MT516: (23) Field 87a: Receiver/Deliverer of Securities
FORMAT
| Option A | [/1!a][/34x] 4!a2!a2!c[3!c] |
(Party Identifier) (Identifier Code) |
| Option D | [/1!a][/34x] 4*35x |
(Party Identifier) (Name and Address) |
PRESENCE
Optional in optional sequence B
DEFINITION
This field identifies the financial institution which will receive securities used as collateral.
NETWORK VALIDATED RULES
Identifier Code must be a registered BIC.
USAGE RULES
When field 23 contains NEWLON, this field identifies the financial institution which will receive securities used as collateral, on behalf of the lender of the securities on loan.
When field 23 contains RETURN or RECALL, this field identifies the financial institution which will receive securities used as collateral, on behalf of the borrower of the securities on loan.
This field may only be present in those cases where the collateral is in the form of securities, for example, field 26H contains SECUCOLL, OTHECOLL or EXISTING.
