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ISO 15022
Data Field Dictionary

MT548: (48) Field 22F: Penalty Type Indicator: Penalty Type

FORMAT

Option F :4!c/[8c]/4!c (Qualifier)(Data Source Scheme)(Indicator)

PRESENCE

Mandatory in optional subsequence C1a1

QUALIFIER

(Error code(s): T89)

Order

M/O

Qualifier

R/N

CR

Options

Qualifier Description

1

M

PNTP

N

 

F

Penalty Type

DEFINITION

This qualified generic field specifies:

PNTP

Penalty Type

Indicates the type of penalty.

CODES

Indicator must contain one of the following codes:

LMFP

Late Matching Fail Penalty

Applies from the intended settlement date until the matching date. The penalty is charged to the participant who was last to enter or modify the relevant settlement instruction (for example, "accepted timestamp" is later than the one of the counterparty's instruction) for the periods between the ISD and the day of matching of the instruction.

SEFP

Settlement Fail Penalty

Penalties apply to instructions that fail to settle on the intended settlement date. A settlement instruction that "fails to settle on that business day" must be understood as a settlement instruction that is not cancelled and remaining to be settled, fully or partially, by the time of the end of processing of the relevant cut-off.