OPERATING RULES FOR INTERBANK CLEARING OF PAYMENTS IN FOREIGN EXCHANGE

Transcription

1 Pursuant to Section 4, paragraph 1 of the Decision on Interbank Clearing of Payments in Foreign Exchange (''RS Official Gazette'', No. 31/2007 and 93/2007), the Governor of the National Bank of Serbia hereby issues OPERATING RULES FOR INTERBANK CLEARING OF PAYMENTS IN FOREIGN EXCHANGE General provisions 1. These operating rules shall prescribe the procedure for performing interbank clearing and settlement of foreign exchange payments between natural and legal persons clients of banks headquartered in the Republic of Serbia (hereinafter: clearing). 2. Participants in the clearing shall be: 1) the National Bank of Serbia; 2) a bank participating in the RTGS and clearing system of the National Bank of Serbia which has entered into an agreement on connection to the clearing system with the National Bank of Serbia (hereinafter: bank). 3. The National Bank of Serbia shall perform clearing pursuant to the decision on clearing and authorization under the agreement on connection to the clearing system concluded with the National Bank of Serbia (hereinafter: agreement), as a multilateral net settlement, while net clearing positions shall be settled through the foreign currency reserve requirement accounts of banks with the National Bank of Serbia (hereinafter: foreign currency reserve requirement account). Connection to the clearing system 4. In order to participate in the clearing procedure, the bank shall file with the National Bank of Serbia an application for connection to the clearing system, stamped and signed by persons authorized to represent such bank. Apart from this, the bank shall also: 1) report its BIC code (bank identification code) to be used in the clearing procedure; 2) meet technical requirements and standards for connection to the clearing system;

2 2 3) report the names of persons authorized to communicate with the National Bank of Serbia on matters relating to clearing; 4) enter into an agreement with the National Bank of Serbia; 5) deliver authorization for debiting the foreign currency reserve requirement account according to the multilateral net clearing position. Protection measures and responsibilities 5. In order to participate in the clearing procedure, the bank shall ensure security and protection measures, above all with regard to staff engaged in operations pertaining to clearing, the control of operations and processing of clearing-related data, as well as physical control of access to computer resources linked with the National Bank of Serbia for the purpose of execution of settlement in the clearing system. 6. The bank shall appoint one of its staff to be in charge of security and protection of communication in the clearing system (hereinafter: security administrator), grant to such person an authorization for the specified activities and deliver it to the National Bank of Serbia. Duties of the security administrator shall be as follows: 1) configuration and administration of hardware and software security systems for safe communication with the clearing; 2) performance of payment transactions in line with the decision on clearing and these rules; 3) submission of monthly reports on the application of safety measures and cooperation with the clearing (in written form) to the National Bank of Serbia. 7. Clearing participants shall be responsible for the authenticity, coding and contents of sent messages, timeliness of sending messages to the clearing, as well as for whether messages are sent and received by persons authorized for such activities. Limit and net position 8. Before the beginning of a clearing cycle, the National Bank of Serbia shall set a limit for net clearing position to each bank (hereinafter: limit) and earmark an appropriate amount from the bank s balances on the foreign currency reserve requirement account.

3 3 Under the terms hereof, net position of a bank at a given moment shall be deemed to mean the difference between payments received and payments executed for such bank from the beginning of clearing cycle until that particular moment. limit. The negative net position of a bank shall never exceed the approved 9. Depending on its need, the bank may request from the National Bank of Serbia a downward or upward revision of the limit. Change of the limit shall be approved if there are sufficient balances on the bank s foreign currency reserve requirement account and if the bank s present net position calls for such change. Acceptance of order in the clearing 10. Clearing participants and the clearing system shall communicate through messages, which may be submitted individually for each payment or for a group of payments. If messages are submitted for a group of payments, specification of individual payments from the group shall be enclosed in line with Schedule 2 to these Rules. A message shall be deemed valid if it meets the following requirements: 1) it has been created in the SWIFT format, in line with Schedule 2, and in the manner specified in Schedule 3 to these Rules; 2) it was sent and received in line with the Clearing Daily Time Schedule (Schedule 1 to these Rules) (hereinafter: Daily Time Schedule). The schedules referred to in this Section are integral hereto and enclosed therewith. 11. A valid message shall be processed immediately after acceptance into clearing. A message which may not be processed for whatever reason, shall be rejected by sending an appropriate message to the sender. 12. The processing of valid messages shall include: 1) control of the date of execution of payment order, 2) control of the amount specified in the payment order, 3) control of the clearing participant status of banks specified in the payment order,

4 4 4) control of the status of settlement accounts of banks specified in the clearing order. 13. A sent valid message which is found in the processing procedure to meet all requirements for participation in clearing shall be recorded in the settlement account of the bank only if the negative net position at that moment is not in excess of the approved limit. Once the message is processed, clearing shall send to the sending bank a confirmation of message acceptance and account debiting, and to the receiving bank a copy of received message and confirmation of account crediting in line with Schedule If the negative net position is in excess of the approved limit, sent valid messages which have been found in the processing procedure to meet requirements for participation in clearing and whose priority is designated by numbers from 11 to 50, shall be put on wait list, and shall be executed according to the assigned level of priority (11 being the highest and 50 the lowest) until the end of the settlement day once the balances are provided. Messages with designated priority from 51 to 99 shall be returned to the sender. Messages with the same priority shall be executed in line with the arrival schedule according to the FIFO principle. 15. In the event of sent valid messages which have been found in the processing procedure to contain payment instructions not in compliance with requirements for participation in clearing, clearing shall immediately send to the sender an appropriate message on putting received messages on wait list, and/or their rejection, in line with Schedule 2. Should any valid messages be on a wait list after the expiry of time envisaged for receiving messages, clearing shall send to the sender a message on the rejection of such messages, in line with Schedule 2. Method of payment execution in clearing 16. After the expiry of time for receiving messages specified by the Daily Time Schedule, clearing shall establish a net balance of settlement accounts of banks based on which, after the execution of settlement, multilateral net positions shall be settled in line with authorization referred to in Section 4, provision 5 hereof - by crediting and debiting the accounts of such banks with their respective positions from clearing.

5 5 Finality of settlement 17. Upon execution of settlement, clearing shall send to each bank a statement from its clearing settlement account, in line with Schedule 2. After this the settlement shall be deemed final. Claims with respect to transactions performed in clearing shall be considered only if they are received within three business days following the date of processing. Exclusion from clearing 18. The National Bank of Serbia may exclude a bank temporarily or permanently from clearing in the following cases: 1) if the bank ceases to meet any of the requirements for participation in clearing; 2) if the bank acts in non-compliance with these rules; 3) if the bank acts in non-compliance with the agreement on participation in clearing concluded with the National Bank of Serbia; 4) if the bank causes technical problems in the operation of clearing. In the event specified in paragraph 1, provision 1 hereof, the National Bank of Serbia shall permanently exclude the bank from clearing. In cases specified in paragraph 1, provisions 2, 3 and 4, hereof, the National Bank of Serbia shall warn a bank or temporarily exclude it from clearing, and if the bank continues to act in breach thereof even after several instances of temporary exclusion, the National Bank of Serbia may exclude it permanently from clearing. 19. The National Bank of Serbia shall immediately notify the bank of its decision to temporarily or permanently exclude it from clearing, and state the reasons for exclusion, potentially undertaken measures and requirements for the re-inclusion of the bank in clearing. The National Bank of Serbia may include the bank in clearing again if the bank meets the requirements set out in the decision on its exclusion.

6 6 Clearing operating hours 20. Clearing services shall be available on business days. Under the terms hereof, business days shall be deemed to mean all days except Saturdays and Sundays and holidays that have been proclaimed non-business. 21. Clearing operating hours shall be defined by the Daily Time Schedule. If necessary, the National Bank of Serbia may change clearing operating hours, of which it shall accordingly inform all banks participating in clearing. If the clearing operating hours are changed at the request of a clearing participant, and such change incurs additional costs for the National Bank of Serbia, the costs shall be charged to the clearing participant concerned. Fee for clearing services 22. The National Bank of Serbia shall charge a fee for clearing services in the amount, manner and within deadlines specified by the decision on uniform fees charged for services provided by the National Bank of Serbia. Closing provisions 23. The National Bank of Serbia may amend these rules provided it has notified the banks thereof, and at latest three business days before the effectiveness of such changes. 24. On the day of effectiveness of these Rules, the Operating Rules for Interbank Clearing of Payments in Foreign Exchange, G. No of 2 April 2007, shall cease to be valid. 25. These Rules shall enter into force on 16 November G. No. G o v e r n o r 10 November 2009 National Bank of Serbia B e l g r a d e Radovan Jelašić

7 7 Schedule 1 DAILY TIME SCHEDULE Opening 9.00 Limit setting Exchange of payment messages Clearing Cancellation of unexecuted payment messages Account statement issuing Archiving Closing 14.35

8 8 Schedule 2 Basic messages under SWIFT standard used in interbank clearing of payments in foreign exchange 1. Cashless payment order Transfer order is the basic document for the transfer of funds in the system. Elements of the transfer order are presented in the table below: Description Format Mandatory Note 1 Method of execution Х 2 Name of the order issuer - payer 3*35Х 3 Name of the payee 3*35Х 4 Account number of the payer IBAN 5 Account number of the payee IBAN 6 Currency code 3X EUR 7 Amount 12N,NN At most 12 integers, comma, at most two decimal places, only positive, the plus sign is implied 8 Purpose of payment 3*35X 9 Payment code 3N From the Code List 11 Debit authorization number 22X 13 Credit authorization number 22X 14 Place of submission 20X 15 Date of submission DD/MM/YY 16 Value date DD/MM/YY 17 Verification On paper documents, stamped if envisaged The table below presents the structure of cashless payment order in the system in electronic form. Technical fields used internally in the system are not shown. The structure may vary to some extent from one bank to another. Although these variations mostly refer to technical details, the most important thing is that there is no loss of information. Field Description Format Initial bank Bank identification code (BIC) based 8/11 characters in SWIFT identification on which the prescribed bank account number may be unequivocally ascertained Initial bank reference Unique identifier of payment order for Up to 16 characters the initial bank in the course of one settlement day Method of execution Determining whether the order being processed should be treated as 0100 not urgent

9 urgent or not Name of the payer Name and address of the payer holder of the debiting account Name of the payee Name and address of the payment beneficiary, mandatory control element in the payment process; if the beneficiary s account does not exist in the register of the bank which received the order, this element has to be entered (otherwise, contents from the register are taken over to be reconciled against the contents of the original document) Debiting account Account to be debited, IBAN (payer s account) Crediting account Account to be credited, IBAN (payee s account) Currency code 9 Code of the currency in which the payment is made, according to ISO standard Up to 105 characters (3*35) Up to 105 characters (3*35) 3 characters, EUR Amount Amount of payment to be executed Up to 14 significant digits, up to two decimal places separated by a comma, has to be positive Purpose of payment Description of the purpose of payment, free form Up to 105 characters (3*35) Payment code Payer s reference Payee s reference Value date Three-digit code of the purpose of payment as specified in the Code List, used for statistical reporting and analysis Reference transferred to the payment beneficiary and shown in its account statement Reference transferred to the payment beneficiary and shown in its account statement Date when the payment is due, i.e. when it has to be executed Three digits Up to 22 characters Up to 22 characters Any clearly recognizable date format 2. Message МТ 103 Single customer credit transfer As message МТ 103 is a standard for credit transfers for clients in SWIFT, the applicable fields of SWIFT message MT 103 are identical to those of cashless payment order. Its elements are as follows:

10 10 Field Elements of cashless payment order Mandatory Note 113 Business priority (values ), if wait lists are included, this is a priority of execution of orders put on wait list Field 113 is in a block of 3 messages, if not specified value 0099 is implied, execution with lowest priority 20 Reference number (TRN) of the initial TRN in SWIFT bank 23B Always CRED 23Е Always SDVA 26Т Under SWIFT 32А Value date, currency code (EUR) and 50К amount, date in format YYММDD In format К /IBAN of the payer name and address 53А IBAN and BIC of the bank executing payment in format /D/IBAN of the bank or /IBAN of the bank BIC 57А IBAN and BIC of the bank whose account is credited (bank with which the payee s account is held) in format /C/IBAN of the bank or /IBAN of the bank BIC 59 No option /IBAN of the payee name and address 70 The following elements are transferred: payment code, credit and debit authorization numbers. These elements are designated with prefixes separated by a hyphen from the contents: PBZ (debit authorization number) PBO (credit authorization number) TRN (reference number of connected message TRN) 71А Always SHA 72 Purpose of payment, up to 105 characters, for the purpose of payment in the first line /BNF/, in other lines //, at most 4 lines, 105 characters EUR5678,50 Payer s account is a mandatory element, slash is a part of account designation syntax; the payer s bank account number should correspond to the BIC of the bank sending the message Slashes and letter D are a part of syntax Has to correspond to the bank account number in 59, slashes and letter C are a part of syntax IBAN is mandatory, slash is a part of account designation syntax 70:SIF-111 PBZ ABC PBO-97123AFG14 REF :/BNF/UPLATA PO //FAKTURI 123AFG14, //DRUGI DEO

11 11 Payments system of the National Bank of Serbia allows the use of other fields, although their contents are not checked and do not influence the syntax of messages. 3. Message МТ 202 General financial institution transfer Message МТ 202 is used for interbank transfers from one account to another account in the RTGS, implying that MT 202 is executed only in this regime. Order for cashless payment between banks is transferred to the applicable fields of SWIFT message MT 202. Its elements are as follows: Field Elements of cashless payment order Mandatory Note 113 Business value priority ranges from 0011 to 0099; if wait lists are included, this is a priority of execution for messages put on wait list Field 113 is in a block of 3 messages; if not specified, value 0099 is implied execution with lowest priority 20 Reference number (TRN) of the initial TRN in SWIFT bank 21 Connected reference Reference (TRN) of a message to which this message refers or NONREF 32А Value date, currency code (EUR) and 53А 58А amount, date in format YYММDD IBAN and BIC of the bank executing payment in format /D/IBAN or /IBAN BIC IBAN and BIC of the bank whose account is credited (bank with which the payee s account is held) in format /C/IBAN or /IBAN BIC 72 The following elements are transferred: payment code, credit and debit authorization numbers. These elements are designated with prefixes separated by a hyphen from the contents: PBZ (debit authorization number) PBO (credit authorization number) SIF (payment code) purpose of payment in the beginning /BNF/, in the beginning of other lines //, at most 5* EUR ,50 Slashes and letter D are a part of syntax Slash and letter C are a part of syntax 72:/BNF/PBZ ABC //PBZ-97123AFG14 //SIF-133-UPLATA PO //FAKTURI 123AFG14 //DRUGI DEO The system allows the use of other fields, although they do not influence the execution of transactions. 4. Message МТ 102 Multiple customer credit transfer Message МТ 102 is used for credit transfers to clients in clearing. All payments of clients of one bank have to be sent in one message to the clients of another bank. Value

12 12 date has to be the same for all individual payments, as well as the currency code. Sum of all individual payments has to correspond to the amount specified in field 32А. The message elements are as follows: Field Elements of cashless payment order Obligatory Note 113 Business value priority ranges from 0011 to 0099; if wait lists are included, this is a priority of execution for messages put on wait list In sequence A 20 Reference number (TRN) of the initial bank Field 113 is in a block of 3 messages; if not specified, value 0099 is implied TRN in SWIFT 23 Always CREDIT 26Т Always REF 71А Always SHA In a repetitive sequence B, for each individual payment 21 Transaction reference 32B Currency code (EUR) and amount 50К /IBAN of the payer name and address of the payer 59 /IBAN of the payee Name and address of the payee 70 The following elements are transferred: payment code, credit and debit authorization numbers. These elements are designated with prefixes separated by a hyphen from the contents: SIF (payment code) PBZ (debit authorization number) PBO (credit authorization number) REF (reference number of connected message TRN) EUR5678,50 Account is mandatory, slash is a part of account designation syntax, bank account number has to correspond to BIC of the bank whose account is debited Account is mandatory, slash is a part of account designation syntax, bank account number has to correspond to BIC of the bank whose account is credited 70:SIF-133 PBZ ABC PBO-97123AFG14 REF /789ABC 77B Purpose of payment, B:UPLATA PO FAKTURI 123AFG14, DRUGI DEO In sequence C 32А Value date, currency code (EUR) and

13 13 53А 54А amount (sum of all transactions), date in format YYММDD /D/IBAN of the bank executing payment or /IBAN BIC of the bank executing payment IBAN and BIC of the bank whose settlement account is credited, account is in the first line after /C/ or /, BIC in the second line EUR55678,50 Slashes and letter D are mandatory Has to correspond to the bank account number in field 59 The system allows the use of other fields, although they do not influence the execution of transactions. 5. Message МТ 900 Confirmation of debit Message МТ 900 is used as a confirmation of account debit after the execution of transactions (202). Message elements are as follows: Field Message elements Mandatory Note 20 Reference of the initial bank TRN 21 Connected reference Reference of the message TRN to which this message refers, i.e. message whose effect is confirmed 25 IBAN Number of account debited 32А Value date, currency code (EUR) and amount, date in format YYММDD 72 MIR (Message Input Reference) unique identifier of the message which initiated the debit EUR55678,50 :72:/OID/091017NBS RRSBDA Message МТ 910 Confirmation of credit Message МТ 910 is used as a confirmation of account credit after the execution of transactions (202). Message elements are as follows: Field Message elements Obligatory Note 20 Reference of the initial bank TRN 21 Connected reference Reference of the message TRN to which this message refers, i.e. message whose effect is confirmed 25 IBAN Number of account credited

14 14 32А Value date, currency code (EUR) and amount, date in format YYММDD EUR55678,50 52А BIC of the transaction initiator Identification of the institution which initiated transaction, with a connected reference and value date it serves as a unique identifier of the message which initiated the transfer Field 56А is not used in the system. 7. Message МТ 920 Request message Message МТ 920 is used as a request for information on account balances or request for the delivery of account statement. Message elements are as follows: Field Message elements Mandatory Note 20 Reference of the initial bank TRN 12 Requested response (type of message: 941 or 942) 941 refers to account status and 942 is a temporary statement from the last 940, 941 or 950 message 25 Account number Number of account to which the message refers 34F 34F Currency code (EUR), designation C for credit (sum of debits) or D for debit (sum of credits) and amount, amount refers to the limit below which transactions are not included in the report Currency code (EUR), designation C for credit (sum of debits) or D for debit (sum of credits) and amount, amount refers to the limit below which transactions are not included in the report EURC100000, EURC100000,00 Fields 12, 25 and 34F are repeated, implying that several reports referring to more accounts, with different limits, may be requested by one message. 8. Message МТ 941 Balance report Message МТ 941 is used for sending information on account balance, as a response to request МТ 920 request for information on account balance at a given moment. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 21 Connected reference Reference of message

15 15 МТ 920 TRN, with which this message was initiated 25 Account number Number of account to which the message refers 28 Balance number/message sequence Balance number is the ordinal number of balance which is sent for the specified account from the beginning of the year. If the balance is sent in several messages, such messages are to be numbered within a sequence (from 1 onwards) 60F 90D 90C 62F Opening balance in the form (D/C), date, currency code, amount. D stands for debit positive balance, and C for credit negative balance. Number of debit transactions, currency code and amount Number of credit transactions, currency code and amount Closing balance for date in the form (D/C), date, currency code, amount. D stands for debit positive balance, and C for credit negative balance. 64 Available balances in the form (D/C), date, currency code, amount. D stands for debit positive balance, and C for credit negative balance. 9. Message МТ 942 Interim statement C030717EUR100995,01 12EUR100000,00 122EUR200000,99 C030717EUR200996, C030717EUR200996, Message МТ 942 represents an interim statement relative to a previously taken balance or statement. This message is sent as a response to request МТ 920. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 21 Connected reference Reference of message МТ 920 TRN, which initiated the message 25 Account number Number of account to which the message refers 28C Balance number/message sequence Balance number is the ordinal number of balance which is sent for the specified account from the beginning of the year. If the balance is sent in

16 34F 34F 13D 16 Currency code (EUR), letter C for credit or D for debit and amount; the amount refers to the limit below which transactions are not included in the report Currency code (EUR), letter C for credit or D for debit and amount; the amount refers to the limit below which transactions are not included in the report Date and time, in format YYММDDHHММ several messages, such messages are to be numbered within a sequence (from 1 onwards) EURC100000, EURD100000, Statement line * 1 90D Number of debit transactions, currency code and amount 12EUR100000,00 90C Number of credit transactions, currency code and amount 122EUR200000,99 Field 61 is repeated for each change in the statement. Format of field 61: value date (YYММDD), credit/debit (C, D, EC, ED), amount (up to 12 integers, up to 2 decimal places), transaction type identifier code, 1+3 characters, reference for account holder, up to 16 characters, //, reference of the institution servicing the account, up to 16 characters, additional details, up to 34 characters. 10. Message МТ 950 Statement message Message МТ 950 is an account statement. It is sent automatically at the end of the day. Message elements are as follows: Field Message elements Obligatory Note 20 Reference TRN 25 IBAN Number of account to which the message refers 28C Balance number/message sequence Balance number is the ordinal number of balance which is sent for the specified account from the beginning of the year. If the balance is sent in * 1 See: SWIFT User Handbook.

17 60F Opening balance in the form (D/C), date, currency code, amount 61 Statement line * 1 62F Closing balance in the form (D/C), date, currency code, amount 17 Field 61 is repeated for each change in the statement. Format of field 61: several messages, such messages are to be numbered within a sequence (from 1 onwards) C030717EUR100995,01 C030717EUR200996, value date (YYММDD), credit/debit (C, D, EC, ED), amount (up to 12 integers, up to 2 decimal places), transaction type identifier code, 1+3 characters, reference for account holder, up to 16 characters, //, reference of the institution servicing the account, up to 16 characters, additional details, up to 34 characters, reference of the institution servicing the account, up to 16 characters, additional details, up to 34 characters. 11. Message МТ 940 Customer statement message (with details) Message МТ 940 is an account statement. It is sent automatically at the end of the day, if the member wishes so. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 25 Account number Number of account to which the message refers 28C Balance number/message sequence Balance number is the ordinal number of balance which is sent for the specified account from the beginning of the year. If the balance is sent in several messages, such messages are to be numbered within a sequence (from 1 onwards) 60F Opening balance in the form (D/C), date, currency code, amount C030717EUR100995,01 * See: SWIFT User Handbook.

18 18 61 Statement line * 1 86 Information to the account holder, with Up to 6*35 characters К, 59 (accounts only) and 4 lines for 70, with 202 only 53А and 58А (accounts only) 62F Closing balance in the form (D/C), date, currency code, amount C030717EUR200996, Field 61 is repeated for each change in the statement. Format of field 61: value date (YYММDD), credit/debit (C, D, EC, ED), amount (up to 12 integers, up to 2 decimal places), transaction type identifier code, 1+3 characters, reference for account holder, up to 16 characters, //, reference of the institution servicing the account, up to 16 characters, additional details, up to 34 characters. 12. Message МТ x95 Message query Message МТ х95 is used as a query on the previously sent message МТ 103 or МТ 202. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 21 Connected reference TRN of the message to which the query refers 75 Queries Requests: STAT message status DUPL message duplicate PRTY priority change 77А New priority on the change of priority Mandatory for request for change of priority, not used with other requests 11S МТ Date of original message Session and sequence of the original message 79 BIC of participant who sent the message and value date To supplement the unique key * 1 See: SWIFT User Handbook.

19 19 Message MT 195 is used for messages МТ 103 and МТ 102, while message MT 295 is used for message МТ Message МТ x96 Responses to requests, queries and messages on error Message МТ х96 is sent as a response to messages МТ х92 or МТ х95, or the system response to a message with an error. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 21 Connected reference TRN of the message to which the query refers 76 Responses Responses to requests: STAT message status DUPL message duplicate PRTY priority change 77А Textual description On the occurrence of errors, and an appropriate text if the response contains a message on the error 11R МТ date of the original message To supplement the unique key If status is requested (STАТ), field 76 may contain the following responses: STAT REJT STAT CANC STAT EXEC STAT SETL STAT ERRC STAT ERRP STAT COND STAT WAIT Message has been cancelled by the МТn92 message sent by a participant. Message has been cancelled pursuant to the rules of the system, it is sent even when the system rejects a message, without any particular request. Message execution is underway. Message has been settled. An error occurred during the processing of a non-financial message, it is sent even when the NBS rejects a message on account of an error in the message, without a particular request. An error occurred during the processing of payment, it is sent even when the NBS rejects a message on account of an error in the message, without a particular request. Message is waiting for connected conditional payments. Message is on wait list.

20 STAT SUSP Message is suspended. 20 ERRC and ERRP are received even when the message was cancelled due to error, without any particular request. Message MT 196 is used for messages МТ 103 and МТ 102, while message MT 296 is used for message МТ Message МТ 985 Status enquiry Message МТ 985 is used for sending status enquiries. The response thereto is sent via message МТ 986. Message elements are as follows: Field Message elements Mandatory Note 20 Reference TRN 57А BIC of the institution with which the account is held 59 Account (IBAN) to which the enquiry refers, slash and BIC of account holder in front of the account 75 Request Requests: STAT account status 15. Message МТ 986 Status report Message МТ 986 is sent as a response to status enquiry. Field Message elements Mandatory Note 20 Reference TRN 21 Reference of the message to which the report refers 59 IBAN to which the report refers, slash and BIC of account holder in front of the account 79 Response Possible responses to STAT enquiry: Response АА DA AC DC Meaning Account is not blocked. Account is blocked for debit. Account is blocked for credit. Account is blocked.

21 21 Schedule 3 Use of Cyrillic letters in SWIFT messaging As the use of Cyrillic letters is not allowed in SWIFT messaging, such letters have to be coded/decoded into Latin characters for all fields, where deemed reasonable, according to the following table. Latin letters Č, Ć, Š, Đ, Ž and DŽ shall be coded in the same way. Cyrillic letter Latin code Cyrillic letter Latin code А A а a Б B б b В V в v Г G г g Д D д d Ђ DJ ђ dj Е E е r Ж ZZ ж zz З Z з z И I и i Ј J ј j К K к k Л L л l Љ LJ љ lj М M м m Н N н n Њ NJ њ nj О O о o П P п p Р R р r С S с s Т T т t Ћ CC ћ cc У U у u Ф F ф f Х H х h Ц C ц c Ч CH ч ch Џ DZ џ dz Ш SS ш ss