10.1.11 MT 361 Cross Currency Interest Rate Swap Confirmation

This topic describes the MT 361 Cross Currency Interest Rate Swap Confirmation.

This message is exchanged by or on behalf of the institutions or corporates, party A and party B, which have agreed to a cross currency interest rate swap covered by a BBAIRS (British Bankers' Association Interest Rate Swap), Deutscher Rahmenvertrag für Finanztermingeschäfte or an ISDA (International Swaps and Derivatives Association) Master Agreement. The message also covers deals which are not part of an ISDA, Deutscher Rahmenvertrag für Finanztermingeschäfte or BBAIRS Master. In this case, party A and party B must have another bilateral agreement in place, except under AFB (Association Française de Banques) Master (until the AFB does define the interbank confirmation for cross currency swaps, the MT 361 cannot be used to confirm such transactions).

This message may also be sent by a money broker to the two parties (party A and party B) for which the broker arranged the deal. If there are two money brokers involved in arranging a deal between party A and party B, this message is also exchanged between these money brokers. The message may be used to:

• confirm the details of a new transaction between the parties
• correct a previously sent confirmation
• cancel a previously sent confirmation

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