The EPC made public a draft version of the SCT Rulebook intended for roll-out on 1 February 2009. The Change Request document describes how the change management process works and breaks down the changes into a number of categories and explains the rationale behind these. It is accompanied by the Implementation Guidelines, also showing the effect of the proposed changes. A clean version of the Rulebook is also available. In addition, a template will be provided for use in supplying EPC with any comments or suggestions on the proposed amendments.
This new version of the Rulebook features further improvements in response to requests from the market with the inclusion of information on the originator and beneficiary reference parties in the messages, and the addition of purpose codes (as defined in ISO 20022) that will allow payments such as salaries, for example, to be identified by bank's clients for reconciliation purposes.
At the same time and in the same vein, work on the harmonisation of customer to bank file format specifications is progressing well and the support of a future ISO creditor reference standard is envisaged.
The draft Rulebook will be finalised and submitted for approval at the EPC Plenary meeting on 24 June 2008.
Credit Transfer Scheme Change Request
© Graham Bishop
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