 Option D |
6*35x |
(Narrative) |
Optional in mandatory sequence A
This field specifies the underlying legal agreement.
Narrative may contain one of the following codes, placed between slashes ('/'):
| FIDU |
The trade is a fiduciary. |
| TBIL |
The trade is the result of the issuance of a "Sterling Acceptance " or a "Treasury Bill" sent from the borrower to the lender and confirmed by the lender. At maturity, the borrower will pay a pre-arranged amount back to the lender. |
| WITH |
Withholding taxes apply. |
This field may refer to master agreements; it may also refer to local regulations or specific conditions applicable to the trade.
If this field is not present, the deal conforms either to bilateral agreements or to usual banking practices.
The absence of the codes WITH and/or FIDU does not mean that withholding taxes do not apply or that the trade is the result of proprietary trading, it only means that the information is not relevant for the Receiver.
