This article describes the major changes implied by the regulatory changes which will become effective globally on 19 November 2023.  These changes include the channels,

• SWIFT Interbank
• SWIFT Score
• DTA
• Bolero

and are generally referred to ‘SWIFT 2023’ changes.

Depending on the topics, in addition to the pure message changes, the following had
been changed, where needed. General in L/Cs
• Adding the changes formats for handling the Incoming messages Tables (SWH)
• Adjusted or created new fields in the business transactions.
• Size and character set formats adjusted.
• Errors and warnings are adjusted.
• For Pretty Prints new and amended field names had been added or
changed in the related “INI”-files.

Impacted business module

The changes for SR2023 are all in category 7, i.e. referring to LC and Guarantee messages.
There are no changes in the other categories that are used by system, such as category 1, 2, 4 or category n for Common Group Messages.

Therefore, impact of the SWIFT 2023 changes will be solely in the Guarantee module and the LC modules (Import, Export and Transfer LC) of DOKA-SaaS.

SWIFT activation setting

The SWIFT 2023 functionality can be activated via a central switch. The new functionality can be switched On / switched Off in the application, allowing to view and test the functionality before the activation date in November 2023.

To activate the SWIFT 2023 logic for all correspondence types, a configuration parameter will be available in transaction ‘Maintaining System Configuration (DBxSYS)’ on panel ‘SWIFT Release’.

For more information's refer article, Maintain System Configurations - DBISYS

 

Functional Overview of changes in LC module.

a. Shipment fields :

Length and format of fields that contain the shipment information is extended.
This refers to the place of receipt and delivery as well as the (air)port information.

Affected business modules:
• Import LC (LI),
• Export LC (LE) and
• Transfer LC (LT)

Increase the length of fields (140Z characters) to allow for more information.

Affected messages:

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
705	705		771/700
700	700	770	771/700	700	DTAEA 700 DTALCR 700
707	707	772	773/707	707
710	710	-	780/710	-	DTAEA 710
710	720	-	782/720	-	DTAEA 720

 

b. New field 78D Instructions from Intermediary Bank MT710/Transferring Bank MT720

1) New field for instructions from intermediary bank. Change should make MT 710 more clear for intermediary and advising banks.
2) New field for instructions from transferring bank, change should make MT 720 more clear for transferring and advising banks.

UI Change:

• New panel in LETOPN for “Further Bank Instructions”
• New narrative field “Instructions from Intermediary Bank” in LETOPN/LETOPR) for incoming/ outgoing instructions of MT710 (interbank (in+out) + corporate outgoing)
• New narrative field “Instructions from Transferring Bank” for incoming MT720 (interbank (inc.) + outgoing corporate) in LETOPN/ LETOPR
• New panel and field in LTTOPN for narrative field for ‘Instructions from Transferring Bank’ (outgoing interbank + corporate)
• user can set up text modules for the field

Affected messages: 

• Outgoing MT710 from LETOPN
• Outgoing MT720 LTTOPN

 

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
710	710	-	780/710	-	DTAEA 710
720	720	-	782/720	-	DTAEA 720

 

Functional Overview of changes in Guarantee module:

The below changes that was announced by SWIFT for Guarantee and Standby LC messages and their impact to the Guarantee business modules in system.

a. New field 39F replaces 39D in MT760

• New field 39F “Supplementary Information About Amount" is replacing field 39D in sequence B and C of MT 760.
• 39F, being a narrative field will allow codewords to be used (one or multiple use of codewords) such as a tolerance can be given.
• To enhance handling for Standby LC’s which were previously handled in the LC business module, system will support tolerances in the Guarantee module. Tolerances will be allowed as further specification of an additional amount. They will not be restricted to Standbys as SWIFT is also not restricting it.

 

• 

UI Change:

• Layout changes to panel “Additional Amount Panel” for Sequence B and Sequence C.
• Current narrative field to be renamed (panel, pretty print) only, otherwise reused as
  size format is identical.
• New fields for positive/ negative tolerances in Seq. B and C.Affected messages:

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
760	760	784	762<760,761>  745<760,761>	G01	G02

 

b. Network Validation Rule C11 for MT 760 updated.

 

c. Governing Law/ Jurisdiction Field 44J replaces 44H:

In the outgoing MT760, the field 44J "Governing Law/Jurisdiction" replaces the currently used field 44H. This change is applicable to sequence B and sequence C.

 

UI Change:

• For composing of Tag 44J in outgoing messages, 3 input fields are required to build
  the field Tag 44J structure.
• Existing fields in Sequence B and C will be reused where possible.
• New fields will be introduced in Sequence B and C for field Country Sub Division.

Affected messages:

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
760	760	784	762<760,761>  745<760,761>	G01	G02

 

d. Changed Field “Delivery to/ Collection by” 24G

Length and format of field “Delivery to/ Collection by” which is used in the MT760 and MT767 is changed. The change applies to sequence B and C.

 

 

MT767 Added Network Validation Rule C6 (similar to C6 of MT760)

In sequence A, if field 22A is ISCA or ICCA, then, in sequence B, fields 24E and 24G are not allowed
(Error code(s): C19).

UI Change:

• 2 new database fields for “Delivery To Address” being valid for SWIFT on for sequence
  B and sequence C. New fields are using SWIFT character set Z and will be displayed on
  panel “Presentation/ Delivery” for SWIFT on, otherwise the old field will be displayed.
• Panel layout will be adjusted to fit the new and the already existing fields by
  repositioning of fields / reducing view lines of narrative text fields.

Affected interbank messages:

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
760	760	784	762<760,761>  745<760,761>	G01	G02
767	767	763	764<767,775> 743<767,775>	G03	G04

 

e. New field Advice Through Bank in MT760 for sequence C:

A new optional field 57a “Advice Through Bank” is added to sequence C of the MT760.

 

UI Change:

• New party + address field to be added to panel “Parties” in sequence C

Affected interbank messages:

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
760	760	784	762<760,761>  745<760,761>	G01	G02

 

f. New field 23 Advising Bank’s Reference in MT767

New Field 23 “Advising Bank Reference” for Advices in MT767 Amendment.

 

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
767	767	763	764<767,775> 743<767,775>	G03	G04

New Network Validation Rule C5 :
In sequence A, if field 22A is ACNA or ADVA, then field 23 may be present, otherwise field 23 is not allowed. (Error code(s): C20).

g. Requested New Date of Expiry of Local Undertaking 31R in MT765 :

A new field 31R “Requested New Date of Expiry of Local Undertaking” is added to the Demand Message MT765. It replaces completely the existing workaround guideline in relation to the purpose codes and the usage of field 72.

UI Change:

• New date field “Requested Liability (Counter) " (NEWLIADAT) added to claim panel.
• Existing label of field "Validity Requested" (NEWEXPDAT) changed to "Requested
  Expiry".

SWIFT interbank		Score		DTA		Bolero
in	out	in	out	in	out	in	out
765	765	712 778	777<765> 779<765>	G09	G08 G10

Network Validation Rule C2:
If field 22G is PAYM, then field 31E and field 31R are not allowed. (Error code(s): C17).

 

Overview of changed fields :

 

Tag	Change Type	Interbank Message
23	New field	MT767
24G	Format & size change	MT760, MT767
31R	New field	MT765
39F	New field	MT760
39D	Removed	MT760
44A	Format & size change	MT700, MT705, MT707, MT710, MT720
44E	Format & size change	MT700, MT705, MT707, MT710, MT720
44F	Format & size change	MT700, MT705, MT707, MT710, MT720
44B	Format & size change	MT700, MT705, MT707, MT710, MT720
44H	Removed	MT760
44J	New field	MT760
57a	New field	MT760
78D	New field	MT710, MT720

 

Overview of incoming messages per transaction:

 

Transaction	SWIFT interbank	Score	DTA	Bolero
	in	in	in	in
LETNOT	705
LETOPR LETOPN LITOPR LITOPN	700	770	700
LETRAM LETAMR LETAME	707	772	707
LETOPR LETOPN	710	-	-
LETOPR LETOPN	720	-	-
GITPOP GITOPR GITOPN	760	784	G01
GITCRQ	765	712 778	G09
GITRAM GITAMR GITAME	767	763	G03

 

Overview of outgoing messages per transaction:

 

Transaction	SWIFT interbank	Score	DTA	Bolero
	out	out	out	out
LITPOP	705	771/700
LITOPN	700	771/700	DTAEA 700 DTALCR 700
LITRAM LITAME LETRAM LETAME LTTRAM LTTAME	707	773/707
LETOPN	710	780/710	DTAEA 710
LTTOPN	720	782/720	DTAEA 720
GITOPN	760	762<760,761>  745<760,761>	G02
GITCRQ	765	777<765> 779<765>	G08 G10
GITRAM GITAME	767	764<767,775> 743<767,775>	G04

 

Overview of NVR and usage rule changes

Below table provides an overview of changes that are validated within the SWIFT network (NVR) and usage rules which are not validated guidelines. 

 

Message	Message Description	NVR	Network Validation / Usage Rule
760	Issue of a Demand Guarantee/Standby Letter of Credit	C11	Field 41a (Available With) available only for Standby Letter of Credit STBY
765	Guarantee/Standby Letter of Credit Demand	C2	For demand that request Payment only, the Requested New Date of Expiry (local and counter undertaking are not allowed.
767	Amendment to a Demand Guarantee/Standby Letter of Credit	C5, C6	Advising Bank Reference is only allowed for Purpose of message “Advice..” For Purpose of message “Issuance..” the fields “Delivery To” are not allowed in sequence B.
760 760     767   785     786   787	- Issue of a Documentary Credit - Issue of a Demand Guarantee/Standby -Letter of Credit  - Amendment to a Demand Guarantee/Standby Letter of Credit - Guarantee/Standby Letter of Credit Non-Extension Notification - Guarantee/Standby Letter of Credit Demand Refusal  - Guarantee/Standby Letter of Credit Amendment Response		Usage rule for dedicated "Documentary Credit- and Guarantees-messages”  A bank receiving this message and transmitting its content any further outside of the SWIFT network must transmit the content including all its details in a way, that is clear and unambiguous to the recipient."