TARGET2 payment instructions
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