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SWIFT ISO15022 Standard
Detail view for message MT670 - Standing Settlement Instruction Update Notification Request

 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
◄   MT649 - General Syndicated Facility Message
MT671 - Standing Settlement Instruction Update Notification   ►