ISO20022 Flashcards
What is a Formal Rule ?
A Rule that will be validated by the SWIFT network
What is the Group Header Block ?
Contains characteristics which are applicable to all transactions in the message - except atm there is only one message !!
What is the Credit Transfer Transaction Information Block ? (pacs.008)
It contains details of the payment
such as…
What is a Textual Rule ?
This will NOT be validated by the Network
What is a Guideline Rule ?
This a best practice only
What is a CrossElementSimpleRule ?
What is a CrossElementComplexRule ?
What is a Usage Identifier ?
What is an External Code list ?
Data elements that are externalised to enable maintenance
What are SWIFT special characters ?
!#&%*=^_`{|}~”;@[] $ > <
What are the FIN X Characters ?
a-z A-Z 0-9 / - ? : ( ) . , ‘ + .
What does Point-to-Point mean ?
Point-to-point refers to data passed within a message from one party to the next. This
data will not necessarily be passed in subsequent messages.
What does End-toend mean ?
End-to-end refers to data passed throughout the transaction life cycle i.e. within a
message from one party to the next and continued in subsequent messages
For example: the UETR element contains a Unique End-to-end Transaction
Reference in accordance with the UUID version 4 standards. This same reference
is used in all messages related to the payment transaction.
How can an Agent (Bank) be identified ?
Normally BICFI
but also
LEI
Clearing System Member Id
Name
Postal Address
ISO20022 has both Date and DateTime
CBPR+ usage guidelines DateTime elements mandate the time zone that the time
represents as an offset against Universal Time Coordinated (UTC):
Local time with UTC offset YYYY-MM-DDThh:mm:ss.sss+/-hh:mm
➢ For example: 2002-10-10T12:00:00-05:00 (noon/midday on 10 October 2002,
Central Daylight Savings Time as well as Eastern Standard Time in the U.S.)
What is a Business Application Header ?
The Business Application Header (BAH) is a mandatory component of the CBPR+ Business Message. The Business Application Header enables both application routing rules and logic without having to read the Business Document.
What is SWIFTNet ?
SWIFT’s secure IP network connecting financial institutions.
What is a BIC code ?
Business Identifier Code - not Bank, since corporate can have a SWIFT code too.
How long is a SWIFT code ? What is the structure ?
DEUT - first 4 is entity
DE - Country code
SS - Stuttgart - town
nnn - 3 digit code to identify the branch
The message standards of SWIFT are ?
MT - ISO15022
MX - ISO20022
SWIFTNet FIN service comprises which two applications
SWIFT FIN - for sending Financial messages
SWIFT GPA - General Purpose Application - admin of FIN
uses ISO15022 standard
Categories of FIN messages - 9
nothing for card payments
1 - Customer Payments
2 - Bank Payments
3 - FX, MM Payments
4 - Collections and Cash Letters
5 - Securities
6 - Precious Metals
7 - Trade Finance
8 - Travellers Cheques
9 - Advices, Cash Management
Message code is
MT 103 - example
Type 1 is Customer Payment category
0 - group , 0 = electronic, 1 = paper
3 = function or type
What is an MT NVR
NVR is a network validated rule
this means SWIFT will validate a specific field in a message and validate its usage
