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SWIFT ISO15022 Standard
Detail view for message MT671 - Standing Settlement Instruction Update Notification

 Purpose of the message MT671

Specifies standing settlement instructions for one or more currencies.

 Scope of the message MT671

The MT 671 Standing Settlement Instruction (SSI) Update Notification message is sent by SWIFT to an institution as a result of receiving an MT 670 Standing Settlement Instruction Update Notification Request. The MT 671 is created from the corresponding MT 670. The MT 671 is a notification of an SSI update from the party identified in the message as the Submitting Party to:

  • one or more institutions or
  • all institutions in one or more countries or
  • all institutions.

The MT 671 specifies standing cash settlement information for the account of the Submitting Party 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 MT671

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
7
95a
P
Party
M
 
 
Q
 
 
8
22F
 
Indicator: SSI Update Type
M
9
97A
 
Account: Safekeeping Account
O
10
16S
 
End of Block
M
Sequence B - Standing Settlement Instruction Details  [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
11
16R
 
Start of Block
M
12
22H
 
Indicator: SSI Purpose
M
13
20C
 
Reference: SSI Reference
O
14
11A
 
Currency: SSI Currency
M
15
98A
 
Date: Effective Date
M
16
22F
 
Indicator
M
Sequence B1 - Cash Parties  [ mandatory, repetitive ]
No.
Tag
Option
Name
Status
17
16R
 
Start of Block
M
18
95a
P
Party
M
 
 
Q
 
 
 
 
R
 
 
 
 
S
 
 
19
97A
 
Account: Cash Account
O
20
16S
 
End of Block
M
Sequence B2 - Other Details  [ optional, nonrepetitive ]
No.
Tag
Option
Name
Status
21
16R
 
Start of Block
M
22
70E
 
Narrative: Additional Text Narrative
O
23
22F
 
Indicator: Payment Method Indicator
O
24
16S
 
End of Block
M
25
16S
 
End of Block
M
Sequence C - 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
◄   MT670 - Standing Settlement Instruction Update Notification Request
MT690 - Advice of Charges, Interest and Other Adjustments   ►