2.2.8 Currency Correspondent Maintenance

Currency correspondent maintenance (PMDCYCOR) is used in payment chain building for Cross-border payments.This is a host level maintenance. Currency, Bank BIC, and Account number can be maintained for the correspondent.

The bank should maintain the currency correspondent, that is the bank's correspondents, for SWIFT/cross border payments so that the payment can be routed appropriately. The payment chain is built using the currency correspondent maintenances.

The bank can have multiple currency correspondents for the same currency but a particular correspondent can be marked as the primary correspondent so that the payment is routed through that bank even though there are multiple correspondent banks.

To capture details of currency correspondent maintenance

Specify the User ID and Password, and login to Homepage.

1. On the homepage, type PMDCYCOR and click next arrow.
   The Currency Correspondent Detailed screen is displayed.

   Note:

   The fields which are marked in asterisk red are mandatory fields.

   Figure 2-14 Currency Correspondent Detailed

   
   

   
   Description of "Figure 2-14 Currency Correspondent Detailed"

   
   
2. Maintain the AWI or AWI’s Currency Correspondent on this screen.
3. You can enter below details in this tab. For information on fields, refer to the field description table.

   Table 2-11 Currency Correspondent Maintenance

   Field	Description
   Host Code	The system displays the host code of the selected branch of the logged in user.
   Bank Code	Select the Bank Code from the list of values displayed. Selected BIC Code is displayed in this field.
   Currency	Specify the currency. Alternatively, you can select the currency from the option list. The list displays all valid currencies maintained in the system.
   Primary Correspondent Check	Select this box if this correspondent is the primary currency correspondent. There can be only one primary currency correspondent for the combination of Account type, Currency. Account Type Select the account type. The list displays the following values: Our- Account maintained with the correspondent input in the Bank Code field. Their- Account maintained by the correspondent input in the Bank Code field with the Processing bank (Nostro account).
   Account Type	Specify the account type as Our – the Nostro of the Correspondent which is maintained in our books.
   Account Number	Specify the account number associated with the correspondent input in the Bank Code field in the specified currency. Alternatively, you can select the account number from the option list. The list displays all Nostro accounts for Account type OUR and valid normal accounts for account type THEIR. The account currency displayed in the list should be same as the currency specified.
   Primary Account	Select this check box to indicate if the account is the Primary Account. You can add multiple accounts. But only one account can be marked as Primary Account. This indicates that the account marked as Primary account is the key account for the Host Code, Bank Code, Currency combination maintained.
   MT 210 required?	Select this check box to indicate if MT 210 is required to be sent to the Currency Correspondent in the scenarios where it is auto-generated like generation of Outbound MT 200/MT 201. Only if this check box is selected, the system generates the MT210.