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MT 507 Field Specifications

25. Field 24B: Reason: Rejection Reason

FORMAT

Option B :4!c/[8c]/4!c (Qualifier)(Data Source Scheme)(Reason Code)

PRESENCE

Optional in conditional (see rule C2) sequence B

QUALIFIER

(Error code(s): T89)

Order M/O Qualifier R/N CR Options Qualifier Description
1 O REJT N   B Rejection Reason

DEFINITION

This qualified generic field specifies:

REJT Rejection Reason Specifies the reason why the collateral piece has a rejected status.

CODES

If Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

CONL Concentration Limit Exceeded Concentration limit was exceeded.
INEL Ineligible Collateral Ineligible piece of collateral.
NARR Narrative See narrative field for reason.
WBKG Wrong Bank Quoted Wrong bank is quoted on the bank guarantee or documentary credit.
WSET Wrong Settlement Parties Settlement parties are incorrect.