MT507: (25) Field 24B: Reason Code: Rejection Reason
FORMAT
| Option B | :4!c/[8c]/4!c | (Qualifier)(Data Source Scheme)(Reason Code) |
PRESENCE
Optional in conditional (see rule C2) sequence B
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
|---|---|---|---|---|---|---|
1 |
O |
REJT |
N |
|
B |
Rejection Reason |
DEFINITION
This qualified generic field specifies:
REJT |
Rejection Reason |
Specifies the reason why the collateral piece has a rejected status. |
CODES
If Data Source Scheme is not present, Reason Code must contain one of the following codes:
CONL |
Concentration Limit Exceeded |
Concentration limit was exceeded. |
INEL |
Ineligible Collateral |
Ineligible piece of collateral. |
NARR |
Narrative |
See narrative field for reason. |
WBKG |
Wrong Bank Quoted |
Wrong bank is quoted on the bank guarantee or documentary credit. |
WSET |
Wrong Settlement Parties |
Settlement parties are incorrect. |
