The Wolfsberg Group 2016 - PDF document

1 © The Wolfsberg Group 2016 SWIFT Relat
© The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 1 Wolfsberg Guidance on SW I F T R e l a t i o n s h ip M a n a g e me n t A pp l i ca t i o n (RMA) D u e D i l i g en c e Background The Wolfsberg Group of Inter national Financial Institutions 1 has prepared this guidance document on SWIFT Relationship Management Application (“RMA”) to supplement the Wolfsberg Correspondent Bank Principles issued in 2014 . This document is intended to provide broader guidance for managing non - customer RMAs beyond the correspondent banking arena. The RMA is a messaging capability enabling members of the SWIFT network to exchange messages over the network. The use of RMA is mandatory for sending and receiving SWIFT messages with the exception of the messages listed in Appendix A , which require no prior authorisation . RMA can be unrestricted or , through granular authorisations , be limited to specific incoming message types . For the purpose of this guidance document , this latter option will be referred to as RMA Plus. It is also noted that the terms “bank” and “financial institution” are used interchangeably throughout this document. SWIF T ’ s RMA functionality r e plac e d the fo r me r B i lat e ral K e y E xcha n ge (BKE) a n d is u se d to authorise co m m unications b e t w ee n m em b e rs o f the SWIFT n e t w or k. More details about RMA can be found in Appendix B . A tradit i onal cu s to me r or cl i e nt (h e r e af t e r “ cu s to m e r” ) r e latio n s hip which in v olv e s cross border tran s a c tional or lia b il i ty a cco u nts requires a n RM A . RM A s a re a l s o e s tablish e d with third p arties (i. e . n o n - cu s to m e r s ) to facilita t e t r a n s actio n s for e x i s ti n g cu s to m e r s ; t hes e RM A s may b e r e f e rr e d to a s n o n - c u s to m e r RMAs . The possible use of an RMA arrangement for purposes not intended , or agreed to , at the time of establishment is predominantly an operational risk, not a M oney L aundering risk. RMA arrangements, if poorly controlled, may , however, allow financial service s firms with inadequate A nti M oney L aundering 1 The Wolfsberg Group consists of the following financial institutions: Banco Santander, Bank of America, Bank of Tokyo Mitsubishi - UFJ Ltd, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Société Générale, Standard Ch artered and UBS. This guidance document has also benefited from the contributions of S.W.I.F.T SCRL for which the Wolfsberg Group members are grateful . © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 2 (AML) systems and controls, and customers of those firms, direct access to international banking systems. For example, through the exchange of an RMA authorisation with a non - customer, a bank may receive , and act upon , direct payment instructions from a non - cu stomer . T his guidance outli

2 nes minimum due diligence standards
nes minimum due diligence standards required for non - customer RMAs t o help mitigate the impact of possible misuse of an RMA . It is also noted that SWIFT requires and validates membership documentation on all prospective member institutions. Please r e f e r to A pp e nd i c e s C a n d D f o r i n f o r mati o n o n t he t y p e s o f e nti t i e s which a r e m e mb e r s of , o r use , t he SW I F T N e t w o r k , as well as the t y p e s o f m e ssa g e s that are available . 1. Pr i nc i p l es Financial I n s titutions (FIs) should i ncor p orate RMA due d il i g e n c e standards i n to th e ir Fina n ci a l Cri m e /AM L /KYC program me s where t h e f ollo w ing co n c e pts or principl e s should b e c on s id e r e d:  d ue to the potential ri s ks t h at may b e a ss ocia t e d with the establishment of a n RM A , a p pro v al of such r e qu e s t s n ee d s to b e a p propriat e ly contr o ll e d  RMA requ e s ts m ay be segr e g at e d b e tw e e n cu s to m e r relationships a n d n o n - cu s to m e r RMA s , w i th di s ti n ct due dil i g e nce c r iter i a f or e ach  w h e re a n RMA hold e r has a c u s to me r r e latio n s hip su b je c t t o d ue d il i g e nc e , t h e r e quir em e nts u nd e r t h at d ue dil i g e nce p rogr a m me wi l l apply  d ue d il i g e n c e on the RMA ho l d e r s hould con s id e r t h e m e s s age typ e s us e d b y the RMA hold e r a n d the ri s k as s ocia t e d with the a cti v ity conducted  RMA Plus offers c e rt a in capa b il i ties to li m it t h e typ e s of SW I FT m e ss a g e s e xcha n g e d a nd may facilita t e the d e ter m ination of due d il i g e n c e r e quir e me nt s  C ha n ge in RMA u s a g e f r o m a n o n - cu s to m e r to a cu s to m e r r e l atio n s hip s hould b e i d e ntif i e d on a ti me ly bas i s a n d any a d ditional due d il i g e nce required for the customer relationship c oll e cted , as per usual customer due diligence standards 2. D ef i n i tion o f a no n - customer re l atio n sh i p A no n - cu s to m e r RMA i s ge n e r ally creat e d wh e n t h e r e is a r e qu es t t h at the b a n k se nds or r e c e i v e s SW I FT m e ss a g e s to/ f rom a third p arty (i.e. t h e n o n - cu s to me r ) in su p port of a c u s t o me r ’ s b u s in e s s a n d wh e r e the b a n k has no ot h e r r e latio n s hip with that third p art y . T his can i n clu d e b oth tran s actio n al a n d no n - tr a n s actio n al m e ss a g e s. S uch arrangement s are sometimes referred to as “ n etwork b anks , ” which facilitate the continuing ability to meet customer global trading expectations and requirements . Network b anks are non - customer banks and have no accounts, facilities or dedicated Relationship Manager. They are sponsored by a

3 global line of business and interactions
global line of business and interactions are limited to document exchanges and restricted SWIFT RMA message interactions. The settlement of any transaction is decoupled from the document exchange and always made via a customer b ank. S ome e xa m p l e s of w h e r e non - customer RMA s m ay b e e s tabli s h e d to fac i litate activity for existing customers i n clu d e , b ut are not be li m ited to:  Ca s h ma n ag em e nt : r e c e ipt of b alance a nd tran s action i n f or m ation o n a cor p orate cu s to me r’s a c co u nt at a n ot h e r ba n k , s o that t he cor p orate customer can v i e w act i v ity through its ba n k ’ s r e porti n g tool  Ca s h ma n ag em e nt : r e la y ing pa y me nt in s tr u ctions fr o m a c or p orate cu s to m e r to th e ir third p arty b a n k © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 3  Cu s tody : pro v i s ion of i n f or m ation from a sub c u s todian b a n k to the global cu s todian a t t he r e qu es t of the cl ie nt  T rade Fina n ce ( e .g., let t e rs o f credit) : e xcha n ge of m e ss a g e s with b a n ks t h at d o n ot ot h e r w i s e h a v e d i r e ct pa y me nt r e latio n s hip s  Excha n ge of m es s ag e s with p a y me nts a nd s e curit i e s mar ke ts i n f ra s tr u cture e ntiti e s , e.g., e xcha n g e s , d e po s itori e s It is noted that t he d e f inition of a c u s to m e r m ay v ary a ccor d ing to a ppli c a b le local la w s a nd r e gulatio n s , which may also have an impact on the d es ign a tion of no n - cu s t o me r RMAs . For e xa m p l e , in certain juri s dictio n s , t h e e s t a bli s h me nt of a n RMA w ith a ba n k is con s id e r e d a form o f customer relationship and therefore s ubje c t to ri s k - b a se d d ue d il i g e n c e . It is import a nt f or FIs to as s e s s a nd u nd e r s tand a n y local r e quir eme n t s that may a pply in t he juri s dictio n s in which t h e y op e rate and be guided by th ose requirements. 3. M i n i mum Due D i l ig ence Procedures for n o n - customer RM A s T he min i m um recommended i d e nt i f ication a nd d ue d il i g e nce r e quir e me n t s a re a s f ollo w s :  c oll e ct name and address i n f or m a t io n  c onduct s a n ctions s c r ee ning a gai n s t r e l e v a n t Sa n ctions li s t( s ) , as a ppropriat e  c onduct a review against i nternal “r e d flag” l i s t s. In th is c o nt ex t “red flag lists” r e f e r t o l ists t h at FIs may ma i n t a i n to m a na g e o r m o n i t o r t r a ns a cti o ns/ r el ati o ns h i p s w ith pa r t i c u l ar e n t i t i e s . These are ge n e r a l ly bas e d o n a v a r i e ty o f f act o r s i nc lud in g , b ut n o t l imit e d t o , p r i o r unusual t r an s a c ti o n h i

4 st o r y a n d n e g ati v e m e d
st o r y a n d n e g ati v e m e d i a reports  e v al u ate ri s k s of the p otential RMA bas e d on the a bo v e i n f o r m ation to i d e ntify whether an FI may r e q u ire f urt h e r r e v i e w b as e d on i n te r nal ri s k tol e ranc e 4. Suggested Procedures for Ongoing Management of RMAs T he p otential ri s k s as s ociated w ith the e s tabl i s h m e nt of a n o n - cu s to me r R MA n ee d to b e ma n aged t h roughout t h e li f e cycle of th at RMA. B e low a r e sug g e s ted procedures f or m a n agi n g t h e p otential ri s ks a ss o ciated w i th n o n - cu s to me r R MAs , as well as the tran s actio n s the FI undertakes wi t h such entiti e s :  c onduct p e rio d ic r e v i e w s of m e ss a g e v ol u m e s s e nt to / r e c e iv e d f rom n o n - c u s to m e r R M As to d e te r m ine if v olu m e s an d/or m e s s age typ e s warrant additional due diligence due to significant changes in usage or cancellation due to non - usage c onduct sanctions and internal “ red flag ” screening periodically in accordance with internal screening standards. Periodic screening should be done against names added since the previous periodic review  i f an FI has not historically screened RMAs against sanctions and “ red flag ” lists, a review of the existing file s should be conducted within a reasonable time period. © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 4 Appendix A: List of SWIFT messages which do not require an RMA authorisation MT 300 Foreign exchange confirmation: Confirms information agreed to in the buying/selling of two currencies MT 303 Forex/currency option allocation instruction: Instructs the allocation of a block trade (forex or currency option) MT 305 Foreign currency option confirmation: Confirms information agreed to in the buying and selling of vanilla options on currencies MT 306 Foreign currency option confirmation: Confirms information agreed to in the buying and selling of exotic options on currencies MT 320 Fixed loan/deposit confirmation: Confirms the terms of a contract relative to a fixed loan/deposit transaction MT 330 Ca ll/notice loan/deposit confirmation: Confirms the terms of a contract relative to a call/notice loan/deposit transaction MT 340 Forward rate agreement confirmation: Confirms the details of a forward rate agreement MT 341 Forward rate agreement settlement confirmation: Confirms the settlement details of a forward rate agreement MT 350 Advice of loan/deposit interest payment: Advises of a loan/deposit interest payment MT 360 Single currency interest rate derivative confirmation: Confirms the details of a single currency interest rate derivative swap, cap, collar or floor MT 361 Cross currency interest rate swap confirmation: Confirms the details of a cross currency interest rate swap transaction MT 362 Interest rate reset/advice of payment: Confirms or advises the reset rates of the floating interest rate(s) in a single or cross - currency interest rate deriva

5 tive transaction and/or the payment of i
tive transaction and/or the payment of interest at the end of an interest period MT 364 Single currency interest rate derivative termination/re - coup oning confirmation: Confirms the details of the partial or full termination or re - couponing of a cross currency interest rate swap MT 365 Cross Currency Interest Rate Swap Termination/Recouponing Confirmation: Confirms the details of the partial or full t ermination or recouponing of a cross currency interest rate swap. MT 370 Netting position advice: Advises the netting position of a currency MT 390 Advice of charges, interest and other adjustments: Advises an account owner of charges interest or other a djustments MT 391 Request for payment of charges, interest and other expenses: Requests payment of charges, interest or other expenses MT 392 Request for cancellation: Requests the receiver to consider cancellation of the message identified in the reques t MT 395 Queries: Requests information relating to a previous message or amendment to a previous message MT 396 Answers: Responds to an MT 395 Queries or an MT 392 Request for cancellation or other message where no specific message type has been provided for a response MT 398 Proprietary message: Contains formats defined and agreed to between users and for those messages not yet live MT 399 Free format message: Contains information for which no other message type has been defined MT 600 Commodi ty trade confirmation: Confirms the details of a commodity trade and its settlement MT 601 Commodity option confirmation: Confirms the details of a commodity option contract MT 605 Commodity notice to receiver: Notifies the receiver of an impending book - entry transfer or physical delivery of a specified type and quantity of commodity MT 606 Commodity debit advice: Advises the receiver of a debit entry to a specified commodity account MT 607 Commodity credit advice: Advises the receiver of a credit entry to a specified commodity account MT 608 Statement of a commodity account: Provides the details of all bookings to a commodity account MT 609 Statement of commodity contracts: Identifies all outstanding commodity contracts, as at a specified date for whi ch confirmations have been exchanged MT 620 Commodity fixed loan/deposit confirmation: Confirms a commodity fixed term loan/deposit contract MT 670 Standing settlement instruction update notification request: Requests SWIFT to create the MT 671 from the MT 670 and send it financial institutions MT 671 Standing settlement instruction update notification: Specifies standing settlement instructions for one or more currencies MT 900 Confirmation of debit: Advises an account owner of a debit to its account MT 910 Confirmation of credit: Advises an account owner of a credit to its account MT 920 Request message: Requests the account servicing institution to send an MT 940, 941, 942 or 950 © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 5 MT 935 Rate change advice: Advises the receiver of general rate change(s) and or rate change(s) which applies to a specific account other than a call/notice loan/deposit account MT 940 Customer statement message: Provides balance and transaction details of an account to

6 a financial institution on behalf of t
a financial institution on behalf of the account owner MT 941 Balance report: Provides balance information of an account to a financial institution on behalf of the account owner MT 942 Interim Transaction Report: Provides balance and transaction details of an account, for a specified period of time, to a financial institution on behalf of the account owner. MT 950 Statement message: Provides balance and transaction details of an account to the account owner MT 970 Netting statement: Provides balance and transaction details of a netting position as r ecorded by a netting system MT 971 Netting balance report: Provides balance information for specified netting position(s) MT 972 Netting interim statement: Advises interim balance and transaction details of a netting position as recorded by a netting system MT 973 Netting request message: Requests an MT 971 or 972 containing the latest available information MT 985 Status enquiry: Requests an MT 986 MT 986 Status report: Provides business - related information about a customer or institution MT 990 Advice of charges, interest and other adjustments: Advises an account owner of charges, interest or other adjustments to its account MT 991 Request for payment of charges, interest and other expenses: Requests payment of charges, interest or other expense s MT 992 Request for cancellation: Requests the receiver to consider cancellation of the message identified in the request MT 995 Queries: Requests information relating to a previous message or amendment to a previous message MT 996 Answers: Responds to an MT 995 Queries or an MT 992 Request for cancellation or other message where no specific message type has been provided for a response MT 998 Proprietary message: Contains formats defined and agreed to between users and for those messages not yet live MT 999 Free format message: Contains information for which no other message type has been defined © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 6 Appendix B – RMA overview RMA The R MA is a messaging capability that enables members of the SWIFT network to exchange messages over the network. The use of RMA is mandatory for sending and receiving any SWIFT message which is not listed in Appendix A. RMA exists in two forms : it can be unr estricted, which means a user authorises a counterpart to send any message type beyond the list in Appendix A . This is the default and most common usage of RMA. It can also be restricted , which means a user can define exactly which message types , beyond the list in Appendix A , a counterpart can send them. This capability is delivered to users via an optional product called SWIFT RMA Plus. Users of non - SWIFT provided interfaces should find out from their interface provider how this functionality can be made available to them. Traffic is blocked at the sender level RMA blocks unwanted traffic at the sender level, which means that message traffic from a specific counterpart will only be sent if an appropriate authorisation is found. RMA authorisations need not be symmetrical Each user can set the bar for authorised traffic independently of the count

7 erpart. This means that a user of
erpart. This means that a user of RMA Plus (or equivalent) may choose to be more restrictive with a counterpart , without that counterpar t needing to be a user of RMA Plus (or equivalent). Upgrading from RMA to RMA Plus (or equivalent) If a user has an RMA authorisation in place and wishes to be more restrictive with certain counterparts, that user only needs to send an RMA Plus authorisa tion (or equivalent) to that particular counterpart and it will override the existing RMA authorisation in place. There is no need to cancel the existing RMA. However, it is noted that t his new authorisation needs to be accepted by the counterpart to be ef fective. A n automated tool to convert RMA arrangements to RMA Plus is not in place, and conversion cost and effort may be significant . Revocation of an RMA If an authorisation is no longer required, then it should be revoked using an RMA revocation message. Today this revocation needs to be accepted by the counterpart to be effective. During the second quarter of 2016, SWIFT will implement a central revocati on check which will block traffic from a counterpart within a maximum of 15 minutes of the acknowledgement of the revocation message on the SWIFT network . The requirement to accept the incoming revocation is unchanged to ensure that local RMA databases reflect the correct status and to limit the cost of rejected traffic. © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 7 A ppend i x C – Cate g or i es o f S W I FT P artic i pants Entiti e s that u s e SWI F T a re g r oup e d i n to thr e e main categ o ri e s :  Sup e r v i se d Fina n cial In s tituti o ns (FIs)  No n - Sup e r v i se d E n titi e s a cti v e in the fina n cial i n du s try  C l o s e d U s e r G roups a nd c or p orate entiti e s A Sup e r v i se d Financial In s tit u tion is an e ntity t h at e ngag e s in pa y me nt, se curiti e s , ba n ki n g, f ina n cial, in s urance or in v e s t m e nt se r v i c e s or acti v i t i es , which is s up e r v i se d by a Financial Mark e t R e gulator. T he cat e gory inclu d e s ba n ks, broker/d e alers a nd i nv es t me nt m a n ag e me nt i n s titut i on s . A No n - Sup e r v i s e d Entity act i v e in t h e f ina n cial indu s try ( N OS U ) is not s up e r v i se d by a F ina n cial Mark e t R e gulator, but is a l s o is a n entity , to the main activities of which are to :  e ngage in pa y me nt, s e curiti e s , ba n ki n g, f ina n cial, in s uran c e or in v es t me nt se r v i c e s or a cti v it i e s to Sup e r v i s e d Financial In s titutions a nd/or to third p arties u nr e lat e d to the N o n - Sup e r v i s e d E ntity , or  e ngage in se r v i c e s to Sup e r v i s e d Financial In s titutions a n d / or to t h ird parties unr e lat e d t o t h e No n - Sup e r v i se d Entity, where those se r v i ce s s upport f ina n cial tr a n s action proc e s s ing by me a n s of co m m uni c ati

8 ng a n d proc es s ing in f or m a
ng a n d proc es s ing in f or m ation a nd r e qui r e the s e nding of m es s ag e s in the N o n - Sup e r v i s e d E ntity ’ s o w n n am e . NOS U ’s a r e e it h e r m ajorit y - o w n e d by ( an) e ntity /entities in t he u se r cat e gory of Sup e r v i se d FI , or is r e co m me nd e d b y thr e e e ntit i e s in the ca t e gory of S u p e r v i s e d FI u nr e l a ted to the N o n - Sup e r v i s e d Entity a p pli c a n t. C l o s e d U s e r G roups a n d c orporate e ntiti e s r e f e r to a nu m b e r of d i ffe r e nt e ntity t y p e s which are not FIs . E li g ibil i ty r e quir e m e nts vary for each of the following entity t yp e s :  Corporat e s  Financial M a rk e t R e gulator  Pay me nt Sy s t e m Participa n t  S e curiti e s Market Data Pro v i d e r  S e curiti e s Market In f ra s tr u ct u re S y s t e m Participa n t  S e r v ice Parti c ipa n t w it h in M e m b e r Ad m in i s te r e d Cl o se d U s e r G roup  T r e a s ury Counterparty Corporates are g e n e rally l i s t e d on a r e gulat e d s tock e xcha n ge of a co u ntry t h at is a me m b e r of t h e Financial Action T ask Fo r ce (F A T F), or r e c o m me nd e d f or m em b e r s hip by FI w hich i s located in a FATF m em b e r co u ntr y . A Financial M a rk e t R e gulator is an entity which is o w n e d or co n tr o ll e d b y f e d e ral, s tate, r e gio n al or local go ve r n me nt s a nd r e gulat e s o r s up e r v i s e s i n s titutions e ng a g e d in s e curit i es , b a n ki n g, f in a ncial, in v es t me nt or in s urance b u s in e ss . A Pay me nt Sy s t e m is d ef in e d as a funds tran s f e r s y s t e m p r o c e s s ing third p arty p a y me nts , which is su p e r v i s e d b y a C e ntr a l Bank or an a ppr o priate Re g u l atory A u t h orit y . A P a y me nt Sy s tem Parti c ipa n t is © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 8 a n i n s titution which is the C e ntr a l Bank, the Re g ulatory A u t h ority or t h e A d m ini s tr a tor of the Pay me nt Sy s t e m or an i n s titution a ut h ori s ed b y the C e ntr a l Ba n k, the Re g ulatory A u t h ority or t h e A d m ini s tr a tor to b e come a us e r of the Pa y me nt Sy s t e m , a ccor d ing to t h e a cc e s s cri t e ria of the Pa y me nt Sy s t em . A S e curit i e s Mar k e t Data Pro v id e r is a n entity , the p rincip a l acti v ity of which is to col l e ct a n d d i s tri b ute f i na n cial in f or m ation to FIs a s p art of the s e r v i c e or product t h e y p ro v id e . Fina n cial In f or m ation is de f in e d as: Corporate Action a nnounc e m e nt s , R e fe r e nce d ata, Se c u r iti e s Pri c ing i n f or m atio n , Ne w I s s ue

9 a nd Pro s p e ctus docu me nt s ,
a nd Pro s p e ctus docu me nt s , Tra d e Volu m e i nf or m atio n a nd Ind e x Data. A S e curit i e s Mar k e t In f ra s tr u c t u re S y s t e m is de f in e d a s a s y s t e m p roc e s s ing se curit i e s ’ r e l at e d m e ss a g e s or data, w hich is a d m in i s te r e d b y a C e ntr a l In s titution or an a pprop r iate Re g ulatory A u t h orit y . A S e curiti e s Market In f ra s tr u cture S y s t e m Part i cip a nt is a n i n s titution which is the Re g ulatory A u t h ority or t h e A d m in i s tr a tor of the S e curiti e s Market In f ra s tr u ct u re S y s t e m , or an i n s titution a ut h or i s ed b y the Re g ulatory A u t h ority or t h e Ad m ini s tr a tor to b e c o m e a us e r of the S e curiti e s Market In f ra s tr u cture S y s t e m a ccor d ing to the a cc e s s crit e r ia of t h e Se c uriti e s Mar k e t In f ra s t r ucture S y s t e m . S e r v ice Parti c ipa n t w it h in M e m b e r Ad m in i s te r e d Cl o se d U s e r G roups i s a M e m b e r Ad m i n i s te r e d Clo s e d U se r G roup d ef i n e d a s a group of u se rs se l e cted by a M em b e r t o p articipate in the clo se d use r gro u p a s Ser v i ce Participa n t a n d a llo we d to u s e SWI F T p roducts a nd s e r v ic e s to co mm unica t e with a Se r v i ce A d m in i s tr a t or. A T r e a s ury Counterparty i s an entity d uly i n cor p orated wit h in its o w n juri s diction which u nd e rt a kes a large v olu m e of tr e asury a cti v iti e s i n cident a l to its core b u s in e s s w ith mu l ti p le b a n k co u nterpartie s . © The Wolfsberg Group 2016 SWIFT Relationship Management Application (RMA) Due Diligence 9 A ppend i x D – T y pes of M ess a g es B e low i s a li s t o f the SWI F T m e s s age ca t e gori e s us e d to e f fe ct, con f ir m , a d v i s e a nd i n quire on the status of tr a n s actio n s i n v o l v ing v ario u s f ina n cial a s s e t s . The M T 90 0 se r i e s i s n ot u se d to e f fe ct t ran s actio n s a nd the excha n ge of M T 9 00 m e s s ag e s i s gener al ly con s id e r e d to be n o n - tr a n s actio n al acti v it y . M T 1 0 0 S e r i e s : Cu s to m e r Pay me nt a n d C h e q u e s M T 2 0 0 S e r i e s : Financial In s titution Tran s f e rs M T 3 0 0 S e r i e s : T r e a s ury Markets - Forei g n E x cha n g e , Mon e y Markets a nd Der i v ativ e s M T 4 0 0 S e r i e s : Coll e ction a nd Ca s h L e t t e rs M T 5 0 0 S e r i e s : S e curiti e s Marke t s M T 6 0 0 S e r i e s : T r e a s ury Markets - Pre c io u s M e tals – Reference Data M T 7 0 0 S e r i e s : Docu me ntary Cr e di t s a nd Guara n te e s M T 8 0 0 S e r i e s : T ra v e l l e rs Cheq u e s M T 9 0 0 S e r i e s : Ca s h Ma n ag e me nt a n d Cu s t o me r Stat