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Cat7 Updates Webinars 2019 Corp 20191121 Without Backup Slides
Cat7 Updates Webinars 2019 Corp 20191121 Without Backup Slides
Enhancements Overview
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Overall Project
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The detailed implementation and documentation time line is as follows:
Q1 Q2 Q3 Q4
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
Annual
Advance Readiness Portal
2016 Deadline
Documentation My Standards
for CR
Annual LIVE
Advance
2017 Deadline
Documentation SRG
for CR
Documentation
UHB
Advance Annual Documentation
2018 Documentation Vendor Test Bed Deadline LIVE
L/Cs
2020 (VTB) for CR Test & Training
(T&T)
UHB
Vendor Test Bed Annual Documentation
2020 12 Change Requests Deadline LIVE
Guarantees / (VTB)
standby L/Cs
submitted for SR 2020 for CR Test & Training
(T&T)
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5
Training and Webinars
Worldwide webinars
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Summary – Evolution in Category 7
Large portions of free text New fields added Published advance documentation
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MT Category 7 Update: New messages
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MT Category 7 Updates
General – L/Cs and Guarantees/Standby L/Cs
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Changes for SR 2020: Guarantees and Standby Letters of Credit
Current
…
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Guarantees and Standby Letters of Credit
General overview message structure of new MT 760
MT 760 MT 761 MT 761
Sequence A
General Information Wording of
Undertaking or
Sequence B Counter-Undertaking
Undertaking Details
Requested wording
Sequence C for Local Undertaking
Local Undertaking Details Up to 7
The revised MT 760 message consists The extension message MT 761 message Up to a maximum of 7 MT 761 messages
primarily of structured fields and fields with consists primarily of a big free text block in can follow the MT 760 message
coded options (e.g. amount, parties, expiry order to specify the wording of the
details, etc.) The message has been undertaking/counter-undertaking as well
designed with three blocks: as the requested wording for the local
undertaking – if applicable
Sequence A: General information
Sequence B: indicates the details of the
undertaking or counter-undertaking
Sequence C: (optional) indicates the
details of the requested local undertaking
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Guarantees and Standby Letters of Credit
Counter and Local Scenario
Applicant Beneficiary
Issuing Bank Local Issuing Advising
Bank Bank
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Guarantees and Standby Letters of Credit
Counter-counter, counter and Local Scenario
CC Issuing Beneficiary
Counter Issuing Local Issuing Advising
Applicant Bank Bank Bank Bank
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Other Changes for SR 2020
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MT 759 in the context of guarantees
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MT 759 Ancillary Trade Structured Message
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Field 23H: Function
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MT 798 Trade Guidelines
The category 7 MTs are bank-to-bank The MT 798 Guideline specification MT 798 MIG V5 was firstly published in
messages. (currently implemented is V5) was July 2017. Updated in 2018 and 2019
upgraded to take into account the
In the corporate-to-bank space, MT 798 category 7 changes. It also includes
guidelines have been developed. The MT various enhancements.
798 is used as an envelope message, with
specific fields, or entire bank-to-bank MTs These changes will “go live” at the same
included in field 77E time than the corresponding MTs.
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New Flows Corporate-to-Bank
MT 798 Bank-to-Corporate
guarantees/standby LC
Bank Beneficiary
DEMAND ACKNOWLEDGEMENT
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MT 765 Scope MT 765 Format Specifications
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MT 785 Scope MT 785 Format Specifications
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MT 786 Scope MT 786 Format Specifications
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MT 787 Scope MT 787 Format Specifications
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Agenda
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Good usage of codes in new MT 707/708 (SR 2018)
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Thank you
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