Category 3: Foreign exchange, money markets and derivatives
MT321 Instruction to Settle a Third Party Loan/Deposit
Written and maintained by ZagTrader. Last reviewed . How this page is sourced and checked
The MT321 is sent by a fund manager to the fund’s custodian with the trade details of a fixed term loan or deposit that the manager agreed with a third party financial institution, and an instruction to settle it. It can cover a single trade or a block trade, and is used for new contracts, rollovers and maturities.
- Message type
- MT321
- Category
- 3
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT321 is used for
It is the money market counterpart of the MT304: the manager places or takes cash with a bank that is not the custodian, and the custodian has to move the cash on the fund’s accounts on the start date and at maturity. The message can also cancel an earlier instruction (field 23G carries NEWM or CANC).
Unlike most category 3 messages, the MT321 is built with the generic field layout used in securities messages: 16R/16S blocks such as GENL, qualifiers in fields 20C, 22H, 98A and 19A, and party fields 95P/Q/R. The confirmation between the two trading parties is the MT320. Use of the MT321 requires registration in a Swift message user group (MUG).
- Sent by
- The fund manager (instructing party)
- Sent to
- The fund’s custodian
Fields
This is a catalogue entry: the field-by-field structure is not shown here because we publish structures only where we have checked them against public sources. Paste an MT321 into the parser to see each field decoded with its tag, name and value.
ISO 20022
No ISO 20022 equivalent: Swift’s MT and MX equivalence table lists none for this message. Treasury messages in category 3 were not part of the CBPR+ migration of cross-border payment instructions and remain MT messages on Swift.
All MT messages · Category 3 messages · ISO 20022 messages · Codes · Troubleshooting