Dear clients,

Due to forthcoming improvements and optimizations in the processing of local and cross-country payments in EUR – SEPA and TARGET2, changes will occur in the content of field 86 in your MT940 statements, as follows:

1.      Change in the symbols contained in the Transaction reference number (provided by the bank, unique for each transaction):

·       Effective 2 December 2024 – for incoming TARGET2 payments (express foreign currency payment)

·       Effective 10 December 2024 – for incoming SEPA payments

The sequence and maximum number of characters contained in the section for transaction reference in field 86 remain unchanged.

Example:

Incoming SEPA payment

AS IS:

:61:2410301030C100,00 NSCTNONREF // FT243040W4R55J29

SEPA PAYMENT

:86:965/PAYMENT NARRATIVE/FX RATE/ORDERING PARTY NAME/EXECUTION DATE/CCY/TRANSACTION AMOUNT/ FT243040W4R55J29/ORDERING BANK BIC/ORDERING PARTY IBAN/ORDERING BANK NAME

TO BE:

:61:2411071107C148,52NSCTSBD.556264194301//2024556264194301
SEPA PAYMENT

:86:965/PAYMENT NARRATIVE/FX RATE/ORDERING PARTY NAME/EXECUTION DATE/CCY/TRANSACTION AMOUNT/ 2024556264194301/ORDERING BANK BIC/ORDERING PARTY IBAN/ORDERING BANK NAME

Incoming TARGET2 (express) payment

AS IS:

:61:2409190919C100,00NTRFNONREF//FT242630ZGSWD6M5             

RECEIVED PAYM TARGET

:86:966/TRANSACTION NARRATIVE/FX RATE/ORDERING PARTY NAME/EXECUTION DATE/CCY/TRANSACTION AMOUNT/FT242630ZGSWD6M5

TO BE:

:61:2411071107C100,00NTRFT2C.878224167212//2024878224167212

RECEIVED PAYM TARGET
:86:966/TRANSACTION NARRATIVE/FX RATE/ORDERING PARTY NAME/EXECUTION DATE/CCY/TRANSACTION AMOUNT/2024878224167212

2. Change in the total number of sub-tags contained in field 86 for the cases of Outgoing TARGET (express) foreign currency payment:

Effective 2 December 2024, in cases of outgoing TARGET2 payment (transaction code 930) the sub-tag containing “RT” symbols will be removed. This will change the total number of sub-tags in field 86 and may require additional setup in your accounting / ERP software to keep processing MT940 statements after this date

Current specifications of field 86 for Outgoing TARGET2 (express) payments:

Specifications of field 86 for Outgoing TARGET2 (express) payments post 2 December: