MT 320 Field Specifications

12. Field 77D: Terms and Conditions

FORMAT

Option D

6*35x

(Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the underlying legal agreement.

CODES

Narrative may contain one of the following codes:

/FIDU/	The trade is a fiduciary.
/TBIL/	The trade is the result of the issuance of a "Sterling Acceptance " or a "Treasury Bill" sent from the borrower to the lender and confirmed by the lender. At maturity, the borrower will pay a pre-arranged amount back to the lender.
/WITH/	Withholding taxes apply.

USAGE RULES

This field may refer to master agreements; it may also refer to local regulations or specific conditions applicable to the trade.

If this field is not present, the deal conforms either to bilateral agreements or to usual banking practices.

The absence of the codes /WITH/ and/or /FIDU/ does not mean that withholding taxes do not apply or that the trade is the result of proprietary trading, it only means that the information is not relevant for the Receiver.