MT564: (4) Field 23G: Function of the Message
FORMAT
| Option G | 4!c[/4!c] | (Function)(Subfunction) |
PRESENCE
Mandatory (referenced in rules C3, C9, C14, C15, and C17) in mandatory sequence A
DEFINITION
This field identifies the function of the message.
CODES
Function must contain one of the following codes:
ADDB |
Additional Business Process |
Message sent to notify an additional business process to a corporate action. |
CANC |
Cancellation Advice |
Message to cancel a corporate action event previously announced by the account servicer or a previously sent Preliminary Advice of Payment message (:22F::ADDB//CAPA in sequence D). |
NEWM |
New |
New message. |
REPE |
Eligible Balance Notification |
Message reporting an eligible balance that may or may not include an entitlement calculation or a revised entitlement calculation. |
REPL |
Replacement |
Message replacing a previously sent message. |
RMDR |
Reminder |
Message sent as a reminder of an event taking place. |
WITH |
Withdrawal |
Message sent to void a previously sent notification due to the withdrawal of the event or offer by the issuer. |
CODES
Subfunction, when present, must contain one of the following codes:
CODU |
Copy Duplicate |
Message is a copy to a party other than the account owner/account servicer, for information purposes and the message is a duplicate of a message previously sent. |
COPY |
Copy |
Message is a copy to a party other than the account owner/account servicer, for information purposes. |
DUPL |
Duplicate |
Message is for information/confirmation purposes. It is a duplicate of a message previously sent. |
USAGE RULES
To cancel or withdraw a previously announced corporate action event, Function is respectively CANC or WITH. The presence of the Sender's reference of the message to be cancelled (PREV) is not required in the linkages sequence. A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.
To cancel a previously sent Preliminary Advice of Payment message (:22F::ADDB//CAPA in sequence D), Function is CANC and the field :22F::ADDB//CAPA must be present in sequence D of the MT 564 CANC message. The reference in the linkages sequence must contain the Sender's reference of the message to be cancelled (PREV). A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.
REPL is used to replace a previously sent message that was reported as preliminary or complete, for example, processing status was :25D::PROC//PREU, PREC or COMP.
REPE is considered as simply a confirmation of an eligible balance when :22F::ADDB//CAPA is not present in sequence D and is considered as a movement preliminary advice when :22F::ADDB//CAPA is present in sequence D.
