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federa l

reserve

Bank o f Dallas

DALLAS. TEXAS

75222
Circular No. 82-124
September 29, 1982

NEW FORMAT FOR FEDWIRE
THIRD-PARTY TRANSFERS OF FUNDS MESSAGES
TO ALL ON-LINE DEPOSITORY INSTITUTIONS
IN THE ELEVENTH FEDERAL RESERVE DISTRICT:
The Federal Reserve System has adopted a new format for third-party
transfers of funds structured by the American Bankers Association. This structured
format should significantly reduce manual handling of and improve investigative
procedures concerning these types of transfers for financial institutions.
Structured formats for certain types of messages currently in use will
not be changed. However, machine readable information regarding third-party
beneficiaries will be provided in type code 10, 12, 15, and 16 transfers.
To expedite the processing of third-party transfers, a new subtype
code (40) has been established to designate messages which have third-party data
structured according to the standards. For service and other messages (subtype 01,
02, 07, 08, and 90) referencing previously sent subtype 40 messages, the current
subtype codes will continue to be used. All financial institutions with computerto-computer links should be prepared to accept subtype code 40 messages effective
December 1, 1982.
The ABA's definitions of product codes and alphabetic field tags to be
used in structuring third-party transfers is attached, as is an example of a Fedwire
third-party message formated in accordance with the standards. On December 1,
1982, on-line depository institutions in this District will be ble to receive subtype
code 40 messages. The ability to send this subtype code will be offered at a future
date.
Further information concerning subtype 40 formats is available in the
ABA publication Developing A More Efficient Funds Transfer Service, Phase II.
Inquiries regarding this publication can be addressed to the American Bankers
Association, Operations Group, 1120 Connecticut Avenue, NW, Washington, D.C.,
20036. Questions regarding the use of these standards and formats should be
referred to Ms. Jonnie K. Miller, Transfers of Funds Division, (214) 651-6290 at the
Dallas Office.
Additional copies of this circular will be furnished upon request to the
Department of Communications, Financial and Community Affairs, Extension 6289.
Sincerely yours,

William H. Wallace
First Vice President
Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank:
1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the
extension referred to above.

This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)

THIRD PARTY FORMATTING
WIRE TRANSFER OF FUNDS

E s ta b lis h in g a sta n d a rd f o r s t r u c tu r in g t h i r d p a rty
d a t a i s i n t e n d e d t o r e d u c e b o t h t im e a n d e x p e n s e i n a u t o m a t i n g
th e

p r o c e s s in g o f t h i r d p a r ty t r a n s f e r s o v e r th e F e d e r a l R eserv e

Corriirtunications S y s te m .

P ro v id in g c u sto m e r in f o r m a tio n i n a

s t a n d a r d i z e d f o r m a t i n t h e m e ssa g e w i l l p e r m i t t h e r e c e i v i n g
i n s t i t u t i o n t o a u to m a te t h e p r o c e s s i n g o f f u n d s t r a n s f e r s and
sp e e d d e l i v e r y t o t h e b e n e f i c i a r y .

S tr u c tu r in g in fo rm a tio n in

t h e m e s s a g e a l o n g w i t h s t a n d a r d i z e d a b b r e v i a t i o n s f o r common
fo rm a ttin g ,

in a d d itio n to s u p p o rtin g a u to m a tio n , w i l l s im p lif y

m e s sa g e p r e p a r a t i o n , r e d u c e e r r o r r a t e s ,

a id in in te r p r e t a ti o n

o f t h i r d p a r t y d a t a and im p rov e f i n a n c i a l i n s t i t u t i o n
in v e s tig a tiv e p ro ced u res.
W ire T r a n s f e r o f F u n d s - P r o d u c t C odes
P ro d u c t codes a re used to i n d i c a t e to a r e c e i v e r th e
t y p e o f b u s i n e s s t h e m e ssa g e p e r t a i n s t o a n d a r e a u t h o r i z e d f o r
u se i n f u r t h e r c l a s s i f y i n g w ire t r a n s f e r o f fu n d s m essag es s e n t
o v e r F e d w ire.

A p r o d u c t code w i l l be u se d t o d i s t i n g u i s h t h i r d

p a r t y and b a n k t o b a n k t r a n s f e r m e s s a g e s .
L o c a tio n
The p r o d u c t c o d e i s l o c a t e d on l i n e f i v e i n t h e f i e l d
f o l l o w i n g t h e R e c e i v e r B a n k 's a b b r e v i a t e d name an d c o n s i s t s o f
th re e a lp h a b e tic c h a ra c te rs .

-2 -

D e sc rip tio n
The p r o d u c t c o d e s a u t h o r i z e d f o r u s e w i t h w i r e
t r a n s f e r o f fu n d s m essages s e n t o v e r th e F e d e ra l R eserv e
C o m m u n ic a tio n s S y stem a r e d e f i n e d b e lo w :
P r o d u c t Code
BTR

D e f i n i t i o n o f P r o d u c t Code
Bank T r a n s f e r , i n d i c a t i n g
th e b e n e f ic ia r y i s a bank.

CTR

T h i r d P a r t y C u sto m e r T r a n s f e r ,
in d ic a tin g th e b e n e fic ia ry
i s a nonbank.

T h is i n d i c a t e s

t h i r d p a r t y d a t a in th e m essage
i s s t r u c tu r e d a c c o rd in g t o th e
a u th o riz e d sta n d a rd s to su p p o rt
a u to m a te d p r o c e s s i n g .
DEP

D e p o s it, t o S e n d e r 's a c c o u n t.

DRW

Drawdown

FFR

Fed F u n d s

R e tu r n e d

FFS

Fed F u n d s

S o ld

LPT

Loan P ay m ent

W ire T r a n s f e r o f F u nd s - A lp h a F i e l d T ags
These f i e l d ta g s a re used to i d e n t i f y th e t h i r d p a r t y
d a t a e l e m e n t s i n s e r t e d by t h e o r i g i n a t o r o f f u n d s t r a n s f e r
m essages.

-3~

Location

The a l p h a f i e l d t a g s a r e i n s e r t e d i n t h e f r e e fo rm
t e x t f o l l o w i n g b o t h s e n d e r and r e c e i v e r bank nam es w i t h i n t h e
fu nds t r a n s f e r m essag es.

T hese a lp h a f i e l d t a g s c o n s i s t o f

t h r e e a l p h a b e t i c c h a r a c t e r s f o l l o w e d by an e q u a l

(=)

sig n .

The p r o p e r o r d e r o f p l a c e m e n t i n t h e m e s sa g e i s t h e o r d e r
l i s t e d b e lo w .

The maximum num ber o f a l p h a f i e l d t a g s w i l l

p r o b a b ly be u se d i n o n ly a s m a ll p e rc e n ta g e o f t r a n s f e r s .
O n ly t h o s e f i e l d t a g s a p p l i c a b l e t o t h e p a r t i c u l a r m e s s a g e
s h o u l d be u s e d .
D e s c rip tio n
The f o l l o w i n g a l p h a f i e l d t a g s a r e a u t h o r i z e d
f o r u se w ith w ire t r a n s f e r o f fu n d s m essages s e n t o v e r th e
F e d e r a l R e s e r v e C o m m u n ic a tio n s S y s te m .
A lp h a F i e l d Tag
ORG= —
^

D e s c r i p t i o n o f A lp h a F i e l d Tag
O r ig in a to r , th e i n i t i a t o r o f
th e tr a n s f e r in s tr u c tio n s .

1 / S e n d e r f i e l d t a g s (ORG=, RFB=, OGB= and INS=) s h o u l d
b e p l a c e d o n l i n e f o u r f o l l o w i n g t h e S e n d e r B a n k 's
a b b r e v i a t e d name. H ow ever, when t h e r e i s d a t a f o r
m ore t h a n two o f t h e s e a l p h a f i e l d t a g s , t h e o t h e r
t a g s s h o u l d be p l a c e d a t t h e en d o f t h e m e s s a g e .

A lp h a F i e l d Tag
RFB=

D e s c r i p t i o n o f A lp h a F i e l d Tag
R eferen ce f o r th e B e n e f i c i a r y /
t h e r e f e r e n c e w h ic h e n a b l e s
th e b e n e fic ia ry to i d e n t i f y
th e tr a n s f e r .

OGB= —
^

O r i g i n a t o r ’ s B an k, i d e n t i f i e s
t h e ban k a c t i n g f o r t h e
o r ig in a to r o f th e t r a n s f e r .

INS= —

I n s t r u c t i n g Bank, t h e ban k t h a t
i n s t r u c t s th e sen d er to e x e c u te
th e tra n s a c tio n .

IBK=

In te rm e d ia ry B a n k (s ), th e
b a n k ( s ) b e tw e e n t h e r e c e i v i n g
b a n k and t h e b e n e f i c i a r y ' s
b a n k t h r o u g h w h ic h t h e t r a n s f e r
m ust p a s s , i f

s p e c i f i e d by th e

se n d in g ban k .

In such c a s e s ,

t h i s i s th e r e c e iv in g b a n k 's
c re d it p a rty .

1 / S e n d e r f i e l d t a g s (ORG=, RFB=, OGB= and INS=) s h o u l d
b e p l a c e d on l i n e f o u r f o l l o w i n g t h e S e n d e r B a n k ’ s
a b b r e v i a t e d nam e. H o w ev er, when t h e r e i s d a t a f o r
m o re t h a n two o f t h e s e a l p h a f i e l d t a g s , t h e o t h e r
t a g s s h o u l d b e p l a c e d a t t h e end o f t h e m e s s a g e .

- 5 -

A lp h a F i e l d Tag
BBK=

D e s c r i p t i o n o f A lph a F i e l d Tag
B e n e f i c i a r y 's B ank, th e bank
th a t a c ts a s th e f in a n c ia l
agent fo r th e b e n e fic ia ry of
th e t r a n s f e r .

BNF=

B e n e fic ia ry —

t he u ltim a te

p a rty t o be c re d ite d o r p a id
as a r e s u lt of a tra n s fe r.
OBI=

O rig in a to r to B e n e fic ia ry
In f o r m a tio n , in fo rm a tio n to be
c o n v e y e d fro m t h e o r i g i n a t o r
to th e b e n e f ic ia r y .

BBI=

Bank t o Bank I n f o r m a t i o n ,
m is c e lla n e o u s in fo rm a tio n
p e r ta in in g to th e t r a n s f e r
w h ic h may i n c l u d e i n f o r m a t i o n
s p e c i f y i n g f o r w h ic h b a n k ( s )
th e in fo rm a tio n i s in te n d e d .

P r o p e r Use
The p r o p e r u s e o f p r o d u c t c o d e s and a l p h a f i e l d
ta g s i s th e r e s p o n s i b i li t y of th e f i n a n c ia l i n s t i t u t i o n

1 / T h i s f i e l d s h o u l d i n c l u d e name a n d a d d r e s s / i d e n t i f i e r /
a d v ic e m eth o d /a d v ic e in fo rm a tio n .

- 6 -

o r i g in a t in g th e t r a n s a c ti o n .

At th e p r e s e n t tim e , th e

F e d e r a l R e s e r v e w i l l n o t e d i t f u n d s t r a n s f e r s i n i t i a t e d by
o n - l i n e f i n a n c i a l i n s t i t u t i o n s f o r c o m p lia n c e w i t h t h e s e
sta n d a rd s.

E X A M P L E

FORMATTED THIRD PARTY MESSAGES

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12100035Si040.

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$1,000,000.00

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CITIBANK NYC/C3S=J. C3CM8S, LONDCN RFB=INV 8123______________________
BK AM SF/CTP/ZBK=B OF A LOS ANGELES BBK=EK OF SAN PEDRO, SAN PEDRO
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Cfi. B^=H.L.mX7STRIES/D-12-34567/PHN/(415) 555-2099 CBI=EQUIP PURCH
BBI=NOnFY TREASURER OGB=BftNK OF TOE NORTH, LONDON TNS=CITIBANK IONDCN


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102