MT567 Corporate Action Status and Processing Advice

When MT567 is used

The MT567 has three jobs, set by field 23G. INST reports on an instruction: after receiving an MT565, the account servicer replies with :25D::IPRC//PACK when the instruction is valid and accepted for further processing, PEND when it is waiting for something (securities, cash, certification), or REJT with a reason when it cannot be processed. CAST reports on a cancellation request (an MT565 with function CANC) with :25D::CPRC// statuses. EVST reports on the event as a whole with :25D::EPRC//, for example that a payment is pending because the issuer has not paid.

Every MT567 carries the event’s CORP reference and a mandatory LINK block. For INST and CAST it links to the instruction being reported on with :13A::LINK//565 and :20C::RELA// followed by the SEME of that MT565, so the account owner can match status to instruction without guessing.

Reasons go in a REAS block under the status, with 24B. The qualifier of 24B repeats the status (PEND, REJT, CAND, CANP or PACK) and the code gives the reason: LACK (instructed more than the eligible balance), LATE (after the market deadline), ADEA (after the account servicer’s deadline), OPNM (unknown option number), NMTY (option number and option type do not match), DSEC (unknown security), SAFE (unknown account), EVNM (unknown event) and others. NARR means the reason is in the 70D narrative.

Two statuses come without any instruction from the holder: DFLA tells the holder that the default option was applied because it did not instruct, and STIN that a standing instruction was applied. For practical handling of rejects see MT567 instruction rejected.

MT567 format: sequences and fields

Rules worth knowing

• The status qualifier must fit the function: IPRC with INST, CPRC with CAST, EPRC with EVST.
• The 24B qualifier repeats the status it explains: :25D::IPRC//REJT is followed by :24B::REJT//<reason>, :25D::IPRC//PEND by :24B::PEND//<reason>.
• The SMPG publishes the recommended combinations of status and reason codes for MT567; account servicers follow them with local additions, so check their user guide.
• A rejected instruction is final: the account owner must send a new MT565 with a new SEME, not resend the same one. A pending status may still turn into PACK when the cause is cleared, for example when securities pending receipt arrive.

MT567 example

The asset manager FUNDLULLXXX sent a second tender instruction (SEME FUND565000002) for 45,000 shares, but the account holds only 40,000 eligible shares. ZagTrader Test Bank (ZAGTAEADXXX) rejects it with reason LACK and explains in narrative.

{1:F01ZAGTAEADAXXX0000000000}{2:I567FUNDLULLXXXXN}{4:
:16R:GENL
:20C::CORP//TE26ZAG000456
:20C::SEME//ZT567TE0000001
:23G:INST
:22F::CAEV//TEND
:98C::PREP//20261021140500
:16R:LINK
:13A::LINK//565
:20C::RELA//FUND565000002
:16S:LINK
:16R:STAT
:25D::IPRC//REJT
:16R:REAS
:24B::REJT//LACK
:70D::REAS//INSTRUCTED 45000 SHARES, ELIGIBLE
BALANCE IS 40000 SHARES
:16S:REAS
:16S:STAT
:16S:GENL
:16R:CADETL
:13A::CAON//001
:22F::CAOP//CASH
:97A::SAFE//ZAG-SAFE-0001
:35B:ISIN AEZAGT000024
:36B::STAQ//UNIT/45000,
:93B::ELIG//UNIT/40000,
:16S:CADETL
-}

Line by line

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

An accepted instruction would show :25D::IPRC//PACK and no REAS block (or :24B::PACK//NSTP if it had to be handled manually).

Common errors and rejects

1. LACK: instructed more than the eligible balance

   The account does not hold enough eligible securities, often because of a sale, a loan or another instruction. Check the balances in the MT567 or the latest MT564, then send a new MT565 for the right quantity.

   How to fix it

2. LATE or ADEA: deadline missed

   LATE means after the market deadline and usually cannot be fixed. ADEA means after the account servicer’s deadline; under PEND it is being handled on a best effort basis, under REJT it is final.

   How to fix it

3. OPNM, OPTY or NMTY: option does not match the event

   The option number is unknown, the option code is invalid, or they do not belong together. Re-read the latest MT564 replacement; options may have been changed or cancelled.

   How to fix it

4. Status cannot be matched to an instruction

   The LINK block quotes a reference your system does not know (or ULNK comes back to you). Make sure your MT565 SEME is unique and stored, and that the account servicer links with RELA to that SEME.

5. DFLA received unexpectedly

   The default option was applied because no valid instruction reached the account servicer by the deadline. Check for rejected or unsent MT565s; after the market deadline the default usually stands.

   How to fix it

6. Event pending: payment not made (NPAY)

   An EVST message with :25D::EPRC//PEND and :24B::PEND//NPAY means the issuer or its agent has not paid. Do not book the expected cash; wait for the MT566.

MT567 in ISO 20022

ISO 20022 splits the MT567 by function: INST maps to seev.034 Corporate Action Instruction Status Advice, CAST to seev.041 Corporate Action Instruction Cancellation Request Status Advice, and EVST to seev.032 Corporate Action Event Processing Status Advice. They answer seev.033 instructions and relate to events announced in seev.031.

As with the other corporate action messages, the MT567 stays in use on FIN next to its ISO 20022 equivalents; securities messages were not part of the November 2025 payments deadline.

Related messages

• MT565Corporate Action Instruction
• MT564Corporate Action Notification
• MT566Corporate Action Confirmation
• MT568Corporate Action Narrative
• seev.033Corporate Action Instruction
• seev.031Corporate Action Notification

• MT567 rejected instruction
• Announcement, entitlement, instruction, status, payment and reversal with MT564-568 and seev messages.

Codes used in MT567

• TEND
• EXRI
• DVOP
• BIDS

MT567 questions

What does an MT567 tell me?

Whether your corporate action instruction (MT565) or cancellation request was accepted, is pending, was rejected or cancelled, and why. It can also report the status of the event itself, for example a payment that is pending.

What is the difference between INST, CAST and EVST?

They are the values of field 23G. INST: status of an instruction. CAST: status of a request to cancel an instruction. EVST: status of the event, independent of any instruction.

What does DFLA mean in an MT567?

Default action: no valid instruction was received, so the default option of the event was applied. It appears as :25D::IPRC//DFLA.

My instruction was rejected with LACK. What now?

You instructed more securities than are eligible on the account. Check the eligible and uninstructed balance and send a new MT565 with a new reference before the deadline. See MT567 instruction rejected.

What is the ISO 20022 equivalent of MT567?

There are three: seev.034 for instruction status, seev.041 for cancellation request status and seev.032 for event processing status.