2.3.12 Payment Chain Building Changes

The currency correspondent derivation as first step based on Currency Correspondent rule is changed when Credit Account / Receiver is not given.

System will resolve the Instructed Agent or Receiver from Global Correspondent if a valid RMA is available and if Creditor Agent is not having a valid RMA. If not, system will check the Currency Correspondent Rule and populate the derived BIC as Receiver or Receiver of Cover if the derived BIC is a valid Currency Correspondent having RMA.

If there is no valid Currency Correspondent rule is found, then the Standard Currency Correspondent is considered as Receiver of Receiver of Cover.

Scope: Applies to SWIFT CBPRPlus Outgoing pacs.008 / pacs.009 and SWIFT MT 103 / 202 transactions.