Category 3: Foreign exchange, money markets and derivatives
MT341 Forward Rate Agreement Settlement Confirmation
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The MT341 confirms the settlement of a forward rate agreement once the settlement rate has been fixed on the fixing date. Party A and party B exchange it to agree the settlement rate, the amount due and who pays it, after the deal itself was confirmed with an MT340.
- Message type
- MT341
- Category
- 3
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT341 is used for
On the fixing date the floating rate for the FRA period is known, and the difference to the agreed rate gives one settlement amount, paid by one party to the other. The MT341 confirms that rate and amount with the settlement instructions. It can also amend or cancel an earlier settlement confirmation, and report to a trade repository.
The MT341 confirms the figures; the payment itself is made with a separate payment message.
- Sent by
- Party A of the FRA (or a party acting for it)
- Sent to
- Party B of the FRA
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 MT341 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.
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