SWIFT ISO 15022 - Code INIT Meanings Initiation: First call for collateral. Initiation: Creation of a Collateral Management Transaction. Usages Message type Field number Tag MT503 (Collateral Claim) 11 22a (Indicator) MT504 (Collateral Proposal) 11 22a (Indicator) MT527 (Triparty Collateral Instruction) 6 22a (Indicator) MT558 (Triparty Collateral Status and Processing Advice) 6 22a (Indicator)