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ISO 15022
Data Field Dictionary

MT671 Scope

The MT 671 Standing Settlement Instruction (SSI) Update Notification message is sent by SWIFT to an institution as a result of receiving an MT 670 Standing Settlement Instruction Update Notification Request. The MT 671 is created from the corresponding MT 670. The MT 671 is a notification of an SSI update from the party identified in the message as the Submitting Party to:

  • one or more institutions or

  • all institutions in one or more countries or

  • all institutions.

The MT 671 specifies standing cash settlement information for the account of the Submitting Party or on behalf of another party. The party and account information in the SSI is then used in FX confirmations, payments messages, etc.

The MT 671 is sent by SWIFT to one or more institutions as defined in the MT 670:

Note

The MT 671 is created from the corresponding MT 670. The sender of the MT 671 is a pseudo logical terminal - for more information about pseudo logical terminals, see the FIN Operations Guide. With the exception of fields that concern distribution information, all the data in the MT 670 is copied into the MT 671. The exception fields that are not copied to the MT 671 are:

  • :95P::SSIR//

  • :94C::SSIR//

  • :22H::SSIR//

To understand the rules governing the creation of the MT 670 Standing Settlement Instruction Update Notification request message, see the MT 670.

Although error codes are included in the documentation of the MT 671, they have no purpose and can be ignored.

MT671 Format Specifications

Status Tag Qualifier Generic Field Name Detailed Field Name Content/Options No.

Mandatory Sequence A General Information

M

16R

 

 

Start of Block

GENL

1

M

20C

SEME

Reference

Sender's Message Reference

:4!c//16x

2

M

23G

 

 

Function of the Message

4!c[/4!c]

3

-----> Optional Repetitive Subsequence A1 Linkages

M

16R

 

 

Start of Block

LINK

4

M

20C

4!c

Reference

(see qualifier description)

:4!c//16x

5

M

16S

 

 

End of Block

LINK

6

-----| End of Subsequence A1 Linkages

----->

M

95a

4!c

Party

(see qualifier description)

P or Q

7

-----|

M

22F

UDTP

Indicator

SSI Update Type

:4!c/[8c]/4!c

8

O

97A

SAFE

Account

Safekeeping Account

:4!c//35x

9

M

16S

 

 

End of Block

GENL

10

End of Sequence A General Information

-----> Mandatory Repetitive Sequence B Standing Settlement Instruction Details

M

16R

 

 

Start of Block

SSIDET

11

M

22H

SSIP

Indicator

SSI Purpose

:4!c//4!c

12

O

20C

SSIR

Reference

SSI Reference

:4!c//16x

13

M

11A

SETT

Currency

SSI Currency

:4!c//3!a

14

M

98A

EFFD

Date/Time

Effective Date

:4!c//8!n

15

----->

M

22F

4!c

Indicator

(see qualifier description)

:4!c/[8c]/4!c

16

-----|

-----> Mandatory Repetitive Subsequence B1 Cash Parties

M

16R

 

 

Start of Block

CSHPRTY

17

----->

M

95a

4!c

Party

(see qualifier description)

P, Q, R, or S

18

-----|

O

97A

CASH

Account

Cash Account

:4!c//35x

19

M

16S

 

 

End of Block

CSHPRTY

20

-----| End of Subsequence B1 Cash Parties

Optional Subsequence B2 Other Details

M

16R

 

 

Start of Block

OTHRDET

21

----->

O

70E

ADTX

Narrative

Additional Text Narrative

:4!c//10*35x

22

-----|

O

22F

PMTH

Indicator

Payment Method Indicator

:4!c/[8c]/4!c

23

O

22H

PRCD

Indicator

Precedence Indicator

:4!c//4!c

24

M

16S

 

 

End of Block

OTHRDET

25

End of Subsequence B2 Other Details

M

16S

 

 

End of Block

SSIDET

26

-----| End of Sequence B Standing Settlement Instruction Details

Optional Sequence C Other Details

M

16R

 

 

Start of Block

OTHRDET

27

----->

O

70E

ADTX

Narrative

Additional Text Narrative

:4!c//10*35x

28

-----|

O

22F

PMTH

Indicator

Payment Method Indicator

:4!c/[8c]/4!c

29

M

16S

 

 

End of Block

OTHRDET

30

End of Sequence C Other Details

MT671 Network Validated Rules

There are no network validated rules for this message type.