10.1.7 MT 340 Forward Rate Agreement Confirmation
This topic describes the MT 340 Forward Rate Agreement Confirmation.
This message is exchanged by or on behalf of the institutions or corporates, party A and party B, who have agreed to a forward rate agreement (FRA).
The confirmed transaction is covered by an ISDA (International Swaps and Derivatives Association), Deutscher Rahmenvertrag für Finanztermingeschäfte, FRABBA (British Bankers' Association) or AFB (Association Française de Banques) Master Agreement. These agreements are either signed or under negotiation.
- a new contract between the parties
- an amendment to a previously agreed contract
- the cancellation of a confirmation
Table 10-60 Format Specifications: Mandatory Sequence A General Information
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15A | New Sequence | Empty field | M |
| 20 | Sender's Reference | 16x | M |
| 21 | Related Reference | 16x | O |
| 22A | Type of Operation | 4!c | M |
| 94A | Scope of Operation | 4!c | O |
| 22C | Common Reference | 4!a2!c4!n4!a2!c | M |
| 23D | Type of FRA | 10a | M |
| 21N | Contract Number Party A | 16x | O |
| 21B | Contract Number Party B | 16x | O |
| 82a | Party A | A or D | M |
| 87a | Party B | A or D | M |
| 77H | Type, Date, Version of the Agreement | 6a[/8!n][//4!n] | M |
| 14C | Year of Definitions | 4!n | O |
Table 10-61 Mandatory Sequence B Transaction Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15B | New Sequence | Empty field | M |
| 30T | Trade Date | 8!n | M |
| 32B | Currency, Notional Amount | 3!a15d | M |
| 30F | Effective Date | 8!n | M |
| 30P | Termination Date | 8!n | M |
| 37M | Fixed Rate | [N]12d | M |
| 14F | Floating Rate Option | 24x | M |
Table 10-62 Optional Subsequence B1 AFB and FRABBA Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 30V | Fixing Date | 8!n | M |
| 38D | Contract Period | 4n | M |
Table 10-63 Mandatory Subsequence B2 Other Details
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 38G | Designated Maturity | 2n1!a/2n1!a | M |
| 14D | Floating Rate Day Count Fraction | 7x | M |
| 17F | FRA Discounting | 1!a | M |
| 18A | Number of Repetitions | 5n | M |
| 22B | Financial Centre | 4!c | M |
Table 10-64 Mandatory Sequence C Settlement Instructions for Settlement Amount Payable by Party B
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15C | New Sequence | Empty field | M |
| 53a | Delivery Agent | A, D, or J | O |
| 86a | Intermediary 2 | A, D, or J | O |
| 56a | Intermediary | A, D, or J | O |
| 57a | Receiving Agent | A, D, or J | M |
| 58a | Beneficiary Institution | A, D, or J | O |
Table 10-65 Mandatory Sequence D Settlement Instructions for Settlement Amount Payable by Party A
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15D | New Sequence | Empty field | M |
| 53a | Delivery Agent | A, D, or J | O |
| 86a | Intermediary 2 | A, D, or J | O |
| 56a | Intermediary | A, D, or J | O |
| 57a | Receiving Agent | A, D, or J | M |
| 58a | Beneficiary Institution | A, D, or J | O |
Table 10-66 Optional Sequence E Additional Information
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15E | New Sequence | Empty field | M |
| 29A | Contact Information | 4*35x | O |
| 24D | Dealing Method | 4!c[/35x] | O |
| 88a | Broker Identification | A or D | O |
| 71F | Broker's Commission | 3!a15d | O |
| 21G | Broker's Reference | 16x | O |
| 72 | Sender to Receiver Information | 6*35x | O |
Table 10-67 Optional Sequence F Additional Amounts
| Field Tag | Field Name | Format | Mandatory/Optional |
|---|---|---|---|
| 15F | New Sequence | Empty field | M |
| 18A | Number of Repetitions | 5n | M |
| 30F | Payment Date | 8!n | M |
| 32H | Currency, Payment Amount | [N]3!a15d | M |
| 53a | Delivery Agent | A, D, or J | O |
| 86a | Intermediary 2 | A, D, or J | O |
| 56a | Intermediary | A, D, or J | O |
| 57a | Receiving Agent | A, D, or J | M |