MT 330 Usage Rules

The following guidelines apply when sending/exchanging an MT 330:

• For the actual transfer of funds or the confirmation of credits and debits, other messages outside Category 3 are available, such as the MTs 202/203/205, Financial Institution Transfer messages and the MTs 900/910/950, Confirmation of Debit/Credit and Statement messages, respectively.

  In all cases, the common reference of the MT 330 must be quoted in the relevant reference field, ie, field 21 of the MTs 202, 203, 205.

• If the underlying contract is amended/cancelled on a bilateral basis, this should be agreed upon by a bilateral exchange of confirmations with either code AMND or CANC, respectively.

• When cancelling a previously sent message (field 22A is CANC) using MT 330 :

  • field 21 must contain the reference (ie, the content of field 20) of the message containing the instruction to be cancelled

  • the cancellation message must contain a copy of at least the mandatory fields of the original message.

• Sending an MT 330 with code word CANC in field 22A, cancels both the underlying contract and the previously sent confirmation message as referred to in field 21 Related Reference.

• To amend a previously sent message (field 22A is AMND):

  • field 21 must contain the reference (ie, the content of field 20) of the message containing the instruction to be amended

  • the amendment message must contain both the unchanged and the changed/new fields of the original message

  • the amendment message replaces the original message.

• The sequence E Settlement Instructions for Interests Payable by Party A should only be used when the instructions in this sequence are different from the instructions in sequence C Settlement Instructions for Amounts Payable by Party A.

• The sequence F Settlement Instructions for Interests Payable by Party B should only be used when the instructions in this sequence are different from the instructions in sequence D Settlement Instructions for Amounts Payable by Party B.

• When a new deal is confirmed, the complete settlement instructions of both parties (Sequences C and D) are exchanged and matched. Any further message relative to this deal should repeat those settlement instructions. Payments resulting from a movement will be triggered by the content of field 32H (direction of the transfer) and field 30V (value date).

• Advice of an interest payment for an MT 330 is indicated by an MT 350 sent by the payer and an MT 330 should not be sent to indicate that the Sender expects to receive an interest payment from the Receiver.

• The tables below show how the different amount fields involved in the deal can be indicated.

  Unless specifically mentioned, the presence of the fields mentioned in those tables is mandatory for the different situations described.

  The conditional rules applying to a specific field are indicated next to that field.

Example of a Deposit (Party A is the Lender), the table is presented from Party A's point of view, the interest rate is positive.

Interest can be transferred at the time of a change of interest or principal, and in that case, the information relative to that payment is mentioned in fields 30X and 34E

Fields	New Contract	Interest Change No Other Change	Increase of Principal	Decrease of Principal	Settlement
22B	CONF	CINT	CHNG	CHNG	SETT
17R	L	L	L	L	L
32B (C3)	Balance	Balance	New Balance	New Balance	Not allowed
32H (C3)	Not allowed	Amount equals 0	Increase Amount***	Decrease Amount preceded by Negative Sign N***	Final Balance preceded by Negative Sign N**
30X (C3)	Not allowed	Optional Interest Payment Date	Optional Interest Payment Date	Optional Interest Payment Date	Settlement Date
34E (C5)	Not allowed	Optional Interest Amount Due preceded by Negative Sign N	Optional Interest Amount Due preceded by Negative Sign N	Optional Interest Amount Due preceded by Negative Sign N	Last Interest Amount preceded by Negative Sign N*

Note:

* Calculated for the period between last payment date and settlement date. ** Final Balance equals field 32B (Balance) of the previous confirmation (last movement before settlement) plus the Last Interest Amount when both amounts are transferred in one single cash flow. *** It is recommended not to include the Interest Amount with the increase or the decrease of the Principal Amount as it normally does not belong to the same cash flow.

Example of a Loan (Party A is the Borrower), the table is presented from Party A's point of view, the interest rate is positive.

Fields	New Contract	Interest Change No Other Change	Increase of Principal	Decrease of Principal	Settlement
22B	CONF	CINT	CHNG	CHNG	SETT
17R	B	B	B	B	B
32B (C3)	Balance	Balance	New Balance	New Balance	Not allowed
32H (C3)	Not allowed	Amount equals 0	Increase Amount preceded by Negative Sign N***	Decrease Amount***	Final Balance**
30X (C3)	Not allowed	Optional Interest Payment Date	Optional Interest Payment Date	Optional Interest Payment Date	Settlement Date
34E (C5)	Not allowed	Optional Interest Amount Due	Optional Interest Amount Due	Optional Interest Amount Due	Last Interest Amount*

Note:

* Calculated for the period between last payment date and settlement date. ** Final Balance equals field 32B (Balance) of the previous confirmation (last movement before settlement) plus the Last Interest Amount when both amounts are transferred in one single cash flow. *** It is recommended not to include the Interest Amount with the increase or the decrease of the Principal Amount as it normally does not belong to the same cash flow.