MT-TAG-54A

MT tag 54a identifies the Receiver's Correspondent on an MT 103/202 — the institution that will be credited for the Receiver's account.

Definition

Tag 54a is symmetric to 53a. It identifies the correspondent bank on the Receiver side. Critical for multi-currency payments where several nostro/vostro accounts are involved.

Origin

Specified since the earliest MT 103 versions. With SWIFT gpi, its role is made visible in real-time on the Tracker.

Use

On an EUR payment from New York to Tokyo, 54a may identify a European intermediary bank (e.g. Deutsche Bank) holding EUR nostro accounts for both ends. Final settlement runs through this bank.

Related terms

• MT tag 53a — sender's correspondent.
• MT tag 56a — intermediary institution.
• BIC — identifier format.
• ISO 20022 — ISO 20022 successor.