Skip to main content
Header logo

ISO 15022
Data Field Dictionary

MT507: (25) Field 24B: Reason Code: Rejection Reason

FORMAT

Option B :4!c/[8c]/4!c (Qualifier)(Data Source Scheme)(Reason Code)

PRESENCE

Optional in conditional (see rule C2) sequence B

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

O

REJT

N

 

B

Rejection Reason

DEFINITION

This qualified generic field specifies:

REJT

Rejection Reason

Specifies the reason why the collateral piece has a rejected status.

CODES

If Data Source Scheme is not present, Reason Code must contain one of the following codes:

CONL

Concentration Limit Exceeded

Concentration limit was exceeded.

INEL

Ineligible Collateral

Ineligible piece of collateral.

NARR

Narrative

See narrative field for reason.

WBKG

Wrong Bank Quoted

Wrong bank is quoted on the bank guarantee or documentary credit.

WSET

Wrong Settlement Parties

Settlement parties are incorrect.