Category 6: Commodities and reference data
MT670 Standing Settlement Instruction Update Notification Request
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The MT670 is how an institution publishes its standing settlement instructions (SSIs) over Swift. The institution sends it to Swift, which creates an MT671 from it and forwards that to the recipients the Sender chose: named institutions, all institutions in some countries, or all institutions.
- Message type
- MT670
- Category
- 6
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT670 is used for
An SSI tells counterparties where to pay cash in a given currency: the account with institution, intermediaries and the beneficiary’s account. Counterparties use it to fill the settlement parties of FX confirmations such as the MT300 and of payments such as the MT202. The MT670 can carry SSIs for the Sender’s own account or for another party, for several currencies and market areas, each with an effective date.
The message uses the block structure of the securities messages: sequence A (GENL) with linkages and the distribution parameters, a repetitive sequence B (SSIDET) per instruction with cash parties in B1 (CSHPRTY), and optional other details. The distribution parameters stay in the MT670 and are not copied into the MT671.
- Sent by
- The institution that publishes its standing settlement instructions
- Sent to
- Swift, which turns the request into MT671 notifications
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 MT670 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 tables list none for the category 6 reference data messages, and this flow was not part of the November 2025 payments migration.
MT670 questions
- Who receives the MT670?
- Swift itself. The MT670 is a request to Swift, which builds an MT671 from it and sends that to the institutions, countries or all institutions named in the distribution parameters.
- Does an MT670 need an RMA relationship?
- No. The category 6 reference data guide says that the MT670 and MT671 are signed but need no RMA authorisation, because they are exchanged between the user and Swift.
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