MT 567 Field Specifications

13. Field 24B: Reason Code

FORMAT

Option B

:4!c/[8c]/4!c

(Qualifier) (Data Source Scheme) (Reason Code)

PRESENCE

Mandatory in an optional sequence

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	CR	Options	Qualifier Description
1	M	PEND	N	C1	B	Pending Reason
	or	REJT	N	C1	B	Rejection Reason
	or	CAND	N	C1	B	Cancellation Reason
	or	CANP	N	C1	B	Cancellation Pending Reason
	or	DEND	N	C1	B	Denied Reason
	or	PACK	N	C1	B	Acknowledged/Accepted Reason
1	M	PEND	N		B	Pending Reason
	or	REJT	N		B	Rejection Reason
	or	CAND	N		B	Cancellation Reason

DEFINITION

This qualified generic field specifies:

PEND	Pending Reason	Reason related instruction/ event has a pending processing status.
REJT	Rejection Reason	System reason related instruction has a rejected processing status.
CAND	Cancellation Reason	Reason instruction was cancelled.
CANP	Cancellation Pending Reason	Reason cancellation is pending.
DEND	Denied Reason	Business reason instruction/cancellation is denied.
PACK	Acknowledged/Accepted Reason	Additional information of the acknowledged/accepted status.

PEND	Pending Reason	Reason related instruction/ message has a pending processing status.
REJT	Rejection Reason	Reason related instruction has a rejected processing status.
CAND	Cancellation Reason	Reason instruction was cancelled.

CODES

If Qualifier is PEND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis..
AUTH	Sent to Tax Authorities	For tax reclaim, the event is pending because the reclaim is sent to the tax authorities.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
CONF	Confirmation of Payment	Prior payment credited to account based on contractual income collection agreement has been collected from issuer.
IPNC	Instruction Processed	Instruction has been processed and cannot be cancelled.
LACK	Insufficient Securities	Insufficient securities to execute the instruction; instruction pending receipt of securities.
LATE	Market Deadline Missed	Received after market deadline.
LATT	Late Instruction	Instruction received after deadline, processing based on reasonable endeavour.
MCER	Missing or Invalid Certification	Missing or invalid certification; instruction pending until receipt of adequate certification.
MONY	Insufficient Cash	Insufficient cash in your account.
NARR	Narrative Reason	See reason narrative for details.
NPAY	Payment Not Made	Payment has not been made by issuer.
NSEC	Securities Not Delivered	Securities have not been delivered by issuer.
OVER	Overelection	The instructed position exceeds the eligible balance.
PENR	Pending Receipt	The instruction is pending receipt of securities from a purchase, loan, etc.
AUTH	Sent to Tax Authorities	For tax reclaim, the event is pending because the reclaim is sent to the tax authorities.
VLDA	Valid for Tax Authorities	For tax reclaim, the event is pending, the tax reclaim is valid for the tax authorities.

CODES

If Qualifier is REJT and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ULNK	Unknown	The message was not recognised (unknown linked reference).
ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
ADEA	Instruction Received After Response Deadline	Instruction was received after response deadline date.
NARR	Invalid Instruction	Invalid instruction (see reason narrative).
LACK	Lack of Securities	Insufficient deliverable securities in your account. The account owner has over-instructed.
LATE	Market Deadline Missed	Received after market deadline.
CASH	Disagreement Cash Account	Unrecognised or invalid cash account.
SAFE	Disagreement Safekeeping Account	Unrecognised or invalid safekeeping account.
DSEC	Disagreement Security	Unrecognised or invalid financial instrument identification.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.
INVA	Invalid for Tax Authorities	For tax reclaim, the reclaim is invalid for the tax authorities.
REFT	Refused by the Tax Authorities	For tax reclaim, the reclaim is refused by the tax authorities.
EVNM	Unrecognised Corporate Action Event Number	Unrecognised corporate action event number.
NMTY	Mismatch Option Number and Option Type	Mismatch between option number and option type.
OPNM	Unrecognised Option Number	Unrecognised option number.
OPTY	Invalid Option Type	Invalid option type.
OVER	Overelection	The instructed position exceeds the eligible balance.

CODES

If Qualifier is DEND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
DCAN	Denied Since Already Cancelled	The cancellation request has been denied since the instruction has already been cancelled.
DPRG	Denied Since in Progress	The cancellation request has been denied because the instruction process is in progress.
IPNC	Instruction Processed	Instruction has been processed and cannot be cancelled.
LATE	Market Deadline Missed	Received after market deadline.
NARR	Invalid Instruction	Invalid instruction (see reason narrative).

CODES

If Qualifier is CANP and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline.
LATE	Market Deadline Missed	Received after market deadline.
NARR	Narrative Reason	See reason narrative for details.
DQUA	Disagreement on Quantity	Unrecognised or invalid instructed quantity.

CODES

If Qualifier is CAND and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

CANI	Cancelled By Yourselves	The instruction has been cancelled as you requested.
CANO	Cancelled by another party	The instruction has been cancelled by another party than the instructing party, e.g. market infrastructure such as a Stock Exchange.
CANS	Cancelled By System	The instruction has been cancelled by the system.
CSUB	Cancelled by Subcustodian	The instruction has been cancelled by the subcustodian.
NARR	Narrative	Other (see narrative reason).

CODES

If Qualifier is PACK and Data Source Scheme is not present, Reason Code must contain one of the following codes (Error code(s): K24):

ADEA	Account Servicer Deadline Missed	Received after the account servicer's deadline. Processed on best effort basis.
LATE	Market Deadline Missed	Instruction was received after market deadline.
NARR	Narrative Reason	See reason narrative for details.
NSTP	Not STP	The instruction was not STP and had to be processed manually.
OVER	Overelection	The instructed position exceeds the eligible balance.

USAGE RULES

The qualifier of the reason code should be in line with the code used for the status in field 25D,
eg, :25D::EPRC//PEND
:24B::PEND//MCER