The details of a securities loan or its recall or return are usually agreed by the two parties via telephone or other means.
The confirmation of a recall or return must contain in field 35N the quantity of securities recalled or returned and in field 35A the remaining quantity of securities out on loan.
Alternatively, if the practice is to close-out a loan in the event of a partial return or partial recall, fields 35A and 35N must be equal.
Adjustments to the collateral amount must not be conveyed by this message. The MT 581 must be used to request or confirm adjustments to the collateral amount.
The cancellation of this message must be conveyed using the MT 592 Request for Cancellation.
To amend or correct a securities loan confirmation, it is necessary to cancel the original message and send a new confirmation message.