MT586 Format Specifications

MT586 Network Validated Rules

• C1. If the activity flag (field :17B:ACTI) in sequence A General Information is N, then sequence B must not be present. Otherwise, sequence B is mandatory .

  Sequence A if field :17B::ACTI is ...	Sequence B is ...
  N	Not allowed
  Y	Mandatory

• C2. If the instruction is against payment (:22H::PAYM//APMT) then it is mandatory to specify a Settlement Amount (field :19A::SETT). This rule applies to sequence B .

  Sequence B if field :22H::PAYM is ...	Then subsequence B5c is ...	And in one occurrence of subsequence B5c field :19A::SETT
  APMT	Mandatory	Mandatory
  Not equals APMT	Optional	Optional

• C3. Within each occurrence of sequence B the following amount fields cannot appear in more than one occurrence of the amounts subsequence B5c :

  Subsequence B5c

  :19A::ACRU

  :19A::CHAR

  :19A::COUN

  :19A::DEAL

  :19A::EXEC

  :19A::ISDI

  :19A::LEVY

  :19A::LOCL

  :19A::LOCO

  :19A::MARG

  :19A::OTHR

  :19A::POST

  :19A::REGF

  :19A::SETT

  :19A::SHIP

  :19A::SPCN

  :19A::STAM

  :19A::STEX

  :19A::TRAN

  :19A::TRAX

  :19A::VATA

  :19A::WITH

  :19A::COAX

  :19A::ACCA

  :19A::ANTO

• C4. If an exchange rate (field :92B::EXCH) is present, the corresponding resulting amount (field :19A::RESU) must be present in the same subsequence. If the exchange rate is not present then the resulting amount is not allowed. This check applies within each occurrence of subsequence B5c .

  Subsequence B5c if field :92B::EXCH is ...	Subsequence B5c then field :19A::RESU is ...
  Present	Mandatory
  Not present	Not allowed

• C5. The following party fields cannot appear more than once in the same occurrence of sequence B :

  Subsequence B5a	Subsequence B5b
  :95a::BUYR	:95a::ACCW
  :95a::DEAG	:95a::BENM
  :95a::DECU	:95a::PAYE
  :95a::DEI1
  :95a::DEI2
  :95a::PSET
  :95a::REAG
  :95a::RECU
  :95a::REI1
  :95a::REI2
  :95a::SELL

• C6. Within each occurrence of sequence B, if the allegement is a delivery (:22H::REDE//DELI in sequence B), then it is mandatory to specify a delivering agent: one occurrence of subsequence B5a Settlement Parties must contain party field :95a::DEAG .

  Within each occurrence of sequence B, if the allegement is a receipt (:22H::REDE//RECE in sequence B), then it is mandatory to specify a Receiving Agent: One occurrence of subsequence B5a Settlement Parties must contain party field :95a::REAG .

  Sequence B if field :22H::REDE is ...	then in the same occurrence of seq. B, in one occurrence of seq. B5a field :95a::DEAG
  DELI	Must be present

  Sequence B if field :22H::REDE is ...	then in the same occurrence of seq. B, in one occurrence of seq. B5a field :95a::REAG
  RECE	Must be present

• C7. If a qualifier from the list deliverers is present in a subsequence B5a, in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list deliverers (see below) must be present .

  In other words, in subsequence B5, the following scenarios must be validated:

  • If :95a::DEI2 is present in subseq B5a, then :95a::DEI1 must be present in another subseq B5a.

  • If :95a::DEI1 is present in subseq B5a, then :95a::DECU must be present in another subseq B5a.

  • If :95a::DECU is present in subseq B5a, then :95a::SELL must be present in another subseq B5a.

  If a qualifier from the list receivers is present in a subsequence B5a, in a field :95a::4!c, then all the remaining qualifiers following this qualifier in the list receivers (see below) must be present.

  In other words, in subsequence B5, the following scenarios must be validated:

  • If :95a::REI2 is present in subseq B5a, then :95a::REI1 must be present in another subseq B5a.

  • If :95a::REI1 is present in subseq B5a, then :95a::RECU must be present in another subseq B5a.

  • If :95a::RECU is present in subseq B5a, then :95a::BUYR must be present in another subseq B5a.

  Deliverers		Receivers
  DEI2	Deliverer's Intermediary 2	REI2	Receiver's Intermediary 2
  DEI1	Deliverer's Intermediary 1	REI1	Receiver's Intermediary 1
  DECU	Deliverer's Custodian	RECU	Receiver's Custodian
  SELL	Seller (Deliverer)	BUYR	Buyer (Receiver)

• C8. If the message is a cancellation, ie, Function of the Message (field 23G) is CANC, then subsequence A1 (Linkages) must be present at least once in the message, and in one and only in one occurrence of A1, field :20C::PREV must be present; consequently, in all other occurrences of A1, field :20C::PREV is not allowed .

  Sequence A if field :23G: is ...	then subsequence A1 is ...	and field :20C::PREV is ...
  CANC	Mandatory (minimum one occurrence of A1 must be present)	Mandatory in one occurrence of subseq. A1, and not allowed in all other occurrences of subseq. A1
  NEWM	Optional	Not Applicable

• C9. In subsequence B5a, if field :95a::PSET is present, then field :97a::SAFE is not allowed in the same subsequence .

  Subsequence B5a if field :95a::PSET is ...	Subsequence B5a then field :97a::SAFE is ...
  Present	Not allowed within the same occurrence
  Not present	Optional

MT586 Usage Rules

• The frequency of the statement must be bilaterally agreed between the account servicer and the account owner.

• The statement can be sent reflecting all outstanding holding information or may contain only changes since the latest statement sent.

• Since a SWIFT message as sent is restricted to the maximum input message length, several messages may be needed to accommodate all the information.