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Settlement status codes

ICUS: Disagreement Receiving or Delivering Custodian

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ICUS points at the custodian one level above the agent in the settlement chain. Under NMAT it differs; under REJT or REPR it is not recognised.

Code
ICUS
Kind
Reason (24B)
Used with
NMAT, REJT, REPR

What ICUS means

Under :24B::NMAT//ICUS the deliverer’s or receiver’s custodian in your instruction does not agree with the counterparty’s, in markets that match on it.

Under :24B::REJT//ICUS or :24B::REPR//ICUS the custodian is unknown or invalid.

When you see it

  • On longer settlement chains, for example a global custodian behind a local sub-custodian, when one side leaves a level out.

What to do next

  • Compare :95a::DECU// or :95a::RECU// in sequence E1 with the counterparty’s settlement chain and re-instruct the wrong side.

Where it appears in MT and ISO 20022

MT (ISO 15022)

  • MT548 sequence A2a, :24B::NMAT//ICUS, :24B::REJT//ICUS or :24B::REPR//ICUS
  • The fields it refers to: :95a::DECU// and :95a::RECU// in sequence E1 of the MT540 to MT543

MX (ISO 20022)

  • sese.024 MtchgSts/Umtchd/Rsn/Cd/Cd, PrcgSts/Rjctd/Rsn/Cd/Cd or PrcgSts/Rpr/Rsn/Cd/Cd = ICUS (sese.024.001.12)