SWIFT Standard Release 2024
This document contains the description of the changes implemented on the product for Standard MT and MX Release 2024 with the timeline associated.
Standard Release 2024 Scope
Index of Level Impact
| Level | MT Description | MX Description |
| 0 | This is a minor change that does not impact the format of the message. For example, the scope of the message is updates, which may have an impact on some automated applications. | This is a minor change that does not impact the structure of the message but it may have an impact on some automated applications, for example, the scope of the message is updated. |
| 1 | This change relates to the use of the message format but does not affect the message structure or the FIN validation, for example, a definition or a usage rule is changed. | This change relates to the use of the message syntax but does not affect the message structure or the message validation, for example, a definition or a usage rule is changed. |
| 1+ | An existing message type is removed from the network. | An existing message is removed from the service. |
| 2- | The change has a small effect on the message structure and the FIN validation, for example, field formats, qualifiers, or codes are added or deleted. | The change has a small effect on the message syntax and the message validation, for example, simple data types are changed. |
| 2+ | The message layout or the FIN validation or both are significantly impacted, for example, fields or sequences (mandatory or optional) are added or deleted. | The message syntax or the message validation or both are significantly impacted, for example, an element or a message component or a message building block is added or deleted, or a validation rule is changed or added. |
| 3- | A new message type is created for use in a Message User Group (MUG) or the use of an existing message type is changed from use in a MUG to general use, that is, all users must be able to receive and process the new message. | A new message is added to the service. |
| 3 | A new message type is created for general use, that is, all users must be able to receive and process the new message. |
MT Release impact
The 2024 Standard MT release impacts for IPC Wire Services the following list of messages:
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MT300
MT Release Change Requests
| Message Types (MT) | Short description of the modification | IPC Wire Services Impact |
| MT 300 |
CR 001929 Underlying (Unique) Product Identifier improvement Fields 22U and 22Z renamed to Unique Product Identifier and extended to 12 characters to accommodate identifiers in line with the ISO 4914 standard.
This change is mandatory, whilst users may not plan to send either the field or field values in line with the ISO 4914 standard, they should be prepared to receive them. Users may wish to engage their counterparties to assess the likelihood of the new format being used. |
No impact on payment processing. Only the validations of the Inbound and Outbound formats are impacted. |
MX Release impact
The 2024 Standard MX release impacts for IPC Wire Services the following list of messages:
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camt.105/106/109
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Pacs.008/009/004
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CBPR+ future changes
MX Release new message types
| Message Type | Name | MT Equivalent | IPC Wire Services Impact |
| camt.105.001.02 | Charges Payment Notification | MT 190/MT 290 | New formats available for CBPR+ transformation. To use these formats please contact the IBM Payments Center before 09 Sep 2024. |
| camt.105.001.02 | Charges Payment Notification Multiple Charges | MT 190/MT 290 | |
| camt.106.001.02 | Charges Payment Request | MT 191/MT 291 | |
| camt.106.001.02 | Charges Payment Request Multiple Charges | MT 191/MT 291 |
MX New version of existing types
| Message Type | Name | MT Equivalent | Short description of the modification | IPC Wire Services Impact |
|
pacs.008.001.12 pacs.009.001.11 |
FIToFICustomerCreditTransfer FinancialInstitutionCreditTransfer |
MT 102/103 MT 200/201/202/203/205 |
Transaction Manager Business processing rules for pacs.008 and pacs.009 will be updated in line with community feedback. | To use these formats please contact the IBM Payments Center before 09 Sep 2024. |
| pacs.004.001.13 | PaymentReturn | MT 103/205 RETN | Functionality for Transaction Manager processing of rejects and returns is under consideration for November 2024. Precise details are still subject to community discussion. |
Future changes - SR 2025
| Message Type | Short description of the modification |
| All CBPR+ usage guidelines |
CR 0942 Introduction of a hybrid (semi-structured) postal address option across CBPR+ usage guidelines for all parties and agents. The hybrid address will allow simultaneous usage of the unstructured AddressLine element and structured elements within PostalAddress. TownName and Country are mandatory elements within the PostalAddress when a hybrid address is used, just as they are when a fully structured address is used. Until November 2025 (SR2023, SR2024) a fully unstructured address or fully structured address are allowed, except for ultimate debtor, ultimate creditor and initiating party where only fully structured address is allowed. During November 2025 - November 2026 (SR2025) a fully unstructured address or fully structured address or hybrid address are allowed, except for ultimate debtor, ultimate creditor and initiating party where only fully structured address or hybrid address is allowed. The unstructured AddressLine element within the hybrid address can be up to 2 lines of 70 characters (2*70). Statements (camt.052, camt.053) and debit/credit notifications (camt.054) will be updated to accommodate all address options but will not restrict usage of the three options at any stage. Other address formats will also be permitted on statements and debit/credit notifications. This change is mandatory for all users of CBPR+ usage guidelines. |
|
CR 0942 Introduction of a hybrid (semi-structured) postal address option across CBPR+ usage guidelines for all parties and agents. The hybrid address will allow simultaneous usage of the unstructured AddressLine element and structured elements within PostalAddress. TownName and Country are mandatory elements within the PostalAddress when a hybrid address is used, just as they are when a fully structured address is used. From November 2026 onwards (SR2026…) a fully structured address or hybrid address are allowed. The fully unstructured address is no longer permitted. The unstructured AddressLine data within the hybrid address can be up to 2 lines of 70 characters (2*70). This change is mandatory for all users of CBPR+ usage guidelines. |
Standard Release 2024 Timeline
Implementation
The Product implementation for the Standard MT and MX changes is scheduled from June to September 2024.
IPC Wire Services Client Testing in UAT
Starting on 09 Sep 2024:
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The Standard MT Release 2024 will be activated. All MT messages processed in that environment will follow the new format validations.
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The new format introduced for the Standard MX Release 2024 will be available on Client Request.
Client tests need to be completed before 11 Nov 2024.
Production Go Live
The Production Go Live is scheduled for 16 Nov 2024.
For any questions or if you require any assistance, please don’t hesitate to contact the IBM Payments Center.