Module 4:

ISO pacs.008.001.08

Sophie Janssen Isabelle Bouille

European Direct Markets & Product Management

SWIFT Product Management, BNY Mellon Treasury Services
BNY Mellon Asset Servicing, Brussels

December 14-15, 2020

Information Classification: Public
 1.1 Module 4 - Agenda

1.1 Welcome and Agenda for the Session

1. Introduction
1.2 Recap of previous training sessions

2.1 Scope
2. pacs.008.001.08 2.2 Flow, Structure and Elements Review – MT 103 elements equivalents
2.3 High Level Translation Principles

2 Information Classification: Public

 1.2 Past Modules

Demystifying
ISO 20022
(September 2020) Available for each Module:

SWIFT Transaction Learning Guide

Management Platform
(November 2020) Links to Webcast Recording
Training Deck
Enriched Q&A Document
RTGS Migration Plans
CBPR+ Message Flows
(October 2020)

3 Information Classification: Public

 2.1 pacs.008.001.08 – FI to FI Customer Credit Transfer
(FIN MT Equivalent: MT 103/MT 102)

Scope

The FinancialInstitutionToFinancialInstitutionCustomerCreditTransfer message is sent by the

debtor agent to the creditor agent, directly or through other agents and/or a payment clearing
and settlement system. It is used to move funds from a debtor account to a creditor.

4 Information Classification: Public

2.2 Message Flow: pacs.008.001.08 – Serial (Equivalent to the MT 103)

pain pacs camt

Corp. Y Agent A IRVTUSXX Agent C Corp. Z

1. pain.001 or else 2. pacs.008

3. pacs.008

B2C – B2B Reporting Messages as per bilateral agreements: camt.054, camt.052 and camt.053

5 Information Classification: Public

 Financial Institution Identification
2.2 Agents
BICFI Name
(0..1) (0..1)

 Debtor Agent (Field 52a)

 Creditor Agent (Field 57a)

 Previous Instructing Agent 1, 2 & 3 (/INS/ Field 72)

 Intermediary Agent 1 (Field 56a), 2, 3 (Field 72)

Structured Address
 Instructing Reimbursement Agent (Field 53a)

 Instructed Reimbursement Agent (Field 54a)

 Third Reimbursement Agent (Field 55a)

 Instructing Agent (Sender)

 Instructed Agent (Receiver)

Unstructured Address
6 Information Classification: Public
2.2 Parties Parties Identification

Name Identification
(0..1) (0..1)

 Debtor (Field 50a)

 Creditor (Field 59a)

 Utimate Debtor (New)

 Ultimate Creditor (New)

Structured Address
 Initiating Party (New)

Unstructured Address
7 Information Classification: Public
2.2 Account Structure

IBAN (1..1) or Other (1..1) – (FIN Equivalent: Subfield 1 of actors)

(New)

(New)

(New)

(New)

The Account component is not available for Ultimate Debtor, Ultimate Creditor and Initiating Party

8 Information Classification: Public

2.2 Settlement Information/Settlement Method

Settlement Information
(1..1)

(New)

CLRG (HVPS+ flow only)

COVE (CBPR+)

INDA (CBPR+)

Instructing Agent (0..1) INGA (CBPR+)

INDA: Settlement Account is maintained by the
INSTRUCTED AGENT

INGA: Settlement Account is maintained by the

INSTRUCTING AGENT

9 Information Classification: Public

2.2 Identifications

Identification Specificities

Message Identification (New) – Identifies the MX ISO 20022 message – Max 35

characters
Point to Point
Credit transfer Transaction Information Instruction Identification FIN Equivalent: (Field 20)
(0..*) Limited to 16 characters to allow smooth translation
Point to Point
End to End Identification FIN Equivalent: (Field 21 of MT 202 COV) –
Max 35 characters
End to End
Transaction Identification (New) – Conditional - Max 35 characters
End to End
UETR FIN Equivalent: (Field 121, Block 3) – Mandatory – exact
36 characters (validated)
End to End
Clearing System (New) – Reference allocated by RTGS System – Max 35
Reference characters
From RTGS to Direct Member only

10 Information Classification: Public

2.2 Payment Type Information:
Payment Type Information
(0..1)

Instruction Priority Clearing Channel

(0..1) (0..1)

OR OR OR
 HIGH  Book Transfer
 Normal  Mass Payment Net
System
 Real Time Gross
Settlement System
 Real Time Net
Settlement System

Code: Must contain an ISO Code as published in the

Service Level: (New)
External Codes, published on www.iso.org
Transports the gpi Service Agreements, eg G001
Proprietary: Contains a bilaterally or multilaterally agreed
Local Instrument: FIN Equivalent: (Field 23B)
code and must comply to the formal
Category Purpose: FIN Equivalent: (Field 23E)

11 Information Classification: Public

2.2 Amounts

Amount Elements Specificities

Interbank Settlement Amount (Field 32A) – 2 dedicated elements (CurrencyAmount & Date) in ISO 20022
Interbank Settlement Date
Instructed Amount (Field 33B)

Charge Information/Amount

Total Interbank Settlement Amount Not allowed – Single transactions only are allowed for CBPR+ and HVPS+

Various amounts in Structured

Remittance Information component

CBPR+: Amount length limited to FIN MT, i.e. Total Digits = 14

HVPS+: Global ISO 20022 amount length, i.e. Total Digits = 18

12 Information Classification: Public

2.2 Charges

Charge Bearer (1..1) – FIN Equivalent: 71A Charge Information (0..*)

CRED Borne By Creditor Amount Transaction charges to be paid by the
FIN Equivalent: (Field 71A BEN) charge bearer – FIN Equivalent 71FG/71F
DEBT Borne By Debtor Agent Agent that takes the transaction charges
FIN Equivalent: (Field 71A OUR) or to which the transaction charges are
due – No FIN Equivalent
SHAR Shared
FIN Equivalent: (Field 71A SHA)
SLEV Following Service Level
(New) – Not allowed in CBPR+ flows

13 Information Classification: Public

2.2 Instruction for Agents

HOLD Hold Cash for Creditor

CHQB Pay Creditor by Cheque
PHOB Phone Beneficiary
TELB Telecom

Must be transported Point to Point Element

up to the Creditor Agent

14 Information Classification: Public

2.2 Remittance Information

Related Remittance Information

Remittance Information
(0..1)
(0..1)
No FIN Equivalent

Unstructured Remittance Structured Remittance Information

Remittance Identification Information (0..*)
(0..1) (0..1) (New)
No FIN Equivalent FIN Equivalent: (Field 70)

Remittance Location Details

(0..2)
No FIN Equivalent

15 Information Classification: Public

 Pacs.008.001.08
Message Structure

Group Header Set of characteristics shared by all individual transactions

included in the message.
Pacs.008.001.08
Credit transfer Set of elements providing information specific to the
Transaction individual credit transfer(s).
Information Note: Limited to 1 for CBPR+ and HVPS+

16 Information Classification: Public

 Message Identification 1..1

Creation Date Time 1..1

Batch Booking 0..1

Number of Transactions 1..1

Control Sum 0..1

Total Interbank Settlement Amount 0..1

Total Interbank Settlement Date 0..1

Settlement Information 1..1 Settlement Information 1..1

Payment Type Information 0..1 Settlement Method (Slide 9) 1..1
Available under Credit
Transfer Transaction Instructing Agent 0..1 Settlement Account (Slide 8) 0..1
Information
Instructed Agent 0..1 Clearing System 0..1

Instructing Reimbursement Agent (Slide 6) 0..1

Instructing Reimbursement Agent Account (Slide 8) 0..1

Instructed Reimbursement Agent (Slide 6)

Instructed Reimbursement Agent account (Slide 8) 0..1

Third Reimbursement Agent (Slide 6) 0..1

Element removed
Third Rimbursement Agent Account (Slide 8) 0..1
17 Information Classification: Public
 Group Header

Pacs.008.001.08 2/3 Previous Instructing Agent1 (Slide 6) 0..1

Credit transfer
Transaction
Information
Previous Instructing Agent1 Account (Slide 8) 0..1

Previous Instructing Agent2 (Slide 6) 0..1

1/3
Previous Instructing Agent2 Account (Slide 8) 0..1
Payment Identication (Slide 10) 1..1
Previous Instructing Agent3 (Slide 6) 0..1
Payment Type Information (Slide 11) 0..1
Previous Instructing Agent3 Account (Slide 8) 0..1
Interbank Settlement Amount (Slide 12) 1..1
Instructing Agent (Slide 6) 1..1
Interbank Settlement Date 1..1
Instructed Agent (Slide 6) 1..1
Settlement Priority 0..1
Intermediary Agent1 (Slide 6) 0..1
Settlement Time Indication (FIN Equivalent 13C) 0..1
Intermediary Agent1 Account (Slide 8) 0..1
Settlement Time Request (FIN Equivalent 13C) 0..1
Intermediary Agent2 (Slide 6) 0..1
Acceptance Date Time 0..1
Intermediary Agent2 Account (Slide 8) 0..1
Pooling Adjustment Date 0..1
Intermediary Agent3 (Slide 6) 0..1
Instructed Amount (Slide 12) 0..1
Intermediary Agent3 Account (Slide 8) 0..1
Exchange Rate (FIN Field 36) 0..1
Ultimate Debtor (Slide 7) 0..1
Charge Bearer (Slide 13) 1..1
Initiating Party (Slide 7) 0..1
Charges Information (Slide 13) 0..*

Element Removed
18 Information Classification: Public Not covered in previous slides
 Group Header

Pacs.008.001.08 Debtor (Slide 7) 1..1

Credit transfer
Transaction
3/3
Information Debtor Account (Slide 8) 0..1

Debtor Agent (Slide 6) 1..1

Debtor Agent Account (Slide 8) 0..1

Creditor Agent (Slide 6) 1..1

Creditor Agent Account (Slide 8) 0..1

Creditor (Slide 7) 1..1

Creditor Account (Slide 8) 0..1

Ultimate Creditor (Slide 7) 0.1

Instruction For Creditor Agent (Slide 14) 0..2

Instruction for Next Agent (Slide 14) 0..4

Purpose (FIN Equivalent 26T) 0..1

Regulatory Reporting (FIN Equivalent 77B) 0..10

Element Removed
Tax 0..1 Not covered in previous slides
Related Remittance Information (Slide 15) 0..1

Remittance Information (Slide 15) 0..1

19 Information Classification: Public

Example: pacs.008.001.0X
Credit Transfer
Transaction Information

Group Header

20 Information Classification: Public

 2.3 High Level Translation Principles
Example: Translation from Debtor to FIN MT field 50A – AnyBIC and IBAN present in the pacs.008.001.0X

21 Information Classification: Public

 2.3 High Level Translation Principles
Example: Translation from Debtor to FIN MT field 50F – Name and Structured Address

+ sign indicates that the

data has been truncated

22 Information Classification: Public

 2.3 High Level Translation Principles
Example: Translation from Debtor to FIN MT field 50K – Name and Unstructured Address

+ sign indicates that the

data has been truncated

23 Information Classification: Public

 Next Session - Save the Date

Monday, January 24, 2021

08:00 a.m. ET/14:00 CET

Tuesday, January 25, 2021

10:00 a.m. HKT

Module 5:
Deep Dive: pacs.009Core, pacs.009COV and pacs.009ADV
 Scope
 Message Structure, Content and FIN MT element equivalents (pacs.009)

24 Information Classification: Public

 Disclosures & Disclaimers

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Corporation as a whole or its various subsidiaries generally and may include The Bank of New York Mellon 240 Greenwich Street, New
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through its branch at One Canada Square, London E14 5AL, England. BNY Mellon has various subsidiaries, affiliates, branches and
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information contained in this presentation is for use by wholesale clients only and is not to be relied upon by retail clients. Not all products
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© 2020 The Bank of New York Mellon Corporation. All rights reserved. December 2020

25 Information Classification: Public

26 Information Classification: Public