 2. Field 25: Account Identification FORMAT 35x PRESENCE Optional DEFINITION This field identifies the account to be credited with the incoming funds. (Account)

188

May 2005 Standards Release

MT 210

USAGE RULES This field is used when the Receiver services more than one account for the Sender. 3. Field 30: Value Date FORMAT 6!n PRESENCE Mandatory DEFINITION This field contains the value date of all incoming funds specified in this message. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). 4. Field 21: Related Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field contains the content of field 20 Transaction Reference Number, or other reference, eg, Common Reference, of the related transaction. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :21:ref1234 5. Field 32B: Currency Code, Amount FORMAT Option B PRESENCE Mandatory 3!a15d (Currency) (Amount) (Date)

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DEFINITION This field specifies the currency and amount to be received. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). 6. Field 50a: Ordering Customer FORMAT Option C No option letter PRESENCE Conditional (C2) DEFINITION This field specifies the ordering party when it is not a financial institution. NETWORK VALIDATED RULES The BIC must be a BEI. Please refer to the latest version of the BIC Directory - Corporations for more information on BEIs. (Error code(s): T27, T28, T29, T45, E57). 7. Field 52a: Ordering Institution FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address) 4!a2!a2!c[3!c] 4*35x (BEI) (Name & Address)

PRESENCE Conditional (C2) DEFINITION This field specifies the ordering party when it is a financial institution. CODES Party Identifier may be used to indicate a national clearing system code.

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MT 210

The following codes may be used preceded by a double slash (‘//’): with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code

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SC SW SW

6!n 3..5n 6!n

UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code)

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES When the Sender is also the ordering institution, it will be repeated in this field. The coded information contained in field 52a must be meaningful to the Receiver of the message. Option A is the preferred option. Option D should only be used when the ordering financial institution has no BIC. 8. Field 56a: Intermediary FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field specifies the financial institution from which the Receiver is to receive the funds. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:

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MT 210

AT AU BL CC ES FW GR HK IE IN IT PT SC ZA

5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with option D:
AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC 5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portuguese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code

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SW SW ZA

3..5n 6!n 6!n

Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES This field is used when the intermediary institution is other than the ordering party. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver.

MT 210 Examples
Narrative Value 22 February 1998, Berliner Bank, Berlin, as a result of a foreign exchange deal (Common Reference – BEBEBB0023CRESZZ) with Credit Suisse, Zurich, is expecting US Dollars 230,000 to be credited to its account at Chase Manhattan Bank, New York. The funds will be paid through Citibank, New York. Berliner Bank sends an MT 210, using reference 318393.

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MT 210

Information Flow

(MT 300) Ordering Institution (MT 300) Crédit Suisse 52a Zurich

Sender (MT 202)

Berliner Bank Berlin

Intermediary

MT

56a MT 210

Citibank New York

(MT 205*)

Receiver

Chase Manhattan Bank, New York
D0020013

* Or its equivalent domestic clearing message

SWIFT Message, MT 210

Explanation Sender Message type Receiver Message text Transaction reference number Value Date Related reference (1) :20:318393 :30:980222 BEBEDEBB 210 CHASUS33

Format

:21:BEBEBB0023CRESZZ

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Explanation Currency code and amount Ordering institution Intermediary (2) End of message text/trailer

Format :32B:USD230000, :52A:CRESCHZZ :56A:CITIUS33

Note: (1) Field 21 of the incoming funds transfer. In this case, the reference contained in field 21 is a common reference from the related foreign exchange transaction. It will also appear in field 21 of the related funds transfer instruction (2) The financial institution from which the funds will be received.

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MT 256

MT 256 Advice of Non-Payment of Cheques
Note: The use of this message type requires Message User Group (MUG) registration.

MT 256 Scope
This message is sent by the Receiver of one or more MT 206s. It is used to inform the Sender of (a) previously sent MT 206(s) of the non-payment of specified truncated cheques. This message may only be used to specify dishonoured items that result in reversing a previous payment settlement.

MT 256 Format Specifications
The MT 256 consists of three types of sequences: • • • Sequence A Common Elements is a non-repetitive sequence and contains information applicable to all individual cheques detailed in sequence B. Sequence B Cheque Details is a repetitive sequence where each occurrence provides details of an individual cheque. Sequence C Settlement Details is a non-repetitive sequence and contains settlement information applicable to all cheques detailed in sequence B.

MT 256 Advice of Non-Payment of Cheques
Status Tag Field Name Content/Options No.

Mandatory Sequence A Common Elements M O 20 21 Sender's Reference Related Message Reference 16x 16x 1 2

----->Mandatory Repetitive Sequence B Cheque Details M O O O M 44A 21 21D 21E 23E Transaction Reference Number Related Message Reference Cheque Number Cheque Reference Number Reason for Non-Payment/Dishonour 65x 16x 35x 35x 4!c[/30x] 3 4 5 6 7

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Status M O O O O

Tag 32J 37J 71G 71F 71H Cheque Amount Interest Rate Interest Charges Sender's Charges

Field Name 15d 12d

Content/Options

No. 8 9 10 11 12

3!a15d 3!a15d 3!a15d

Issuer's Financial Institution Charges

-----| Mandatory Sequence C Settlement Details M O O O O O O O 32A 30 19 71J 71L 71K 57a 58B Value Date, Currency Code and Total Amount Claimed Original Value Date Total Cheque Amount Sum of Interest Charges Sum of Sender's Charges Sum of Issuer's Financial Institution Charges Account With Institution (for Settlement) 6!n3!a15d 6!n 17d 3!a15d 3!a15d 3!a15d A, C or D 13 14 15 16 17 18 19 20

Beneficiary Institution's Account (for Settlement) [/1!a][/34x] [35x] M = Mandatory O = Optional

MT 256 Network Validated Rules
C1 If field 37J is present, then field 71G must also be present (Error code(s): E25).
If field 37J in sequence B is… Present Not present then field 71G in sequence B is… Mandatory Optional

C2

The amount specified in field 71L in sequence C must be equal to the sum of all occurrences of field 71F in sequence B (Error code(s): E26).

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MT 256

C3 C4 C5 C6 C7

The amount specified in field 71J in sequence C must be equal to the sum of all occurrences of field 71G in sequence B (Error code(s): E27). The currency code in the amount fields (71F, 71G, 71H, 71J, 71K, 71L, 32A) must be the same for all occurrences of these fields in the message (Error code(s): C02). If no changes are included, field 32A in sequence C contains the sum of the amounts of all fields 32J in sequence B. Field 19 must not be present (Error code(s): D80). If charges are included, field 19 must be present. It must contain the sum of amounts of all fields 32J in sequence B (Error code(s): C01). Field 21 must be present either in sequence A, or in all occurrences of sequence B (Error code(s): E28).
If field 21 in sequence A is… Present Not present If field 21 in sequence B is… Present Not present then field 21 in sequence B is… Not allowed Mandatory in all occurrences then field 21 in sequence A is… Not allowed Mandatory

C8

If field 71F is present in any occurrence of sequence B, then field 71L must be present in sequence C. Otherwise, field 71L is not allowed (Error code(s): E29).
If field 71F in sequence B is… Present in any occurrence Not present in any occurrence then field 71L in sequence C is… Mandatory Not allowed

C9

If field 71G is present in any occurrence of sequence B, then field 71J must be present in sequence C. Otherwise, field 71J is not allowed (Error code(s): E30).
If field 71G in sequence B is… Present in any occurrence Not present in any occurrence then field 71J in sequence C is… Mandatory Not allowed

C10

If field 71H is present in any occurrence of sequence B, then field 71K must be present in sequence C. Otherwise, field 71K is not allowed (Error code(s): E31).

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If field 71H in sequence B is… Present in any occurrence Not present in any occurrence

then field 71K in sequence C is… Mandatory Not allowed

C11

The amount specified in field 71K in sequence C must be equal to the sum of all occurrences of field 71H in sequence B (Error code(s): E32).

MT 256 Usage Rules
• The MT 256 can only be sent or received by financial institutions which have registered with SWIFT to send or receive the MT 206/MT 256. If a registered user receives an MT 256 without bilateral agreement with the Sender, the Receiver should query the message according to normal banking practice. This message must not be used to specify reasons that at a later stage could lead to a nonpayment, eg, a request for a photocopy to check the signature. For this, an MT 295 Queries must be used, for which special codes are provided. For dishonoured cheques in different currencies, different MT 256s must be used. When the Sender does not have authority to debit the Receiver's account, the Receiver of the MT 256 must credit the account according to the specified value date. Field 30 may only be used if the original value date differs from the value date provided in this field. Absence of field 30 implies that the value date in field 32A is taken from the original MT 206.

• • •

MT 256 Field Specifications
1. Field 20: Sender's Reference FORMAT 16x PRESENCE Mandatory DEFINITION This field specifies the reference assigned by the Sender to unambiguously identify the instruction.

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NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :20:oref1000 2. Field 21: Related Message Reference FORMAT 16x PRESENCE Conditional (C7) DEFINITION This field contains the Sender's reference of the previously received MT 206 Cheque Truncation Message, ie, field 20 of the original MT 206. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :21:ref1234 3. Field 44A: Transaction Reference Number FORMAT Option A PRESENCE Mandatory DEFINITION This field contains the TRN, field 20 of the previously received MT 206, generated by the beneficiary's financial institution, which identifies the transaction that this dishonoured cheque represents. EXAMPLE :44A:abc12354 65x

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Category 2 - Financial Institution Transfers

4.

Field 21: Related Message Reference FORMAT 16x PRESENCE Conditional (C7) DEFINITION This field contains the Sender's reference of the previously received MT 206 Cheque Truncation Message in case this MT 256 is informing of the non-payment of cheques in the same currency that were included in different MTs 256. NETWORK VALIDATED RULES This field must not start or end with a slash ‘/’ and must not contain two consecutive slashes ‘//’ (Error code(s): T26). EXAMPLE :21:ref1234

5.

Field 21D: Cheque Number FORMAT Option D PRESENCE Optional DEFINITION This field contains the number of the cheque that has been dishonoured, normally inserted on the cheque by the issuer's financial institution. USAGE RULES This field must be the same as the cheque number specified in the original MT 206. EXAMPLE :21D:9987434 35x

6.

Field 21E: Cheque Reference Number FORMAT Option E 35x

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MT 256

PRESENCE Optional DEFINITION This field contains the reference of the cheque, as generated by the beneficiary's financial institution. USAGE RULES This reference is usually the archive reference (microfilm) and is as such used as a link to the physical item. This field must be quoted if it is present in the original MT 206. EXAMPLE :21E:888014612 7. Field 23E: Reason for Non-Payment/Dishonour FORMAT Option E PRESENCE Mandatory DEFINITION This field indicates why a cheque was dishonoured. CODES Code must contain one of the following codes (Error code(s): T47):
AMAM AMTL CLOS COLN DRAW DUPL FRAU FROZ FRWD INCH Amount exceeds the amount limit allowed for this account. Amount exceeds the truncation limit as defined in the bilateral agreement (min. or max. amount). Closed account. Error in code line. Refer to drawer. Duplicate cheque information. Fraudulent cheque. (Legally) Frozen account. Forward dated cheque. Cheque number invalid.

4!c[/30x]

(Code) (Narrative)

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INSF INSI INVA NELI NMAT OTHR REVO STLD STOP

Insufficient funds. Insufficient information. Account number invalid. Cheques not eligible for truncation. Currency and account do not match. Other followed by a bilaterally agreed code to specify a reason which is not covered by the above. Revocation. Stale cheque, ie, deposited too late relative to the issue date. Stop payment of a cheque.

NETWORK VALIDATED RULES Narrative may only be used in combination with the code OTHR (Error code(s): D81). USAGE RULES The code OTHR may only be used when bilaterally agreed. When used, Narrative must also be present. EXAMPLE :23E:INSI 8. Field 32J: Cheque Amount FORMAT Option J PRESENCE Mandatory DEFINITION This field contains the amount specified on the dishonoured cheque. NETWORK VALIDATED RULES The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the currency specified in field 32A (Error code(s): C03, T40, T43). USAGE RULES This field must be the same as the cheque amount specified in the original MT 206. 15d (Amount)

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MT 256

EXAMPLE :32J:100000, 9. Field 37J: Interest Rate FORMAT Option J PRESENCE Optional DEFINITION This field specifies the interest rate to be collected from the Sender of the MT 206. NETWORK VALIDATED RULES The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). 10. Field 71G: Interest Charges FORMAT Option G PRESENCE Conditional (C1) DEFINITION This field specifies the currency and the interest charges due to the Sender of the MT 256. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). USAGE RULES These interest charges are computed at a prevailing interest rate (field 37J) from the original value date (field 30) up to the date when recovery of funds is expected to take place (field 32A). EXAMPLE :71G:USD3, 3!a15d (Currency) (Amount) 12d (Rate)

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11.

Field 71F: Sender's Charges FORMAT Option F PRESENCE Optional DEFINITION This field specifies the currency and the charges due to the Sender of the MT 256, if different from the issuer's financial institution, for the above specified reason. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :71F:USD3, 3!a15d (Currency) (Amount)

12.

Field 71H: Issuer's Financial Institution Charges FORMAT Option H PRESENCE Optional DEFINITION This field specifies the currency and the charges due to the issuer's financial institution, for the above specified reason. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :71H:USD8, 3!a15d (Currency) (Amount)

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MT 256

13.

Field 32A: Value Date, Currency Code and Total Amount Claimed FORMAT Option A PRESENCE Mandatory DEFINITION This field specifies the date when the recovery of funds is expected to take place, followed by the currency and the total amount to be claimed. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :32A:961201USD1350, 6!n3!a15d (Date) (Currency) (Amount)

14.

Field 30: Original Value Date FORMAT 6!n PRESENCE Optional DEFINITION This field specifies the value date that appeared on the related MT 206. NETWORK VALIDATED RULES Date must be a valid date expressed as YYMMDD (Error code(s): T50). USAGE RULES As this message is sent after provisional credit has been given to the beneficiary, any consequential interests can also be taken into account, by specifying that date. In this case, ie, when back-valuing is applied, no separate fields must be used to indicate the interest charges. EXAMPLE :30:980108 (Date)

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Category 2 - Financial Institution Transfers

15.

Field 19: Total Cheque Amount FORMAT 17d PRESENCE Conditional (C5, C6) DEFINITION This field specifies the sum of all occurrences of field 32J in sequence B. NETWORK VALIDATED RULES The integer part of the Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of decimal digits in field 19 must not exceed the maximum for its corresponding currency in field 32A in sequence C (Error code(s): C03, T40, T43). EXAMPLE :19:1350, (Amount)

16.

Field 71J: Sum of Interest Charges FORMAT Option J PRESENCE Conditional (C9) DEFINITION This field specifies the currency and the sum of all occurrences of field 71G in sequence B. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :71J:USD50, 3!a15d (Currency) (Amount)

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MT 256

17.

Field 71L: Sum of Sender's Charges FORMAT Option L PRESENCE Conditional (C8) DEFINITION This field specifies the currency and the sum of all occurrences of field 71F in sequence B. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :71L:USD234, 3!a15d (Currency) (Amount)

18.

Field 71K: Sum of Issuer's Financial Institution Charges FORMAT Option K PRESENCE Conditional (C10) DEFINITION This field specifies the currency and the sum of all occurrences of field 71H in sequence B. NETWORK VALIDATED RULES Currency must be a valid ISO 4217 currency code (Error code(s): T52). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length. The number of digits following the comma must not exceed the maximum number allowed for the specified currency (Error code(s): C03, T40, T43). EXAMPLE :71K:USD343, 3!a15d (Currency) (Amount)

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Category 2 - Financial Institution Transfers

19.

Field 57a: Account With Institution (for Settlement) FORMAT Option A Option C Option D [/1!a][/34x] 4!a2!a2!c[3!c] /34x [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Party Identifier) (Name & Address)

PRESENCE Optional DEFINITION This field identifies the account with institution at which the Sender wants to have the funds (re)credited. CODES Party Identifier may be used to indicate a national clearing system code. The following codes may be used, preceded by a double slash ‘//’: with option A:
AT AU BL CC ES FW GR HK IE IN IT PT SC ZA 5!n 6!n 8!n 9!n 8..9n 7!n 3!n 6!n 11!c 10!n 8!n 6!n 6!n Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number Spanish Domestic Interbanking Code HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code UK Domestic Sort Code South African National Clearing Code

without 9 digit code Pay by Fedwire

CODES with options C or D:

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MT 256

AT AU BL CC CH CP ES FW GR HK IE IN IT PT RU SC SW SW ZA

5!n 6!n 8!n 9!n 6!n 4!n 8..9n 9!n 7!n 3!n 6!n 11!c 10!n 8!n 9!n 6!n 3..5n 6!n 6!n

Austrian Bankleitzahl Australian Bank State Branch (BSB) Code German Bankleitzahl Canadian Payments Association Payment Routing Number CHIPS Universal Identifier CHIPS Participant Identifier Spanish Domestic Interbanking Code Fedwire Routing Number HEBIC (Hellenic Bank Identification Code) Bank Code of Hong Kong Irish National Clearing Code (NSC) Indian Financial System Code (IFSC) Italian Domestic Identification Code Portugese National Clearing Code Russian Central Bank Identification Code UK Domestic Sort Code Swiss Clearing Code (BC code) Swiss Clearing Code (SIC code) South African National Clearing Code

NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45). The BIC must not be a BEI. Please refer to the latest version of the BIC Directory Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05). USAGE RULES This field may only be used where the settlement does not follow the same route as the MT 256 (this message). When it is necessary that an incoming SWIFT payment be made to the party in this field via Fedwire, US banks require that the code //FW appears in the optional Party Identifier. Option A must be used whenever possible. Option D must only be used in exceptional circumstances, ie, when the party cannot be identified by a BIC and when there is a bilateral agreement between the Sender and the Receiver

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Category 2 - Financial Institution Transfers

permitting its use. Unless qualified by a clearing system code or an account number, the use of option D may prevent the automated processing of the instruction(s) by the Receiver. EXAMPLE :57A:MIDLGB2L 20. Field 58B: Beneficiary Institution's Account (for Settlement) FORMAT Option B [/1!a][/34x] [35x] (Party Identifier) (Location)

PRESENCE Optional DEFINITION This field specifies the account number of the financial institution which is the ultimate recipient of the funds being (re)transferred (i.e. the Receiver of the MT 206). USAGE RULES Party Identifier is to be used to specify the account to be credited, where • • • there are multiple direct account relationships in the currency of the transaction between the Sender and account with institution one of these accounts is to be used for reimbursement there is no bilaterally agreed account.

EXAMPLE :58B:/123-45678

MT 256 Mapping
Mapping of an MT 206 into a subsequent MT 256 (Receiver of the MT 206 becomes Sender of the MT 256).

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MT 256

MT 206
20 28E 23E 17A 52a

MT 256
20 21*

44A 21 21D 21E

44A 21D 21E 29a 32J 58a 25 26E 30 39C 52a 72

23E 32J 37J 71G 71F 71H

32A 30 19 71J 71L 71K

32A 57a 58a 19

57a 58a

* If the MT 256 is a reply to several different MT 206s, ie, with differing fields 20, then field 20 of this MT becomes field 21 in Sequence B of the MT 256.

MT 256 Examples
Narrative On December 10, 1998, Thomas Cook, London informs Standard Bank of South Africa, Johannesburg that the following travellers cheques are dishonoured in the MT 206 it received from Standard Bank of South Africa (message reference 981201123456AA).

May 2005 Standards Release

D0020019

213

Category 2 - Financial Institution Transfers

TRN Cheque 1 Cheque 2 9812010IJKL235693 981201ZZZZ123456AA

Cheque Number EB33333333 GB66666666

Amount GBP10, GBP20,

Reason for dishonour Stopped cheque Invalid cheque number

Since Thomas Cook, London has already reimbursed Standard Bank of South Africa, it wants to have the funds recredited to its account held at Midland Bank, London (account number 123456), back-valuing the amount with the value date used on the original MT 206 (original value date 981207). Information Flow

Sender

(MT 910/950)

Thomas Cook London

Account With Institution
MT

Midland Bank London

MT 206 MT 256 (MT 205*) Natwest London

Receiver

(MT 202)

* Or its equivalent domestic clearing message

SWIFT Message, MT 256

Explanation Sender Message Type Receiver COOKGB22 256 SBZAZAJJ

Format

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May 2005 Standards Release

D0020014

Standard Bank of South Africa Johannesburg

MT 256

Explanation Message Text Sender's Reference Related Message Reference Transaction Reference Number Cheque Number Reason for Non-Payment/Dishonour Cheque Amount Transaction Reference Number Cheque Number Reason for Non-Payment/Dishonour Cheque Amount Value Date, Currency Code and Total Amount Claimed Account With Institution Beneficiary Institution's Account End of Message Text/Trailer

Format

:20:IPD/S0001/PAIDS :21:981201123456AA :44A:981201IJKL235693 :21D:EB33333333 :23E:STOP :32J:10, :44A:981201ZZZZ123456AA :21D:GB66666666 :23E:INCH :32J:20, :32A:981207GBP30,

:57A:MIDLGB22 :58B:/123456

MT 256 Checklist
For a checklist of topics that should be included in bilateral or multilateral agreements for processing truncated cheques, see MT 206 Checklist.

May 2005 Standards Release

215

Category 2 - Financial Institution Transfers

MT 290 Advice of Charges, Interest and Other Adjustments
Please refer to Category n – Common Group Messages, Chapter n90 Advice of Charges, Interest and Other Adjustments for details concerning this message type.

216

May 2005 Standards Release

MT 291

MT 291 Request for Payment of Charges, Interest and Other Expenses
Please refer to Category n – Common Group Messages, Chapter n91 Request for Payment of Charges, Interest and other Expenses for details concerning this message type.

May 2005 Standards Release

217

Category 2 - Financial Institution Transfers

MT 292 Request for Cancellation
Please refer to Category n – Common Group Messages, Chapter n92 Request for Cancellation for details concerning this message type.

218

May 2005 Standards Release

MT 295

MT 295 Queries
Please refer to Category n – Common Group Messages, Chapter n95 Queries for details concerning this message type.

May 2005 Standards Release

219

Category 2 - Financial Institution Transfers

MT 296 Answers
Please refer to Category n – Common Group Messages, Chapter n96 Answers for details concerning this message type.

220

May 2005 Standards Release

MT 298

MT 298 Proprietary Message
Please refer to Category n – Common Group Messages, Chapter n98 Proprietary Message for details concerning this message type.

May 2005 Standards Release

221

Category 2 - Financial Institution Transfers

MT 299 Free Format Message
Please refer to Category n – Common Group Messages, Chapter n99 Free Format Message for details concerning this message type.

222

May 2005 Standards Release

Glossary of Terms

Glossary of Terms
In addition to the definitions which appear in Standards General Information, Glossary of Terms, the following terms apply to category 2 message types: Available Funds Funds available for transfer or withdrawal in cash. Bankleitzahl An eight digit numeric code used to identify banks in Germany. It may only be assigned, changed or cancelled by Deutsche Bundesbank, in Germany. CHIPS (Clearing House Interbank Payments System) A private telecommunications payment service operated by the New York Clearing House Association for banks in the New York area, which handles US dollar payments only. CHIPS Participant A bank authorised to send and receive payments on the CHIPS system. CHIPS Participant ID (ABA Number) A unique number identifying a CHIPS participant. The first four digits are the participant's number, followed by a one digit group identifier. For S.W.I.F.T. purposes, only the first four digits of the CHIPS Participant ID will be used. CHIPS Settling Participant A CHIPS Participant responsible for the settlement of its own CHIPS net debit or credit position at the end of the CHIPS business day. CHIPS Universal Identifier A unique six digit number assigned by CHIPS to identify an account. Cover Payment The reimbursement of a correspondent bank for a payment. Federal Funds US dollars on deposit at a Federal Reserve Bank in the United States. Fedwire A payment service operated by the US Federal Reserve System as a private wire network for transfers between financial institutions having accounts at the Federal Reserve Bank. Fedwire Routing Number A nine digit numeric code used to identify banks in the United States. Funds Transfer Complete movement of funds between the originator and the beneficiary. A funds transfer may consist of one or more funds transfer transactions.

May 2005 Standards Release

223

Category 2 - Financial Institution Transfers

Funds Transfer Transaction The movement of funds directly between two parties, involving no intermediaries other than a payment or communications service. Immediate Funds Same day funds in which the settlement is simultaneous with execution of the transaction. Instructing Party The party instructing the Sender to execute a transaction. Originator Initiator of the transfer instructions. Equivalent to the ordering institution (field 52a) in the MT 202. Originator's Institution Identifies the financial institution which is acting for the originator of the transfer. Remitter The party which is the source of funds in a payment order. Same Day Funds The funds available for transfer today, or for withdrawal in cash, subject to the settlement of the transaction through the payment mechanism used. Settlement A transfer of funds to complete one or more prior transactions made, subject to final accounting.

224

May 2005 Standards Release

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