MT330 — Call/Notice Loan/Deposit Confirmation
The confirmation of an interbank Call (at sight) or Notice (with notice period) loan or deposit. Variable variant of MT320, used for trades without fixed maturity and indexed on an RFR (€STR, SOFR).
Purpose
MT330 confirms a loan / deposit operation without a fixed maturity: either counterparty can terminate the operation (Call) or must give notice (Notice, typical 7 or 30 days). The rate is generally floating, pegged to a Risk-Free Rate (€STR for EUR, SOFR for USD, SARON for CHF, TONA for JPY) with an additive spread.
Flow context: two nostro/loro banks park liquidity surpluses overnight or short-term via MT330; at each RFR rate fixing (end of business day), interest accrues and is settled at the next triggered maturity (Call or Notice). Since LIBOR cessation (June 2023), EUR MT330s almost exclusively index €STR + spread.
Sequence structure
Structure very close to MT320:
- Sequence A — General Information (
:15A:): reference, BICs, type. - Sequence B — Transaction Details (
:15B:): principal, dates, rate, notice period, day count, RFR index, settlement. - Sequence C — Optional Settlement (
:15C:): split, broker, adjustments.
Mandatory tags
| Tag | Sequence | Name | Usage |
|---|---|---|---|
:20: | A | Sender's Reference | Unique deal reference. |
:22A: | A | Type of Operation | NEWT, AMND, CANC, RECC (reset on call). |
:22B: | A | Type of Event | CONF. |
:22C: | A | Common Reference | Shared reference for matching. |
:82A: / :87A: | A | Party A / Party B | Counterparty BICs. |
:17R: | B | Loan / Deposit Indicator | L (loan) / B (borrow). |
:17N: | B | Call / Notice Indicator | Y (Call, at sight) / N (Notice, with notice). |
:30T: | B | Trade Date | Trade date. |
:30V: | B | Value Date | Principal availability date. |
:32B: | B | Currency / Principal Amount | Currency + amount. |
:38E: | B | Notice Period | Notice period (e.g. 7DAYS, 30DAYS) — mandatory if :17N:N. |
:37G: | B | Interest Rate | Fixed rate or spread over RFR (%). |
:14A: | B | Floating Rate Index | ESTR, SOFR, SARON, TONA, SONIA — RFR index used. |
:14D: | B | Day Count Fraction | ACT/360, ACT/365. |
:53A: / :57A: | B | Sender's / Receiver's Correspondent | Settlement BICs. |
Real-world example
7-day Notice loan of EUR 25 million from BNP Paribas to Deutsche Bank, indexed €STR + 0% (the rate is plain €STR, compounded daily on each business day), value 20 May 2026, ACT/360 convention. The €STR fixing publication at 09:15 CET is the reference for the previous day:
{1:F01BNPAFRPPAXXX0000000000}{2:I330DEUTDEFFXXXXN}{3:{108:CAL20260516001}}{4:
:15A:
:20:CAL20260516001
:22A:NEWT
:94A:AGNT
:22B:CONF
:22C:BNPAFRPP3344DEUTDEFF
:82A:BNPAFRPPXXX
:87A:DEUTDEFFXXX
:15B:
:17R:L
:17N:N
:30T:20260516
:30V:20260520
:32B:EUR25000000,00
:38E:7DAYS
:37G:1,4500
:14D:ACT/360
:14A:ESTR
:53A:BNPAFRPPXXX
:57A:DEUTDEFFXXX
-}:17R:L— BNP lends.:17N:N— Notice deposit, with notice.:38E:7DAYS— 7-day notice.:32B:EUR25000000,00— EUR 25 M.:14A:ESTR— €STR index.:37G:1,4500— current rate 1.45% (e.g. daily €STR at 1.45%).:14D:ACT/360— EUR convention.
Common pitfalls
- Call vs Notice — Call (
:17N:Y) means terminable anytime, without:38E:. Notice (:17N:N) requires:38E:. Confusing the two leads to a non-honoured early call. - RFR index miscoded — SWIFT convention for
:14A:uses the official short codes: ESTR (not «€STR»), SOFR, SARON, TONA, SONIA. Non-conforming spelling is rejected by automated parsers. - LIBOR cessation — since June 2023, LIBOR USD/EUR/JPY/CHF/GBP are retired. Any MT330 with
:14A:LIBRis rejected. Migrate to SOFR / €STR / SARON / TONA / SONIA. - Compounding vs simple interest — for overnight RFRs, the standard convention is daily compounded in arrears. The instantaneous
:37G:must be interpreted alongside a compounding schedule agreed in the master agreement. - Notice on non-business days — a 7-day notice falling on a weekend is extended to the next business day (modified following). Forgetting it creates an effective-date mismatch.
ISO 20022 equivalent
No standardised ISO 20022 equivalent for the bilateral money market with RFR in 2026. A few tsrv.001 initiatives surfaced after LIBOR cessation but have not been adopted. CCPs (LCH SwapClear) use their own formats for cleared operations.