Show/Hide TOC

MT 504 Field Specifications

34. Field 17B: Flag: Ownership Flag

FORMAT

Option B :4!c//1!a (Qualifier)(Flag)

PRESENCE

Optional in conditional (see rule C4) subsequence C1

QUALIFIER

(Error code(s): T89)

Order M/O Qualifier R/N CR Options Qualifier Description
1 O OWNF N   B Ownership Flag

DEFINITION

This qualified generic field specifies:

OWNF Ownership Flag Indicates whether the collateral giver owns the proposed collateral.

CODES

Flag must contain one of the following codes (Error code(s): K17):

N No The collateral giver doesn't own the proposed collateral.
Y Yes The collateral giver owns the proposed collateral.

USAGE RULES

The bilateral agreement must include whether the ownership flag is part of the eligibility criteria. If it is part of the eligibility criteria, the ownership flag must be present, otherwise it is not needed.