| ISO20022

MT567: (13) Field 24B: Reason Code

FORMAT

Option B

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

(Qualifier)(Data Source Scheme)(Reason Code)

PRESENCE

Mandatory in optional subsequence A2a

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	PEND	N	C1	B	Pending Reason
	or	REJT	N	C1	B	Rejection Reason
	or	CAND	N	C1	B	Cancellation Reason
	or	CANP	N	C1	B	Cancellation Pending Reason
	or	PACK	N	C1	B	Accepted Reason

DEFINITION

This qualified generic field specifies:

CAND	Cancellation Reason	Specifies the reason why the instruction is cancelled.
CANP	Cancellation Pending Reason	Specifies the reason why a cancellation request sent for the related instruction is pending.
PACK	Accepted Reason	Specifies additional information about the processed instruction.
PEND	Pending Reason	Specifies the reason why the instruction/event has a pending status.
REJT	Rejection Reason	Specifies the reason why the instruction/cancellation request has a rejected status.

CODES

If Qualifier is PEND and Data Source Scheme is not present, Reason Code must contain one of the following codes:

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
AUTH	Sent to Tax Authorities	For tax reclaim, the event is pending because the reclaim is sent to the tax authorities.
BSTR	Before Instruction Period	Instruction is submitted before instruction start date.
CERT	Incorrect Certification	The provided certification is incorrect or incomplete.
DQCS	Disagreement on Cash Amount	Unrecognised or invalid instructed cash amount.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
FULL	Pending Beneficiary Owner Details	Pending receipt of beneficiary owner details.
IPAW	Invalid Paperwork	Required paperwork is invalid, incomplete, or missing.
ITAX	Incorrect Tax Rate	Tax rate provided is incorrect. It falls outside the acceptable values for that investment country.
LACK	Lack of Securities	Insufficient financial instruments in your account.
LATE	Market Deadline Missed	Instruction was received after market deadline.
MCER	Missing or Invalid Certification	Awaiting receipt of adequate certification.
MONY	Insufficient Cash	Insufficient cash in your account.
MTAX	Missing Tax Rate	Tax rate is missing.
NARR	Narrative Reason	See narrative field for reason.
NPAY	Payment Not Made	Payment has not been made by issuer.
NSEC	Securities Not Delivered	Financial instruments have not been delivered by the issuer.
NTAX	Inconsistent Tax Rate	Tax rate is not consistent with the documentation in place.
PENR	Pending Receipt	The instruction is pending receipt of securities, for example, from a purchase, loan etc.
SNAV	System Not Available	System is not available. Instruction is sent outside of business hours.
VLDA	Valid for Tax Authorities	For tax reclaim, the event is pending, the tax reclaim is valid for the tax authorities.

CODES

If Qualifier is REJT and Data Source Scheme is not present, Reason Code must contain one of the following codes:

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
BSTR	Before Instruction Period	Instruction is submitted before instruction start date.
CANC	Cancelled	Option is not valid; it has been cancelled by the market or service provider, and cannot be responded to. Any responses already processed against this option are considered void and new responses will be required.
CERT	Incorrect Certification	Instruction is rejected since the provided certification is incorrect or incomplete.
CTCT	Missing Contact	Contact information is missing.
DCAN	Rejected Since Already Cancelled	Cancellation request was rejected since the instruction has already been cancelled.
DPRG	Rejected Since In Progress	Cancellation request has been rejected because the instruction process is in progress or has been processed.
DQAM	Instruction Type Rejection	Invalid use of instructed amount (QCAS) or of instructed quantity (QINS) qualifiers.
DQBI	Invalid Bid Increment	Bid price/basis points/percentage increments rejected due to invalid bid increment for the event (generally used in Dutch Auctions or Bid Tenders).
DQBV	Invalid Bid Value	Bid price/basis points/percentage falls outside of bid range for the event (generally used in Dutch Auctions or Bid Tenders).
DQCC	Currency Rejection	Invalid instructed currency.
DQCS	Amount Rejection	Unrecognised or invalid instructed cash amount.
DQUA	Quantity Rejection	Unrecognised or invalid instructed quantity.
DSEC	Security Rejection	Unrecognised or invalid financial instrument identification.
DUPL	Duplicate Instruction	Instruction is rejected due to duplicate business message identifier.
EVNM	Unrecognised Corporate Action Event Number Rejection	Unrecognised corporate action event number.
FULL	Missing Beneficiary Owner Details	Rejected due to missing beneficiary owner details.
INIR	Instruction Irrevocable	The instruction is irrevocable.
INTV	Inactive	Option is not active and can no longer be responded to. Any responses already processed against this option will remain valid, for example, expired option.
INVA	Invalid for Tax Authorities	For tax reclaim, the reclaim is invalid for the tax authorities.
IPAW	Invalid Paperwork	Required paperwork is invalid, incomplete, or missing.
IRDQ	Invalid Use Round Up Quantity	Instruction is rejected due to invalid use of additional round up quantity (RDUQ).
ISOL	Invalid Solicitation Dealer Fee Use	Invalid use of solicitation dealer fee indicator.
ITAX	Incorrect Tax Rate	Tax rate provided is incorrect. It falls outside the acceptable values for that investment country.
LACK	Lack of Securities	Instructed position exceeds the eligible balance.
LATE	Market Deadline Missed	Received after market deadline.
MTAX	Missing Tax Rate	Tax rate is missing.
NARR	Narrative Reason	See narrative field for reason.
NMTY	Mismatch Option Number and Option Type Rejection	Mismatch between option number and option type.
NTAX	Inconsistent Tax Rate	Tax rate is not consistent with the documentation in place.
OPNM	Option Number Rejection	Unrecognised option number.
OPTY	Option Type Rejection	Invalid option type.
PROI	Missing Protect Identification	Protect identification is required for cover protect instructions.
PRON	No Protect Privilege	No protect privilege for this event.
PROT	Missing Protect Date	Protect date is required for cover protect instructions.
REFT	Refused by the Tax Authorities	Reclaim is refused by the tax authorities.
REJA	Rejected By Issuer Agent	Instruction rejected by the issuer agent.
SAFE	Safekeeping Account Rejection	Unrecognised or invalid message sender's safekeeping account.
SHAR	Shareholder Number Missing	Shareholder number or reference is missing.
TRTI	Missing Transaction Type	Transaction type is missing or invalid for protect or cover protect instructions.
ULNK	Unknown	Linked reference is unknown.

CODES

If Qualifier is CAND and Data Source Scheme is not present, Reason Code must contain one of the following codes:

CANI	Cancelled By Yourselves	Instruction has been cancelled as per your request.
CANO	Cancelled by Another Party	Instruction has been cancelled by another party than the instructing party, for example market infrastructure such as a Stock Exchange.
CANS	Cancelled By System	Instruction has been cancelled by the system.
CSUB	Cancelled By Subcustodian	Instruction has been cancelled by the agent, for example, due to an event deadline extension.
NARR	Narrative Reason	See narrative field for reason.

CODES

If Qualifier is CANP and Data Source Scheme is not present, Reason Code must contain one of the following codes:

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
DQCS	Disagreement on Cash Amount	Unrecognised or invalid instructed cash amount.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
LATE	Market Deadline Missed	Received after market deadline.
NARR	Narrative Reason	See narrative field for reason.

CODES

If Qualifier is PACK and Data Source Scheme is not present, Reason Code must contain one of the following codes:

NARR	Narrative Reason	See narrative field for reason.
NSTP	Not STP	Instruction was not STP and had to be processed manually.

USAGE RULES

The qualifier of the reason code must be in line with the code used for the status in field 25D, for example, :25D::EPRC//PEND
:24B::PEND//MCER