Following new market practices and the significant migration of market infrastructures to the ISO20022 standard, changes have been introduced and will apply to the payment message for the next few years, starting from 2022 with some market infrastructures. The changes will allow a richer and more flexible standard, enabling market infrastructures to offer more innovative and efficient services.
Guidelines version v2.4
To clarify the Luxembourg implementation of these changes, the ABBL task force on ISO20022 prepared guidelines for the credit transfer initiation message sent to banks in Luxembourg. They cover both SEPA credit transfers (SCT) and other credit transfers.
While the ISO 20022 XML v2.4 customer transfer initiation message based on the ISO 20022 pain.001.001.03 message is still supported until 21 November 2023, it is strongly recommended to use the v3.0 version of the guidelines based on the ISO 20022 pain.001.001.09 message from 21 November 2022.
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