Introduction:
This course is designed to explain the ISO 20022 payment XML messages from the business point of view to treasury specialists, clarifying the use of the new pacs.009 and the related messages adjusted by the CBPR+ in treasury activities.
The interim period for the use of the new ISO 20022 Payment Messages started from 20 Mar. 2023 till Nov. 2025 where all payments will be processed using the MX pacs.008 and pacs.009 and their related messages.
This course is designed to explain the pacs.009 that will be substituting the old MT200 & MT202.
Objectives:
- Explain the shortage of MT103 in meeting the wolfsberg payment transparency requirements.
- Explain the migration and the ISO 20022 characteristics
- Explain the MX pacs.009 and its use in treasury activities.
Course Outline:
Basic knowledge
- The reason for replacing the old legacy swift payment messages by the iso 20022 XML messages
- Timeline for the migration
- Which activities will be migrating to ISO 20022
- Introduction to ISO 20022 standard
- Who put the rules of the technicalities “what to do”?
- Migration from MT to MX
- Explaining the pacs.009.001.08
- Message flow
- Structure of ISO 20022 business message (BAH)
- Pacs.009 group header elements
- Pacs.009 group Credit Transfer Transaction Information elements.
Treasury practice:
Complete exercises for the following activities:
- transfer to its account, pacs.009.001.08
- Financial institution transferpacs.009.001.08 4- notice to receive, camt.057
- Request for cancellation, camt.056
- Resolution of Investigation, camt.029