MT 341 Field Specifications

7. Field 23D: Type of FRA

FORMAT

Option D

10a

(Type)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of FRA for which the settlement is done.

CODES

Type must contain one of the following codes (Error code(s): T48):

FIXEDFLOAT	Party A is the FRA buyer, ie, pays the fixed and receives the floating rate.
FLOATFIXED	Party A is the FRA seller, ie, receives the fixed and pays the floating rate.