Argentina: Updated BCRA mandatory requirements for cash instructions
Clearstream Banking1 would like to inform its customers of new mandatory information requirements for cash instructions via Citibank N.A. Buenos Aires as Cash Correspondent Bank, effective
28 August 2015.
The Banco Central de la Republica de Argentina (BCRA) has updated the mandatory information requirements to be provided in all cash instructions (withdrawal and book-entry transfers of funds) processed via SWIFT MT103 and MT202.
Impact on customers
Customers are to instruct as per the following requirements. Transactions will not be processed unless the information received is complete.
1. Change of BCRA codes:
Code number 08 (“Others”) is deleted and four new codes are added to the below list (highlighted in grey), as follows:
| Code number | Description |
| 01 | Interest |
| 02 | Amortization |
| 03 | Interest and amortization |
| 04 | Advance rescue |
| 05 | Settlement |
| 06 | Primary settlement |
| 07 | Corporate Bonds |
| 09 | Dividends |
| 10 | Buy/Sell Securities |
| 11 | Swaps/Forwards |
| 12 | Fees related to Securities Transactions |
2. New anti-laundering codes:
Customers are required to declare whether they are considered a Public Exposed Person (PEP), or Non-Public Exposed Person (NO PEP) as per law 25.246 and amendments:
| Description |
| Public Exposed Person (PEP) |
| Non-Public Exposed Person (NO PEP) |
To fill in SWIFT MT103 and MT202, customers are reminded of the following steps:
SWIFT MT103
Field :59: Beneficiary
The 11-digit local tax identification number of the beneficiary is mandatory and must be entered in the first line preceded by the appropriate code type.
- Example: :59:/CDI/12345678910
The beneficiary institution may also require the relevant CBU (Clave Bancaria Unificada) code in the second line of this field. The CBU is a 22-digit identification code that identifies the financial institution, its branch office and the specific bank account that is to be credited. An example is as follows:
- Example: CBU/1234567890123456789098
If the customer wants to include the beneficiary name, this should be entered in the line below, as follows:
- Example: :59:/CDI/12345678910
- Example: CBU/1234567890123456789098
- Example: Bank of ABCXYZ
Field :70: Narrative
The 12-character ISIN code of the underlying transaction must be entered in the first line, with the appropriate operation type entered on the second line, followed by the new anti-money laundering code (PEP or NO PEP).
- Example: :70:/ISIN/XX1234567890
- Example: //01 Interest/NO PEP
SWIFT MT202
Field :72: Sender to receiver information
The 11-digit local tax identification number of the beneficiary is mandatory and must be placed in the first line preceded by the appropriate code type.
The 12-character ISIN code of the underlying transaction must be entered in the second line, with the appropriate operation type and the new anti-money laundering code (PEP or NO PEP) entered in the line below, as follows:
- Example: :72:/CDI/12345678910
- Example: /ISIN/XX1234567890
- Example: //01 Interest/NO PEP
Field :58a: Beneficiary institution
The beneficiary institution may also require the relevant CBU (Clave Bancaria Unificada) code in the second line of this field. The CBU is a 22-digit identification code that identifies the financial institution, its branch office and the specific bank account that is to be credited. An example is as follows:
- CBU/1234567890123456789098
If the customer wants to include the beneficiary name, this should be entered in the line below, as follows:
- Example: :58D:/CBU/1234567890123456789098
- Example: Bank of ABCXYZ
Local tax identification code information reminder:
For non-resident investors:
- CDI (local identification code).
- If required, Clearstream Banking's local identification code (CDI number) is 30712217681.
For local entities:
- CUIL (labour identification code)
- CUIT (tax identification code)
Further information
For further information, customers may contact Clearstream Banking Customer Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.