Peru: Book-to-book cash automation at Citibank del Peru S.A. – Update
Reference
Note: This Announcement, originally published on 29 June 2023, has been updated to include information on local market structure and practices. Changes have been highlighted.
Following Announcement A22103, Clearstream Banking1 informs clients that Citibank del Peru S.A. acting as Clearstream Banking’s cash correspondent bank (CCB) for Peru (PEN), is advising effective
immediately
that MT202 and MT103 instructions for interbank cash transfers and MT202 instructions for book-to-book payments that do not follow the cash instruction templates will be rejected at CCB level and clients will need to resend instructions using the correct template.
Additionally, any change, extra character and additional information included in the cash instruction will lead to non-straight-through processing (STP) and therefore will be rejected.
Local market structure and practices
In Peru, cash accounts are registered in the name of the entity recognised as the beneficial owner of the account. An omnibus cash account concept and further credit cash transfers are not recognised. In addition, it is not possible to process cross-border payments in local currency (PEN).
Local cash transfers must be processed in favour of a final beneficiary’s cash account held at a local financial institution. The use of an intermediary for fund transfers is not possible. Interbank payments in the Peruvian market are executed through the central bank’s system LBTR (Liquidación Bruta en tiempo Real). All local cash accounts are identified through a unique CCI (Codigo de cuenta interbancaria) composed of 20 numerical digits that serves to identify the account of the beneficial owner that will receive the funds. The CCI is essential to carry out any interbank transfer and it is mandatory to include it in the LBTR system when processing an interbank payment. Hence, it must be included in all interbank cash transfer instructions sent to Citi Peru in the counterparty’s beneficiary field.
Impact on clients
Clients are required to follow the correct Swift MT202 and MT103 formatting to ensure full STP and to validate if they have any limitations to follow the instruction templates provided by Clearstream Banking’s CCB.
Interbank cash transfer instructions
MT202 template for interbank transfers
:20:1111111111111111 | Client's transaction reference number |
:21:2222222 | Related reference |
:32A:YYMMDDPEN00,00 | Value date, currency code, amount – mandatory |
:53B:/0011111111 | Sender's cash account number (local Citi cash account to be debited; must include the character “/” and 10 digits, only numbers) – mandatory |
Option 1: :57A:BIC Option 2: :57A:BANK NAME | Option 1: Beneficiary bank BIC (see below for table with BIC) Option 2: Beneficiary bank name (see below for table with bank names) |
:58A:/01100000000000000000 | Beneficiary’s CCI (must include the character “/” and 20 digits, only numbers) – mandatory Beneficiary’s name – mandatory |
:72:/FREE TEXT//99999999999 | Line 1: /BNF/Free text Line 2: Local tax ID (RUC) (must include the character “//” and 11 digits) – mandatory Note: For non-resident beneficiaries that do not have a RUC, use “//99999999999” |
MT103 template for interbank transfers
:20:1111111111111111 | Client's transaction reference number |
:21:2222222 | Related reference |
:32A:YYMMDDPEN00,00 | Value date, currency code, amount – mandatory |
:53B:/0011111111 | Sender's cash account number (local Citi cash account to be debited; must include the character “/” and 10 digits, only numbers) – mandatory |
Option 1: :57A:BIC Option 2: :57A:BANK NAME | Option 1: Beneficiary bank BIC (see below for table with BIC) Option 2: Beneficiary bank name (see below for table with bank names) |
:59:/01100000000000000000 | Beneficiary’s CCI (must include the character “/” and 20 digits, only numbers) – mandatory Beneficiary’s name – mandatory |
:72:/FREE TEXT//99999999999 | Line 1: /BNF/Free text Line 2: Local tax ID (RUC) (must include the character “//” and 11 digits) – mandatory Note: For non-resident beneficiaries that do not have a RUC, use “//99999999999” |
Local cash accounts are identified in the Peruvian financial system through an interbank account code (CCI), which is a 20-digit number that is required to make transfers between accounts held at different banks. The CCI is composed of the beneficiary’s bank code, branch code, cash account and a control number.
Interbank transfers will be processed according to the CCI provided in field :58A: for MT202 and field :59: for MT103.
If the bank name provided in field :57A: or the beneficiary’s name included in field :58A:/:59: do not match with the information of the CCI, the system will consider the CCI details as valid.
The following table lists the local BICs and bank names that must be included in field :57A: due to local anti-money laundering (AML) requirements:
Field :57A: Option 1: BIC | Field :57A: Option 2: Bank name |
CRPEPEPL | BCRP |
BCONPEPL | CONTINENTAL |
BCPLPEPL | CREDITO |
BINPPEPL | INTERBANK |
CHASPEPL | J.P. MORGAN BANCO DE INVERSION |
BSAPPEPL | SANTANDER |
BSUDPEPL | SCOTIABANK |
Book-to-book cash transfer instructions
MT202 template for book-to-book transfers
:20:1111111111111111 | Client's transaction reference number |
:21:2222222 | Related reference |
:32A:YYMMDDPEN00,00 | Value date, currency code, amount – mandatory |
:53B:/0011111111 | Sender's cash account number (local Citi cash account to be debited; must include the character “/” and 10 digits, only numbers) – mandatory Note: CCI number (20 digits) can be used instead of the 10-digit local Citi cash account. |
:57A:CITIUS33LIM | Citibank del Peru’s BIC |
:58A:/0011111111 | Beneficiary’s cash account (local Citi cash account to be credited; must include the character “/” and 10 digits, only numbers) – mandatory Note: CCI number (20 digits) can be used instead of the 10-digit local Citi cash account. |
:72:/FREE TEXT//99999999999 | Line 1: /BNF/Free text Line 2: Local tax ID (RUC) (must include the character “//” and 11 digits) – mandatory Note: For non-resident beneficiaries that do not have a RUC, use “//99999999999” |
Further information
For further information, clients 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 clients 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.