Struct Field58A 

pub struct Field58A {
    pub party_identifier: Option<String>,
    pub bic: String,
}

Field 58: Beneficiary Institution

Purpose

Specifies the ultimate recipient institution of the funds being transferred in specialized payment scenarios. This field identifies the final institutional beneficiary when the payment is destined for a financial institution rather than a customer account. Used in institutional transfers, central bank operations, and specialized financial market transactions where the beneficiary is itself a financial institution.

Format Options Overview

• Option A: BIC with optional party identifier - structured institutional beneficiary
• Option D: Party identifier with name/address - detailed institutional beneficiary

Business Context Applications

• Institutional Transfers: Payments between financial institutions
• Central Bank Operations: Transfers to/from central banks and monetary authorities
• Market Infrastructure: Payments to clearing houses, settlement systems
• Correspondent Banking: Institutional correspondent relationship transfers

Usage Rules and Conditions

• Mandatory Context: Required when beneficiary is a financial institution
• Option A Preference: Option A must be used whenever possible
• Option D Exception: Only in exceptional circumstances or regulatory requirements
• MT 200/201 Consistency: Must match Field 52A content if from MT 200/201 transfer

Network Validation Requirements

• BIC Registration: All BIC codes must be registered financial institutions
• Institutional Status: Beneficiary must be recognized financial institution
• Service Capability: Institution must be capable of receiving institutional transfers
• Regulatory Compliance: Must meet regulatory requirements for institutional recipients

Extended Clearing Codes (Option D)

Specialized Institution Codes

• CH: CHIPS Universal Identifier - 6!n format for CHIPS participants
• CP: CHIPS Participant - Direct CHIPS participation identifier
• FW: Fedwire Routing - 9!n format for Federal Reserve routing
• RU: Russian Central Bank - Russian Federation central bank identifier
• SW: Swiss Clearing - Swiss national clearing system identifier

Code Applications

• Payment System Integration: Direct integration with specialized payment systems
• Central Bank Coordination: Coordination with central bank and monetary authority systems
• Market Infrastructure: Integration with financial market infrastructure
• Cross-Border Settlement: International institutional settlement arrangements

Institutional Transfer Types

Central Bank Operations

• Monetary Policy: Central bank monetary policy implementation transfers
• Reserve Management: Bank reserve requirement transfers
• Foreign Exchange: Central bank FX intervention operations
• Government Operations: Government banking and treasury operations

Financial Market Infrastructure

• Clearing Houses: Transfers to/from clearing and settlement organizations
• Securities Settlement: Settlement of securities transactions
• Derivatives Clearing: Clearing of derivative instruments
• Payment Systems: Transfers within payment system infrastructure

Correspondent Banking

• Nostro/Vostro: Correspondent account management transfers
• Liquidity Management: Inter-bank liquidity management
• Settlement Services: Correspondent settlement service payments
• Relationship Management: Correspondent banking relationship transactions

Regional Considerations

North American Systems

• Federal Reserve: US central bank and Federal Reserve Bank transfers
• CHIPS Integration: Clearing House Interbank Payments System
• Canadian Systems: Bank of Canada and Canadian institutional transfers

European Systems

• ECB Operations: European Central Bank institutional transfers
• National Central Banks: Individual country central bank operations
• TARGET2: European RTGS system institutional transfers

Asia-Pacific Systems

• Central Bank Networks: Regional central bank cooperation
• Market Infrastructure: Regional financial market infrastructure
• Cross-Border Initiatives: Regional payment and settlement initiatives

Compliance and Risk Management

Regulatory Framework

• Institutional Due Diligence: Enhanced due diligence for institutional beneficiaries
• Regulatory Reporting: Institutional transfer reporting requirements
• Central Bank Oversight: Central bank supervision and oversight compliance
• Market Conduct: Financial market conduct and integrity requirements

Risk Considerations

• Counterparty Risk: Institutional counterparty risk assessment
• Settlement Risk: Institutional settlement risk management
• Operational Risk: Institutional operational risk considerations
• Systemic Risk: Systemic risk implications of institutional transfers

STP Processing Benefits

• Institutional Automation: Automated processing of institutional transfers
• System Integration: Direct integration with institutional systems
• Exception Handling: Specialized handling of institutional transfer exceptions
• Risk Monitoring: Enhanced risk monitoring for institutional transfers

Error Prevention Guidelines

• Institution Verification: Confirm beneficiary institution status and capability
• System Compatibility: Verify institutional system compatibility
• Regulatory Checking: Ensure regulatory compliance for institutional transfers
• Code Validation: Validate specialized clearing codes and identifiers

Related Fields Integration

• Field 52A: Ordering Institution (institutional transfer context)
• Field 57A: Account With Institution (institutional account relationships)
• Field 32A: Value Date, Currency, Amount (institutional transfer details)
• Field 72: Sender to Receiver Information (institutional transfer purpose)

Performance Optimization

• Processing Speed: Optimized processing for institutional transfers
• Cost Management: Efficient institutional transfer cost management
• Liquidity Management: Coordination with institutional liquidity management
• Settlement Timing: Optimal settlement timing for institutional operations

See Also

• Swift FIN User Handbook: Beneficiary Institution Specifications

• Central Bank Guidelines: Institutional Transfer Requirements

• Financial Market Infrastructure: Institutional Settlement Standards

• Regulatory Framework: Institutional Transfer Compliance

  Field 58A: Beneficiary Institution (BIC with Party Identifier)

Structured institutional beneficiary identification using BIC code with optional party identifier. Preferred option for institutional transfers and financial institution beneficiaries.

Fields

party_identifier: Option<String>

Optional party identifier for institutional account or system reference

Format: [/1!a][/34x] - Single character code + up to 34 character identifier Used for institutional account identification and system-specific routing

bic: String

Bank Identifier Code of the beneficiary institution

Format: 4!a2!a2!c[3!c] - 8 or 11 character BIC code Must be registered financial institution capable of receiving institutional transfers

Trait Implementations

impl Clone for Field58A

fn clone(&self) -> Field58A

Returns a duplicate of the value.

fn clone_from(&mut self, source: &Self)

Performs copy-assignment from source.

impl Debug for Field58A

fn fmt(&self, f: &mut Formatter<'_>) -> Result

Formats the value using the given formatter.

impl<'de> Deserialize<'de> for Field58A

fn deserialize<__D>(__deserializer: __D) -> Result<Self, __D::Error>

where __D: Deserializer<'de>,

Deserialize this value from the given Serde deserializer.

impl PartialEq for Field58A

fn eq(&self, other: &Field58A) -> bool

Tests for self and other values to be equal, and is used by ==.

fn ne(&self, other: &Rhs) -> bool

Tests for !=. The default implementation is almost always sufficient, and should not be overridden without very good reason.

impl Serialize for Field58A

fn serialize<__S>(&self, __serializer: __S) -> Result<__S::Ok, __S::Error>

where __S: Serializer,

Serialize this value into the given Serde serializer.

impl SwiftField for Field58A

fn parse(value: &str) -> Result<Self>

Parse field value from string representation

fn to_swift_string(&self) -> String

Convert field back to SWIFT string format

fn format_spec() -> &'static str

Get field format specification

fn parse_with_variant( value: &str, _variant: Option<&str>, _field_tag: Option<&str>, ) -> Result<Self>

where Self: Sized,

Parse field value with variant hint for enum fields Default implementation falls back to regular parse

fn valid_variants() -> Option<Vec<&'static str>>

Get valid variant letters for enum fields Returns None for non-enum fields, Some(vec) for enum fields

impl StructuralPartialEq for Field58A