Category 9: Cash management and customer status
MT971 Netting Balance Report
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The MT971 is a netting balance report. A netting system sends it, on request or at agreed times, to a subscriber or another authorised receiver, giving the netting balance of one or more financial institutions at the time it is sent.
- Message type
- MT971
- Category
- 9
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT971 is used for
Each repetition names a netting position (field 25) and its balance (field 62F). A subscriber can ask for the report with an MT973.
- Sent by
- A netting system
- Sent to
- A subscriber or other authorised receiver
MT971 format: sequences and fields
Message headerMandatory
| Tag | Name | Status | Format | Meaning |
|---|---|---|---|---|
| 20 | Transaction Reference Number | M | 16x | The sender’s reference for the report. |
Balance detailsMandatory, repeatable
Repeats once per netting position.
| Tag | Name | Status | Format | Meaning |
|---|---|---|---|---|
| 25 | Account Identification | M | 35x | The netting position reported. |
| 62F | Final Closing Balance | M | 1!a6!n3!a15d | Netting balance at the time of the report: D or C, date, currency and amount. |
Format notation: n digits, a upper-case letters, c upper-case letters and digits, x any character of the Swift character set, d a decimal number with a comma, ! fixed length, [ ] optional, 4*35x up to 4 lines of 35 characters. M mandatory, O optional, C conditional (a rule decides).
ISO 20022
There is no direct ISO 20022 equivalent in general use for the netting balance report.
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