TARGET2 payment instructions

06.12.2013

Transferring funds to Clearstream

If the counterparty is a direct TARGET2 system participant

The counterparty must send an MT202 to the Clearstream BIC CEDELULL.

The MT202 must contain the following:

Field 103 of the User Header must contain the code "TGT"

:58A:CEDELULL (if the end beneficiary is CBL)

or

:57A:CEDELULL
:58A:/Customer account number
BIC (if the end beneficiary is a CBL customer)

Example:

USER HDR. 103:TGT
TEXT BLOCK:
:20: 123
:21: 123
:32A:131206EUR1,
:57A:CEDELULL
:58A:/12345
ABCDDEFF

If the counterparty is not a direct TARGET2 system participant

The counterparty must send an MT202 to their Cash Correspondent Bank that is a direct partipant requesting the CCB to transfer the funds using TARGET. The MT202 must contain the following:

:58A://RT (this advises that the funds must be paid via TARGET2)
CEDELULL (if the end beneficiary is CBL)

or

:57A://RT
CEDELULL
:58A:/CBL customer account number
BIC (if the end beneficiary is a CBL customer)

Example:

TEXT BLOCK:
:20: 123
:21: 123
:32A:131206EUR1,
:57A://RT
CEDELULL
:58A:/12345
ABCDDEFF

Use of BIC

The BIC TRGTXEPM should only be used by customers on their MT210 to Clearstream to advise that they have transferred the funds to Clearstream using TARGET2.

Example:

TEXT BLOCK:
:20:123
:25: 12345
:30: 131206
:21: NONREF
:32B:EUR2,
:52A:ABCDLULLXXX
:56A:TRGTXEPM