MT 320 Explained: Fixed Loan/Deposit Confirmation

MT 320 confirms a fixed-term interbank money-market deal — one bank placing a deposit with, or lending to, another for an agreed period at an agreed rate, maturing on a specific date. Like MT 300 for FX, it's the paper trail both counterparties check against each other after agreeing terms verbally or on a trading platform.

Key fields

• 20 — Sender's Reference: The sending bank's own deal reference.
• 22A — Type of Operation: New, amendment, or cancellation.
• 30 — Trade Date: When the deal was agreed.
• 30V — Value Date: When the principal is exchanged.
• 30P — Maturity Date: The fixed date the deposit/loan matures and principal plus interest is repaid.
• 32B — Currency/Amount: The principal amount.
• 37G — Interest Rate: The agreed fixed rate for the term.
• 53a / 57a — Settlement Instructions: Where the principal should actually settle for each party.

The fixed maturity date is what distinguishes MT 320 from MT 330 — here, both sides know exactly when the deal unwinds the moment it's struck.