Announcement

Peru: Book-to-book cash automation at Citibank del Peru S.A.

Liquidity Solutions | Peru

Reference

Code
A22103
Service level
CBL
Last Updated
11.08.2022

Following Announcement A21096, Clearstream Banking1 would like to inform customers that its cash correspondent bank (CCB) for Peru, Citibank del Peru S.A., has developed an enhancement in its cash payment process where SWIFT MT202 messages received for pure cash book-to-book payments at Citibank will be processed on a straight-through processing (STP) basis by the custody operations system.

Effective

immediately

customers who would like to benefit from this enhancement should follow the correct SWIFT MT202 formatting to ensure full STP. This enhancement will add value to customers, increase operational efficiency and mitigate risk.

Impact on customers

To ensure the book-to-book cash requests at Citibank fall into STP, customers must continue to use the MT202 formatting provided below and adhere to its parameters.

CCB will not reject cash instructions that do not follow these cash instruction templates. However, messages not following this structured format will be processed manually.

In addition, any change, extra character or even additional information included in the cash instructions will lead to non-STP.

  • Cash accounts must have 10 digit numbers: This includes “/” and two leading zeros. Customers should take note of the example below.
  • Provided the cash account has sufficient funds, the payment will be processed systemically. Customers should verify funds availability prior to submission.

Cash instructions

The table below displays the correct method for instructing an MT202 (book-to-book) at Citibank:

:20:1220760003678F-8

Customer’s transaction reference number

:21:4051983

Related Reference – Not mandatory

:32A:220721PEN79,17

Value date, currency code, amount

:53B:/0012121212

Sender's correspondent (local cash account to be debited – 10 digits, only numbers)

:57A:CITIUS33LIM

Citibank Bank Identifier Code (BIC) – Not mandatory

:58A:/0012312301

Beneficiary cash account number (10 digits, only numbers)

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.