Bank Services Billing message - A MUG has been published

Dec 19, 2012

Payments: A Message User Guide (MUG) has been published for the Bank Services Billing (BSB) message

The Payments SEG has approved the publication of a Message User Guide for the Bank Services Billing Message (camt.086.001.01) submitted by TWIST & SWIFT. 

The MUG describes the data content requirements of the Bank Services Billing (BSB) standard as defined by ISO 20022.

This document is intended to:

  • define the basic structure of the BSB message
  • assist implementers and others (corporations, banks, technology firms, etc.) to better understand the structure and intended use of the standard.
  • define in detail the intended use of all the individual data elements within the message

The BSB standard consists of a single message specification. There are no additional messages (such as status, confirmation, resend, etc.). The BSB standard addresses the information content of the message. Message transport (i.e. communications protocols such as IP and FTP) and message security (such as PKI) are not addressed by the BSB standard.

 

Bank Service Billing summary

The BSB provides a standard means for banks to periodically advise their wholesale clients or correspondent banks bank service fees, taxes and average balances.  Electronic in form, the BSB is designed to augment or replace the corresponding paper billing statement or to introduce a billing statement if there is no paper statement available. 

BSB is intended to be equally relevant for use regardless of where bank accounts reside.  By design BSB is intended to cover the EU, Singapore, USA, and other countries. It needs to be recognized however that bank billing and related market practice is complex and diverse across multiple geographies. It is possible that revisions to the standard will be required to accommodate market practice (or changes to practice) not accommodated by the standard at the time of its creation. A maintenance process will be available to address future revisions to the standard which may be required.

 

A MUG? What is it?

A MUG is an ISO 20022 document that complements the ISO 20022 Message Definition Report (MDR) when there is a need for further explanation about how to use the message definition(s) in compliance with the standard. 
MDRs and MUGs are published in the Catalogue of ISO 20022 messages.

For more information about MDR, MUG and MIGs, download the description prepared by the RMG.