SWIFT ISO15022 Standard
Detail view for message MT670 - Standing Settlement Instruction Update Notification Request
Financial acronyms
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Purpose of the message MT670
Requests SWIFT to create the MT 671 from the MT 670 and send to financial institutions.
Scope of the message MT670
The MT 670 Standing Settlement Instruction (SSI) Update Notification Request message is sent by an institution to SWIFT. It is an instruction to SWIFT to create the MT 671 Standing Settlement Instruction Update Notification for forwarding to:
- one or more institutions or
- all the institutions in one or more countries or
- all institutions.
The MT 670 is used to specify standing cash settlement information for the Sender's own account or on behalf of another party. The party and account information in the SSI is then used in FX confirmations, payments messages, etc.
Structure of the message MT670
Sequence A - General information [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
1
16R
Start of Block
M
2
20C
Reference: Sender's Message Reference
M
3
23G
Function of the Message
M
Sequence A1 - Linkages [ optional, repetitive ]
No.
Tag
Option
Name
Status
4
16R
Start of Block
M
5
20C
Reference
M
6
16S
End of Block
M
Sequence A2 - Distribution Parameter [ mandatory, nonrepetitive ]
No.
Tag
Option
Name
Status
7
16R
Start of Block
M
8
95P
Party: SSI Recipient
O
9
94C
Place: SSI Recipient Country
O
10
22H
Indicator: SSI Recipient
O
11
16S
End of Block
M
12
95a
P
Party
M
Q
13
22F
Indicator: SSI Update Type
M
14
97A
Account: Safekeeping Account
O
15
16S
End of Block
M
Sequence B - Standing Settlement Instruction Details [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
16
16R
Start of Block
M
17
22H
Indicator: SSI Purpose
M
18
20C
Reference: SSI Reference
O
19
11A
Currency: SSI Currency
M
20
98A
Date: Effective Date
M
21
22F
Indicator
M
Sequence B1 - Cash Parties [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
22
16R
Start of Block
M
23
95a
P
Party
M
Q
R
S
24
97A
Account: Cash Account
O
25
16S
End of Block
M
Sequence B2 - Other Details [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
26
16R
Start of Block
M
27
70E
Narrative: Additional Text Narrative
O
28
22F
Indicator: Payment Method Indicator
O
29
16S
End of Block
M
30
16S
End of Block
M
Sequence C - Other Details [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
31
16R
Start of Block
M
32
70E
Narrative: Additional Text Narrative
O
33
22F
Indicator: Payment Method Indicator
O
34
16S
End of Block
M