MT 365 Field Specifications

8. Field 23A: Identification of the Swap

FORMAT

Option A

10a/5a

(Type of Swap) (Settlement Method)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of the original cross currency interest rate swap (CS) which is terminated/recouponed as well as the settlement method used.

CODES

Type of Swap must contain one of the following codes (Error code(s): T47):

FIXEDFIXED	Both parties pay fixed rates.
FIXEDFLOAT	Party A pays fixed and receives floating rates.
FLOATFIXED	Party A pays floating and receives fixed rates.
FLOATFLOAT	Both parties pay floating rates.

CODES

Settlement Method must contain the following code (Error code(s): T48):

GROSS

All due amounts are to be paid in full.