All Things ISO
This is the abbreviation of ISO.
What is International Organization for Standardization?
Legacy Fed Messages utilized the name Field, now it is called this....Not releated to the Periodic Table
What is Element?
True or False:
A legacy Fed message 1032 means we are rejecting the Drawdown request.
False- 1032 is Funds approval.
Payment Return....Hmmmm, send the money back!
ISO will inprove this.....Name just one!
Risk Management
Operations
Message Management
A party is now called this.
A Customer Transfer 1000 is now this this......No eating the Ghost...Inky!
Pacs.008
True or False:
Pacs stands for: Payments Clearing And Settlement message
True: payments clearing & settlement
Messages that support the interbank clearing and settlement of payments, e.g., customer or financial institution credit transfers
The Ordering customer is now this name.
I would like a #2 please no onions...
What is the Debitor?
These are the 3 message types for a Credit Transfer.
What is pacs.008, pacs.009, and pac.004?
A new MTS user interface for non-value messaging for wires. Beam me up Scotty!!!!
What is Control Center?
A FED 1000 is now this in ISO20022 ISO terminology.
What is a pacs008?
True or false:
Command Control is the name of the new MTS user interface.
False: Control Center
US Treasury Tax Payment is this....No more colons!
What is a pacs.008
Structured Address is part of the ISO 20022 Program
True
1600 MSG type was a BTR now I am this.....Bev would create me at 6:45PM.
What is pacs.009
Legacy 1031 & 1032's are now this.....Not releated to the migraine you have either
What is pain.013 & pain.014
True or False:
ISO formatted payment message does not get stopped for OFAC violations.
False:
All payment message are scanned by Actimize and subject to OFAC review.
July 14, 2025 is known as this date......Don't be Tardy for the Party
What is the FED ISO implantation date?
This legacy field tag houses the beneficiary info.......... 4 lines of 35
What is the 4200?
The FRB is transitioning from this to ISO20022.
What is FAIM?
The Beneficiary in a legacy FAIM message is now called this.
What is Creditor?
Oh no! Comerica will no longer send or recieve Drawdown Requests or Responses.
False!
Comerica decommissioned this function in April 2025
What is SUI?
With the decommissioning of SUI, all SWIFT messaging will be performed in MTS Video
ISO is also being implemented with ACH transaction?
False