Hot topics

Our standards priorities for 2013

• Discover our standards priorities for 2013 and visit a well-oiled factory like no other!

Preparing for next year’s release with MyStandards

As preparation is key in managing your standards releases, consult the full Standards MT release 2013 in MyStandards.

Everybody has free access to MyStandards for browsing release information, all it takes is to log in or register as a new user.

• Discover the Standards MT release 2013 in MyStandards

Continuing the standards dialogue in 2013 at the Standards Forum

Standards continue to play a pivotal role in topics high on the agenda of the financial industry.

More Standards Forums will be added in the near future.

Do you have topics you would like to discuss at upcoming Standards Forums in 2013?   Share your ideas with us via our LinkedIn community: standards forum, ask your questions on standards.forum@swift.com and follow us on Twitter: @standardsforum.

Update on Dodd Frank 1073 consumer payments

US-originated cross-border consumer payments in future will be subject to regulation Dodd Frank 1073 and will require special handling. In Standards Release 2013, it was originally proposed to recommend the use of code-word ‘CCT’ in field 26T of MT customer payment messages to identify consumer payments. However, this change was conditional on the publication by 1st February 2013 of agreed, global market practice for the processing of consumer payments in the context of Dodd-Frank 1073.

In the event, no such market practice was published, so all references to code ‘CCT’ were removed from the Standards Release Guide by publication of the Update to Standards Release Guide 2013 on 22 February 2013. However, the format for field 26T permits the use of any three alphanumeric character code (3!c), so the code ‘CCT’ may still be used but, as for any unpublished code used in SWIFT messages, its use should be governed by bilateral agreements between counterparties.

Latest news