MT-TAG-53A

MT tag 53a identifies the Sender's Correspondent on an MT 103/202 — the institution holding the Sender's account and debiting the payment.

Definition

Tag 53a tells which bank debits the Sender. On an EUR payment via a French correspondent it is typically empty (implicit). On a USD payment to the US, 53a identifies the US correspondent (Bank of New York, JPMorgan, etc.).

Origin

Present since the earliest MT 103 specifications. Its role is central to computing the Charges Bearer (BEN/OUR/SHA).

Use

BNP Paribas Paris sends a USD MT 103 to a US bank. Tag 53a = JPMCHASNY (BNP Paribas's USD correspondent). Net settlement happens between nostro/vostro accounts on Fedwire.

Related terms

• MT tag 52a — ordering institution.
• MT tag 54a — receiver's correspondent.
• BIC — identifier format.
• ISO 20022 — ISO 20022 successor.