Cross-border Payments and Reporting (CBPR+): Swift ISO 20022 Standards November 2023 - Update

02.10.2023

This announcement, originally published on 7 September 2023, has been updated to add testing window information. Changes have been highlighted.

Following Announcement C22033, Clearstream Banking¹ informs clients that, effective

20 November 2023

a number of changes related to Swift ISO 15022 and ISO 20022 standards will be implemented with the Swift Release 2023. Impacted media channels include Xact via Swift and Xact Web Portal.

The messages in scope for Clearstream Banking in November 2023 are listed in the table below:

• Clearstream can sendreporting statements in either MT or MX formats.

The enhancements include new information for:

MT Message Type	CBPR+ ISO 20022 MX equivalent
MT900, MT910	camt.054.001.08	Bank to Customer DebitCreditNotification
MT940/MT950	camt.053.001.08	Bank to Customer Report
MT942	camt.052.001.08	Bank to Customer Statement

Impact on clients

Clearstream Banking will be able to receive ISO 20022 format for currently supported standard cash messages. These messages are processed using the Multi MX format with embedded MT.

A Swift User Guide, with detailed descriptions of the messages, will be published shortly.

Background

The Cross Border Payments & Reporting Group (CBPR+) has defined how ISO 20022 will be used in Financial Institution to Financial Institution payments and reporting across the Swift network.

Swift will be fully ISO 20022 compliant by November 2025 for cross-border payments and reporting services. The ISO 20022 standard is the next generation of Swift instructions which will supersede the current MT standard on the journey towards a rich and structured language for payment data.

Testing window

Clearstream Banking will offer clients the opportunity to test the CBPR+ ISO 20022 messages in the test environment during a window opened from 22 October 2023 until 17 November 2023.

In order to participate in the simulation phase, clients are invited to contact the Connectivity Testing Team at the following email address: [email protected].

Further information

For further information, please contact the Clearstream Connectivity Helpdesk or your Relationship Manager.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.