MT 504 Field Specifications

34. Field 17B: Flag: Ownership Flag

FORMAT

Option B

:4!c//1!a

(Qualifier) (Flag)

PRESENCE

Optional in a conditional (C4) subsequence

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	O	OWNF	N		B	Ownership Flag

DEFINITION

This qualified generic field specifies:

OWNF

Ownership Flag

This field indicates whether the collateral giver owns the proposed collateral or not.

CODES

Flag must contain one of the following codes (Error code(s): K17):

N	No	The collateral giver doesn't own the proposed collateral.
Y	Yes	The collateral giver owns the proposed collateral.

USAGE RULES

The bilateral agreement should include whether the ownership flag is part of the eligibility criteria. If it is part of the eligibility criteria, the ownership flag should be present, otherwise it is not needed.