MT 202 COV — standards release seminar

Published on June 15, 2009
Learning channels: Classroom course  On-site training  Web class

Are you ready for the MT 202 COV? Do you want to find out how to comply with the transparency requirements in SWIFT payment messages? This comprehensive course shows you how to create the MT 202 COV Financial Institution Transfer message, a new variant of the existing MT 202 message. You will also learn about the correct format of the Ordering Customer field 50F.

Audience

This course is targeted at back-office staff from payments departments who need to learn the fundamentals about the new MT 202 COV (and MT 205 COV), and the field 50F, as well as business analysts and IT staff (developers, etc.).

Prior knowledge

It is recommended to have prior knowledge of the SWIFT payments messages. This knowledge can be acquired through the two-day classroom course or eTraining module Payments & cash management - using FIN messages.

Duration

The course duration depends on the learning channel you choose:
  • Classroom course: 1/2 day
  • On-site training: as per your requirements
  • Web class: 3,5 hours



You will learn how to:

  • Generate and interpret SWIFT MT 202 COV messages through different scenarios and practical examples
  • Generate and interpret related messages such as the MT 205 COV
  • Use the MT 202 COV according to Market Practices Guidelines
  • Correctly format the Ordering Customer Field 50F through different scenarios and practical examples
  

Course content

Various case studies and exercises illustrating market practices will guide you through the following topics:

  • Background information on Standards Release 2009
  • Transparency of originator - Field 50
    • Impacted message types
    • Format and validation
    • Scenarios
  • Transparency in cover payments - MT 202 COV
    • Impacted message types
    • Format and validation (including market practice guidelines)
    • Scenarios
  • Implementation in your SWIFT environment