Category 3: Foreign exchange, money markets and derivatives
MT362 Interest Rate Reset/Advice of Payment
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The MT362 is exchanged by the two parties to a single or cross currency interest rate derivative, including caps, collars and floors, to advise the reset of a floating rate and the interest payment at the end of an interest period. It can also cancel or correct an earlier reset or advice.
- Message type
- MT362
- Category
- 3
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT362 is used for
The derivative itself is confirmed with an MT360 (single currency) or MT361 (cross currency swap). During its life, each floating rate fixing and each payment can be advised with an MT362, so both sides agree the rate and the amounts before the payment date. The actual payments are made with separate payment messages.
- Sent by
- Party A of the derivative (or a party acting for it)
- Sent to
- Party B of the derivative
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 MT362 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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