MT 516 Field Specifications

23. Field 87a: Receiver/Deliverer of Securities

FORMAT

Option A	[/1!a][/34x] 4!a2!a2!c[3!c]	(Party Identifier) (BIC)
Option D	[/1!a][/34x] 4*35x	(Party Identifier) (Name & Address)

PRESENCE

Optional

DEFINITION

This field identifies the financial institution which will receive securities used as collateral.

NETWORK VALIDATED RULES

The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

USAGE RULES

When field 23 contains NEWLON, this field identifies the financial institution which will receive securities used as collateral, on behalf of the lender of the securities on loan.

When field 23 contains RETURN or RECALL, this field identifies the financial institution which will receive securities used as collateral, on behalf of the borrower of the securities on loan.

This field may only be present in those cases where the collateral is in the form of securities, eg, field 26H contains SECUCOLL, OTHECOLL or EXISTING.