MT566 Corporate Action Confirmation

When MT566 is used

On the payment date, once the account servicer has received the proceeds from the issuer’s agent or the CSD and booked them, it sends an MT566 per account and per option applied. It quotes the same CORP reference as the MT564 that announced the event, the option that was applied, the confirmed balance the entitlement was calculated on, and one movement block per cash or securities posting.

For a cash distribution such as a dividend (DVCA) or interest (INTR), the cash block shows the amount posted (19B::PSTA, normally the net amount), usually with the gross amount, the tax withheld and the rates used. For a securities event (a bonus issue, BONU, a split, SPLF, or a merger, MRGR) the securities block shows the shares credited or debited; cash in lieu of fractions appears as a separate cash block.

Account owners reconcile the MT566 against the entitlement they expected from the MT564 (or the REPE pre-advice) and against the cash and custody statements (MT950 or MT940, MT535, MT536). Differences usually come from the eligible balance (trades or loans around the record date), the tax rate applied, or charges.

If a posting was wrong or the issuer’s payment does not arrive, the account servicer reverses it with an MT566 of function REVR that repeats the original movements and links to the original MT566 by its SEME in :20C::PREV//. A notice of the coming reversal can be sent before it in an MT564 with function ADDB and :22F::ADDB//REVR. After a reversal, a corrected MT566 NEWM follows if the event is repaid. See the corporate action lifecycle guide.

MT566 format: sequences and fields

Rules worth knowing

• One MT566 confirms one option on one account. An account that received both cash and securities (for example new shares plus cash for fractions) gets one MT566 with a SECMOVE block and a CASHMOVE block.
• The posting amount (19B::PSTA) is what hits the account. Gross minus tax minus charges should equal it; check this before matching against the cash statement.
• A reversal (23G REVR) repeats the details of the original confirmation and links to the original SEME with :20C::PREV//. It undoes that booking: do not book it as a new receipt.
• An MT566 can arrive without an earlier MT564, for example for a predictable coupon where the account servicer does not announce every payment. Reconciliation should then work from the CORP reference and the security.

MT566 example

On 4 November 2026 ZagTrader Test Bank (ZAGTAEADXXX) confirms to the asset manager FUNDLULLXXX the dividend announced in its MT564: 100,000 shares at EUR 0.40 gross, with 15% withholding tax, gives EUR 40,000.00 gross, EUR 6,000.00 tax and EUR 34,000.00 net credited to the fund’s euro cash account.

{1:F01ZAGTAEADAXXX0000000000}{2:I566FUNDLULLXXXXN}{4:
:16R:GENL
:20C::CORP//DV26ZAG000123
:20C::SEME//ZT566DV0000001
:23G:NEWM
:22F::CAEV//DVCA
:98C::PREP//20261104103000
:16S:GENL
:16R:USECU
:97A::SAFE//ZAG-SAFE-0001
:35B:ISIN LU00ZAGT0013
ZAG TEST INDUSTRIES SA
:93B::CONB//UNIT/100000,
:16S:USECU
:16R:CADETL
:98A::XDTE//20261027
:98A::RDTE//20261028
:22F::DIVI//FINL
:16S:CADETL
:16R:CACONF
:13A::CAON//001
:22F::CAOP//CASH
:92F::GRSS//EUR0,40
:92A::TAXR//15,
:16R:CASHMOVE
:22H::CRDB//CRED
:97A::CASH//ZAG-CASH-EUR-0001
:19B::PSTA//EUR34000,
:19B::GRSS//EUR40000,
:19B::TAXR//EUR6000,
:19B::NETT//EUR34000,
:98A::POST//20261104
:98A::VALU//20261104
:98A::PAYD//20261104
:16S:CASHMOVE
:16S:CACONF
-}

Line by line

BICs, ISIN, references and accounts are made up; the ISIN carries a valid check digit.

If this payment had to be reversed, the custodian would send an MT566 with :23G:REVR, a LINK block with :20C::PREV//ZT566DV0000001 and the same movement details.

Common errors and rejects

1. Posted amount differs from the expected entitlement

   The confirmed balance (93B::CONB) differs from the eligible balance in the MT564, usually because of trades settling around the record date, securities on loan or market claims. Reconcile the position first, then the rate.

2. Wrong withholding tax rate applied

   The custodian applied the standard rate instead of a treaty rate, often because tax documentation was missing or expired at the record date. Compare 92A::TAXR with the rate you expected and check your documentation; the difference may be recoverable through a tax reclaim.

3. Reversal booked as a new posting

   An MT566 with 23G REVR undoes an earlier confirmation. Systems that ignore 23G book it as a second payment. Match it by :20C::PREV// to the original and reverse that booking.

4. Gross, tax and net do not add up

   Gross minus tax and charges should equal the net amount and the posting amount. A gap usually means a charge (19B::CHAR) or a second tax level (WITL) that your system did not read.

5. Confirmation without a matching notification

   The MT566 carries a CORP reference you never received in an MT564, for example for a predictable coupon or an event processed by another branch. Match on security, payment date and amount, and ask the account servicer for the notification if you need the event details.

MT566 in ISO 20022

The ISO 20022 equivalent is seev.036 Corporate Action Movement Confirmation. A reversal (MT566 REVR) is a separate ISO 20022 message, seev.037 Corporate Action Movement Reversal Advice, and the preliminary advice of a payment or reversal that MT users get in an MT564 is seev.035.

As with the other corporate action messages, the MT566 stays in use on FIN next to its ISO 20022 equivalent: securities messages were not part of the November 2025 payments deadline. CSDs connected to the Eurosystem collateral management system exchange these confirmations in ISO 20022 under the SCoRE standards and offer both formats to clients.

Related messages

• MT564Corporate Action Notification
• MT565Corporate Action Instruction
• MT567Corporate Action Status and Processing Advice
• MT535Statement of Holdings
• MT950Statement Message
• seev.036Corporate Action Movement Confirmation
• seev.031Corporate Action Notification

• Announcement, entitlement, instruction, status, payment and reversal with MT564-568 and seev messages.

Codes used in MT566

• DVCA
• INTR
• REDM
• BONU
• SPLF
• MRGR

MT566 questions

What is the difference between MT564 and MT566?

The MT564 announces an event and what is expected to happen. The MT566 confirms what was actually booked to the account. Reconciliation compares the two.

Which amount in an MT566 is booked to my account?

The posting amount, :19B::PSTA//, in the CASHMOVE block. GRSS, TAXR, CHAR and NETT explain how it was reached.

How is a corporate action payment reversed?

With an MT566 whose function is :23G:REVR, linked to the original confirmation by its SEME in :20C::PREV//. In ISO 20022 the reversal is seev.037.

Do I get an MT566 for every event?

For every event that moves cash or securities on your account, one per option applied. Information-only events and events you did not take part in produce no MT566.

What is the ISO 20022 equivalent of MT566?

seev.036 Corporate Action Movement Confirmation, with seev.037 for reversals.