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Published by: chant2k7 on May 14, 2011
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Scope

This message is exchanged to confirm a fixed term loan/deposit contract. It is exchanged by or
on behalf of the institutions or corporates, who have agreed to a fixed term loan/deposit contract.

Note

In some markets, loan/deposit contracts are agreed on floating rates.

The MT320 is not formatted to confirm floating rate contracts but bi-lateral agreements between
parties are possible (see Message Guidelines and example).

Usage rules

For the actual transfer of funds, other messages outside Category 3 are available, such as the
MT 101, Request for Transfer message.

When the sender of the MT 320 is confirming a trade on behalf of another party, this other party
must be indicated in field 82a of the message, otherwise, the identification of the sender itself
must appear in field 82.

SWIFT for Corporates

48

Standards MT Messages Implementation Guidelines

Message usage guidelines

Field

UHB definition

Additional guideline

82a:Party A

This field identifies party A.

In case of a loan, this field must
contain the party which will
receive the principal on the start
date of the loan period. In case of
a deposit, this field must contain
the party which will transfer the
principal on the start date of the
deposit period.

87a: Party B

This field identifies party B.

In case of a loan, this field must
contain the party which will
transfer the principal on the start
date of the loan period. In case of
a deposit, this field must contain
the party which will receive the
principal on the start date of the
deposit period.

77D: Terms and
Conditions

This field specifies the underlying
legal agreement.

For a floating rate loan/deposit,
this field must contain /FLTR/
followed by the floating rate
option in the confirmation sent at
the start of the trade (field 22B
contains CONF).

22A: Type of
Operation

This field specifies the function of the
message.

In case of a new event (trade
confirmation, rollover or maturity),
this field must contain the code
NEWT. In case of a correction or
a modification of an event, this
field must contain the code
AMND. In case of the cancellation
of an event, this field must
contain the code CANC.

32H: Amount to be
Settled

For a rollover confirmation
(22B=ROLL), this field specifies the
difference between the previous and
the new principal amount, with
interest included when interest is
settled through the same cash flow.

For a maturity confirmation
(22B=MATU), this field specifies the
amount with optional interest to be
paid by the borrower at maturity date.

This field must contain a negative
sign when the amount is received
from Party A’s point of view.

Normally, the interest is included
in this amount when and only
when it is netted with the
difference (ROLL) or
reimbursement (MATU) of
principal.

34x: Currency and
Interest Amount

This field specifies for

a new confirmation (22B=CONF), the
first interest amount;

a rollover confirmation (22B=ROLL),
the next interest amount;

a maturity confirmation (22B=MATU),
the final interest amount to be settled
at maturity.

For a floating rate loan/deposit,
this field must contain an interest
amount of zero in the
confirmation sent at the start of
the trade (field 22B contains
CONF), while it must contain the
actual total interest amount in the
confirmation sent at maturity (field
22B contains MATU).

Treasury Markets Standards

17 December 2008

49

37G: Interest Rate

This field specifies the interest rate.

For a floating rate loan/deposit,
this field must contain an interest
rate of zero in the confirmation
sent at the start of the trade (field
22B contains CONF), while it
must contain the actual rate in the
confirmation sent at maturity (field
22B contains MATU).

Business example

On September 21, 2006 SPORTS CARS agrees to lend for 1 month starting September 25,
12,000,000 CHF to Savings Bank in Geneva. They will transfer the funds from their account with
AnyBank in Geneva. The interest rate is 1.5495. BIG CARS Company in Frankfurt is responsible
for confirming the trades of SPORTS CARS.

Explanation

Format

Sender

BIGCDEFF

Message Type

320

Receiver

SAVECHFF

Message text

General Information

:15A:

Sender’s Reference

:20:ABC

Type of Operation

:22A:NEWT

Type of Event

:22B:CONF

Common Reference

:22C:BIGCFF5495SAVEGG

Party A

:82A:SPOCDEF1

Party B

:87A:SAVECHGG

SWIFT for Corporates

50

Standards MT Messages Implementation Guidelines

Transaction Details

:15B:

Party A’s Role

:17R:L

Trade Date

:30T:20060921

Value Date

:30V:20060925

Maturity Date

:30P:20061025

Currency and Principal Amount

:32B:CHF12000000,

Currency and Interest Amount

:34E:NCHF15495,

Interest Rate

:37G:1,5495

Day Count Fraction

:14D:360/360

Settlement Instructions for Amounts
Payable by Party A.

:15C:

Intermediary

:56A:ANYBCHGG

Receiving Agent

:57A:SAVECHGG

Settlement Instructions for Amounts
Payable by Party B.

:15D:

Receiving Agent

:57A:ANYBCHGG

Business example

On November 23, 2006 BIG CARS agrees to lend for 3 months starting November 27,
15,000,000 CHF to Savings Bank in Geneva. They will transfer the funds from their account with
AnyBank in Geneva. The interest rate is CHF-ANNUALSR-RFRCBANKS.

Explanation

Format

Sender

BIGCDEFF

Message Type

320

Receiver

SAVECHFF

Message text

General Information

:15A:

Sender’s Reference

:20:DEF

Type of Operation

:22A:NEWT

Type of Event

:22B:CONF

Common Reference

:22C:BIGCFF0000SAVEGG

Party A

:82A:BIGCDEFF

Treasury Markets Standards

17 December 2008

51

Party B

:87A:SAVECHGG

Terms and Conditions

:77D:/FLTR/CHF-ANNUALSR-RFRCBANKS

Transaction Details

:15B:

Party A’s Role

:17R:L

Trade Date

:30T:20061123

Value Date

:30V:20061127

Maturity Date

:30P:20070227

Currency and Principal Amount

:32B:CHF15000000,

Currency and Interest Amount

:34E:CHF0,

Interest Rate

:37G:0,

Day Count Fraction

:14D:360/360

Settlement Instructions for Amounts
Payable by Party A.

:15C:

Intermediary

:56A:ANYBCHGG

Receiving Agent

:57A:SAVECHGG

Settlement Instructions for Amounts
Payable by Party B.

:15D:

Receiving Agent

:57A:ANYBCHGG

Business example

At maturity of the loan/deposit, 2006 BIG CARS confirms the floating rate which is of 2.75%.they
repeat the floating rate option in field 77D.

Explanation

Format

Sender

BIGCDEFF

Message Type

320

Receiver

SAVECHFF

Message text

General Information

:15A:

Sender’s Reference

:20GHI

Related Reference

:21:DEF

Type of Operation

:22A:NEWT

Type of Event

:22B:MATU

Common Reference

:22C:BIGCFF0275SAVEGG

Party A

:82A:BIGCDEFF

Party B

:87A:SAVECHGG

Terms and Conditions

:77D:/FLTR/CHF-ANNUALSR-RFRCBANKS

Transaction Details

:15B:

Party A’s Role

:17R:L

Trade Date

:30T:20061123

Value Date

:30V:20061127

Maturity Date

:30P:20070227

Currency and Principal Amount

:32B:CHF15000000,

SWIFT for Corporates

52

Standards MT Messages Implementation Guidelines

Currency and Amount to be Settled

:32H:NCHF15103125,

Currency and Interest Amount

:34E:NCHF103125,

Interest Rate

:37G:2,75

Day Count Fraction

:14D:360/360

Settlement Instructions for Amounts
Payable by Party A.

:15C:

Intermediary

:56A:ANYBCHGG

Receiving Agent

:57A:SAVECHGG

Settlement Instructions for Amounts
Payable by Party B.

:15D:

Receiving Agent

:57A:ANYBCHGG

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