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MT 207 Field Specifications

5. Field 51A: Initiating Institution

FORMAT

Option A [/1!a][/34x]
4!a2!a2!c[3!c]
(Party Identifier)
(Identifier Code)

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field identifies the institution which is authorised by the ordering institution/account servicing institution to order all the transactions in the message.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error code(s): C05).

USAGE RULES

This field must only be used when the initiating institution is not also the ordering institution.

Optional Party Identifier must not be used.