SR2014: New Enhancements Supported by Citi

Transcription

1 Markets & Securities Services SWIFT 10 July 2014 SR2014: New Enhancements Supported by Citi as of 10 July 2014 The following SWIFT SR2014 enhancements to be supported as of November 16 th 2014 for Regions A, B and C, unless otherwise indicated If messages are not present in the list below it indicates that no changes are taking place in Citi for those messages.

2 Regions Region A Asia Central Europe Europe Latin America/Central America North America Middle East/Africa Caribbean Region B Region C Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, Vietnam Bosnia & Herzegovina, Bulgaria, Croatia, Estonia, Latvia, Lithuania, Russia, Serbia, Slovakia, Slovenia, Ukraine Austria, Belgium, Clearstream Banking, Denmark, Euroclear Banking, Finland, France, Germany, Iceland, Ireland, Italy, Malta, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Panama, Peru, Uruguay, Venezuela Canada Bahrain, Botswana, Ghana, Ivory Coast, Kenya, Kuwait, Lebanon, Mauritius, Namibia, Nigeria, Oman, Palestine, Qatar, Saudi Arabia, South Africa, Tunisia, UAE, Uganda, Zambia, Zimbabwe Bermuda, Jamaica, Trinidad & Tobago Czech Republic, Cyprus, Egypt, Greece, Hungary, Israel, Jordan, Macedonia, Morocco, Pakistan, Poland, Romania, Turkey, Ukraine United States All applicable conditional, network validated and usage rules will be supported. Where wording has change in the standard, added text is show in bold in green shading. Removed text is shown in red shading with strike through text.

3 For Settlement Instruction and Confirmations, Status and Processing Advices, Interposition Movements and Settlement Allegements: MT540 MT541 MT542 MT543 MT544 MT545 MT546 MT547 MT548 Sequence B TRADDET Sequence B SETTRAN 94a Place TRAD Usage Rules Requirement 1.0 Change in definition of the Usage Rules for the Place of Trade field 94B TRAD in sequence B Trade Details of the MT540-7 and sequence B Settlement Transaction Details of the MT548. Usage Rules When Place Code is OTCO, Narrative, if present, must specify the system. When Place Code is EXCH, Narrative, if present, must specify the Market Identifier Code (MIC). A cross-exchange netted transaction is to be identified by the combination of Various (Place field :94B::TRAD//VARI) and Netting ( field :::SETR//NETT). Should be of no impact to clients. When the Place of Trade code EXCH is used, Citi expects clients to populate the MIC of the exchange and this will continue to be the case. When the Place of Trade code is OTCO, Citi will continue to process the field in line with what is instructed today and will play back the information on settlement confirmation messages as we do today

4 MT540 MT541 MT542 MT543 MT544 MT545 MT546 MT547 Sequence E3 AMT 17B Flag Usage Rules Requirement 1.1 Change in definition of the Usage Rules for the Flag field 17B with qualifiers ACRU (Accrued Interest Flag), STAM (Stamp Duty Flag) and EXEC (Brokerage Amount Flag) in sequence E3 Amount. Usage Rules Flag is only to be used in a sequence E3 with settlement amount field 19A::SETT//[N]3!a15d as it indicates whether the concerned settlement amount includes the accrued interest and/or the stamp duty amount and/or the brokerage amount. Should be of no impact to clients. Citi expects clients to populate the Flag field, where relevant, in line with the Usage Rules of the field. MT508 Sequence B INPOSDET CAEV//CONS Requirement 1.2 Change in definition of Corporate Action Event code CONS (Consent) in field with qualifier CAEV in sequences B Intra Position Details. CONS Consent Procedure that aims to obtain consent of holder to a proposal by the issuer or a third party. This procedure is not required to be linked to the organisation of a formal meeting without convening a meeting. For example, consent to change the terms of a bond. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

5 MT508 Sequence B INPOSDET CAEV//INTR Requirement 1.3 Change in definition of Corporate Action Event code INTR (Interest Payment) in field with qualifier CAEV in sequences B Intra Position Details. INTR Interest Payment Regular interest Interest payment distributed to holders of an interest bearing asset. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT508 Sequence B INPOSDET CAEV//NOOF Requirement 1.4 Change in definition of Corporate Action Event code NOOF (Non-Official Offer) in field with qualifier CAEV in sequences B Intra Position Details. NOOF Non-Official Offer Offers that are not supervised or regulated by an official entity and being offered by a party, for example a broker, usually at a discount price, for example broker offer, mini-tender, mini odd lot offer or third party offer. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

6 MT508 Sequence B INPOSDET CAEV//RHDI Requirement 1.5 Change in definition of Corporate Action Event code RHDI (Intermediate Securities Distribution) in field with qualifier CAEV in sequences B Intra Position Details. RHDI Intermediate Securities Distribution The distribution of intermediate securities or privilege that gives the holder the right to take part in a future event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT508 Sequence B INPOSDET CAEV//RHTS Requirement 1.6 Change in definition of Corporate Action Event code RHTS (Rights Issue / Subscription Rights / Rights Offer) in field with qualifier CAEV in sequences B Intra Position Details. RHTS Rights Issue / Subscription Rights / Rights Offer Distribution Offer to holders of a security or privilege that gives the holder an entitlement or right to take part in a future to subscribe for additional securities via the distribution of an intermediate security. Both processes are included in the same event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

7 For Statement Messages: MT536 MT537 Sequence B1a2 Sequence B2b Sequence C2 94a Place TRAD Usage Rules Requirement 1.7 Change in definition of the Usage Rules for the Place of Trade field 94B TRAD in sequence B Trade Details (MT536) and Sequence B2b / C2 Transaction Details (MT537) Usage Rules When Place Code is OTCO, Narrative, if present, must specify the system. When Place Code is EXCH, Narrative, if present, must specify the Market Identifier Code (MIC). A cross-exchange netted transaction is to be identified by the combination of Various (Place field :94B::TRAD//VARI) and Netting ( field :::SETR//NETT). Should be of no impact to clients. When the Place of Trade code EXCH is used, Citi expects clients to populate the MIC of the exchange and this will continue to be the case. When the Place of Trade code is OTCO, Citi will continue to process the field in line with what is instructed today and will play back the information on statement messages as we do today

8 MT536 MT537 MT538 Sequence B1a2 Sequence B2b Sequence C2 Sequence B2a INPOS CAEV//CONS Requirement 1.8 Change in definition of Corporate Action Event code CONS (Consent) in field with qualifier CAEV in sequences B1a2 Transaction Details (MT536), B2b / C2 Transaction Details (MT537) and B2a Intra Position Details (MT538). CONS Consent Procedure that aims to obtain consent of holder to a proposal by the issuer or a third party. This procedure is not required to be linked to the organisation of a formal meeting without convening a meeting. For example, consent to change the terms of a bond. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT536 MT537 MT538 Sequence B1a2 Sequence B2b Sequence C2 Sequence B2a INPOS CAEV//INTR Requirement 1.9 Change in definition of Corporate Action Event code INTR (Interest Payment) in field with qualifier CAEV in sequences B1a2 Transaction Details (MT536), B2b and C2 Transaction Details (MT537) and B2a Intra Position Details (MT538). INTR Interest Payment Regular interest Interest payment distributed to holders of an interest bearing asset. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

9 MT536 MT537 MT538 Sequence B1a2 Sequence B2b Sequence C2 Sequence B2a INPOS CAEV//NOOF Requirement 1.10 Change in definition of Corporate Action Event code NOOF (Non-Official Offer) in field with qualifier CAEV in sequences B1a2 Transaction Details (MT536), B2b and C2 Transaction Details (MT537) and B2a Intra Position Details (MT538). NOOF Non-Official Offer Offers that are not supervised or regulated by an official entity and being offered by a party, for example a broker, usually at a discount price, for example broker offer, mini-tender, mini odd lot offer or third party offer. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT536 MT537 MT538 Sequence B1a2 Sequence B2b Sequence C2 Sequence B2a INPOS CAEV//RHDI Requirement 1.11 Change in definition of Corporate Action Event code RHDI (Intermediate Securities Distribution) in field with qualifier CAEV in sequences 1a2 Transaction Details (MT536), B2b and C2 Transaction Details (MT537) and B2a Intra Position Details (MT538). RHDI Intermediate Securities Distribution The distribution of intermediate securities or privilege that gives the holder the right to take part in a future event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

10 MT536 MT537 MT538 Sequence B1a2 Sequence B2b Sequence C2 Sequence B2a INPOS CAEV//RHTS Requirement 1.12 Change in definition of Corporate Action Event code RHTS (Rights Issue / Subscription Rights / Rights Offer) in field with qualifier CAEV in sequences B Intra Position Details. RHTS Rights Issue / Subscription Rights / Rights Offer Distribution Offer to holders of a security or privilege that gives the holder an entitlement or right to take part in a future to subscribe for additional securities via the distribution of an intermediate security. Both processes are included in the same event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

11 For Corporate Action Messages: MT565 MT567 MT568 Sequence A GENL CAEV//BMET Requirement 1.13 (To be Confirmed) Addition of new Corporate Action Event Type code BMET (Bond Holder Meeting) in field with qualifier CAEV in sequence A General Information. BMET Bond Holder Meeting Physical meeting of bond holders. As this is an addition to the standard, the implementation of this in Citi is still to be confirmed. Further information around implementation will be provided in due course MT565 MT567 MT568 Sequence A GENL CAEV//CONS Requirement 1.14 Change in definition of Corporate Action Event code CONS (Consent) in field with qualifier CAEV in sequence A General Information. CONS Consent Procedure that aims to obtain consent of holder to a proposal by the issuer or a third party intended to progress an event to the next stage. This procedure is not required to be linked to the organisation of a formal without convening a meeting. For example, consent to approve a plan of reorganisation for a bankruptcy proceeding change the terms of a bond. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

12 MT565 MT567 MT568 Sequence A GENL CAEV//INTR Requirement 1.15 Change in definition of Corporate Action Event code INTR (Interest Payment) in field with qualifier CAEV in sequence A General Information. INTR Interest Payment Regular interest Interest payment distributed to holders of an interest bearing asset. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT565 MT567 MT568 Sequence A GENL CAEV//NOOF Requirement 1.16 Change in definition of Corporate Action Event code NOOF (Non-Official Offer) in field with qualifier CAEV in sequence A General Information. NOOF Non-Official Offer Offers that are not supervised or regulated by an official entity and being offered by a party, for example a broker, usually at a discount price, for example broker offer, mini-tender, mini odd lot offer or third party offer. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

13 MT565 MT567 MT568 Sequence A GENL CAEV//RHDI Requirement 1.17 Change in definition of Corporate Action Event code RHDI (Intermediate Securities Distribution) in field with qualifier CAEV in sequence A General Information. RHDI Intermediate Securities Distribution The distribution of intermediate securities or privilege that gives the holder the right to take part in a future event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition MT565 MT567 MT568 Sequence A GENL CAEV//RHTS Requirement 1.18 Change in definition of Corporate Action Event code RHTS (Rights Issue / Subscription Rights / Rights Offer) in field with qualifier CAEV in sequence A General Information (addition shown in red bold, removed text shown in green strike through) RHTS Rights Issue / Subscription Rights / Rights Offer Distribution Offer to holders of a security or privilege that gives the holder an entitlement or right to take part in a future to subscribe for additional securities via the distribution of an intermediate security. Both processes are included in the same event. Should be of no impact to clients. Change in definition only that Citi will comply with and clients should note the change in definition

14 Sequence A GENL 25D Processing Status PROC//INFO Requirement 1.19 Deletion of code INFO For Info Only in field 25D with qualifier PROC Processing Status in sequence A General Information. INFO For Info Only The message is for information only, that is processing of client's instruction will not be supported by the Account Servicer. Clients will no longer see code INFO used in the Processing Status field Sequence C INTSEC DISF//RDUP Requirement 1.20 Change in definition of code RDUP Round Up in field with qualifier DISF Disposition of Fractions in sequence C Intermediate Securities. RDUP Round Up Round up to next full unit/minimum nominal quantity at no cost. Clients should note the change in definition of the code RDUP which Citi may apply where applicable

15 Sequence C INTSEC DISF//STAN Requirement 1.21 Change in definition of code STAN Standard in field with qualifier DISF Disposition of Fractions in sequence C Intermediate Securities. STAN Standard If the fraction is greater than or equal to 0.5 of the resulting security then round up, else round down as specified in the respective RDUP and RDDN codes. Clients should note the change in definition of the code STAN which Citi may apply where applicable Sequence D Sequence C 92a Rate Network Validation Rule Requirement 1.22 Update to the definition of the Network Validation Rules for field 92a Rate in sequence D / C Corporate Action Details. NETWORK VALIDATED RULES The integer part of Rate and Index Points must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). The integer part of Amount must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). When Sign is present, Rate must not be zero (Error code(s): T14). Currency Code, must be valid ISO 4217 currency codes (Error code(s): T52). Clients should take note of the definition change. Citi will be in compliance with the additions to the Network Validation Rules of the field where applicable

16 Sequence D Sequence C 90a Price Network Validation Rule Usage Rule Requirement 1.23 Update to the definition of the Network Validation Rules for field 92a Rate in sequence D / C Corporate Action Details. NETWORK VALIDATED RULES The integer part of Price and Index Points must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). Currency Code must be a valid ISO 4217 currency code (Error code(s): T52). When sign is present, Index Points must not be zero (Error code(s): T14). USAGE RULES The number of decimal digits in Price is not validated against the currency specified. Sign must be present when Index Points is negative. Clients should take note of the definition change. Citi will be in compliance with the additions to the Network Validation Rules and Usage Rules of the field where applicable

17 Sequence D Sequence C Usage Rules Requirement 1.24 Change in definition of the Usage Rules in field in sequence D / C Corporate Action Details. USAGE RULES An Eligible Balance Notification (:23G:REPE) shall be considered as a preadvice only when ::ADDB//CAPA is present. The Offer Type Mini-Tender (:::OFFE//MINI) may only be used for an Odd Lot Sale/Purchase event (:::CAEV//ODLT). Clients should take note of the definition change. Citi will be in compliance with the changes to the Usage Rules of the field where applicable. See also requirement 1.28 Sequence D Sequence C DIVI//REIN Requirement 1.25 Change in definition of code REIN Reinvestment in field with qualifier DIVI Dividend Type in sequence D / C Corporate Action Details. REIN Reinvestment Automatic Reinvestment of Cash distributed by accumulating funds. Clients should note the change in definition of the code REIN which Citi may apply where applicable

18 Sequence D Sequence C DITY Requirement 1.26 Change in definition of qualifier DITY Occurrence Type in field of sequence D / C Corporate Action Details. DITY Occurrence Type Specifies the conditions in which the instructions and/or payment of the proceeds occurs. Clients should note the change in definition of the qualifier DITY which Citi may apply where applicable Sequence D Sequence C DITY//ROLL Requirement 1.27 Change in definition of code ROLL Rolling in field with qualifier DITY Occurrence Type in sequence D / C Corporate Action Details. ROLL Rolling Event is ongoing and will have a number of acceptance and payment dates until further announcement by the Issuer or its agent. Clients should note the change in definition of the code ROLL which Citi may apply where applicable

19 Sequence D Sequence C OFFE//MINI Requirement 1.28 Deletion of code MINI Mini-Tender in field with qualifier OFFE Offer Type in sequence D / C Corporate Action Details. MINI Mini Tender Tender offer for a security that is priced below the current trading price of that instrument. Clients will no longer see code MINI used in the Offer Type field. See also requirement 1.24 Sequence D ESTA//FULL Requirement 1.29 Change in definition of code FULL Cancellation and Re-Run in field with qualifier ESTA Corporate Action Event Stage in sequence D Corporate Action Details. FULL Cancellation and Re-Run An original or supplemental lottery is being reversed.cancellation and re-run of an original lottery or an original and supplemental lottery. A subsequent lottery will be performed under a new event. Clients should note the change in definition of the code FULL which Citi may apply where applicable

20 Sequence D ESTA//PART Requirement 1.30 Change in definition of code PART Supplemental Cancellation and Re-Run in field with qualifier ESTA Corporate Action Event Stage in sequence D Corporate Action Details. PART Supplemental Cancellation and Re-Run Original call amount is reduced by the agent. The original announcement is cancelled and a new original lottery is issued Cancellation and re-run of a supplemental lottery only. A subsequent new supplemental lottery will be performed under the original event. Clients should note the change in definition of the code FULL which Citi may apply where applicable Sequence D ESTA//RESC Requirement 1.31 Change in definition of code RESC Supplemental Cancellation in field with qualifier ESTA Corporate Action Event Stage in sequence D Corporate Action Details. RESC Supplemental Cancellation Original and or A supplemental lottery details have changed and the lottery is being cancelled by the issuer. No subsequent lottery will be performed. Clients should note the change in definition of the code RESC which Citi may apply where applicable

21 Sequence D Sequence C RHDI//INTR Requirement 1.32 Change in definition of code INTR Interest Payment in field with qualifier RHDI Intermediate Securities Distribution Type in sequence D / C Corporate Action Details. INTR Interest Payment Regular interest Interest payment distributed to holders of an interest bearing asset. Clients should note the change in definition of the code INTR which Citi may apply where applicable Sequence E CAOPTN Usage Rules Requirement 1.33 Change in definition of the Usage Rules in field in sequence E Corporate Action Options. USAGE RULES When used, the corporate action option code PRUN should be maintained throughout the full lifecycle of the event. The Offer Type Mini-Tender (:::OFFE//MINI) may only be used for an Odd Lot Sale/Purchase event (:::CAEV//ODLT). Clients should take note of the definition change. Citi will be in compliance with the changes to the Usage Rules of the field where applicable. See also requirement 1.36

22 Sequence E CAOPTN Sequence D CACONF DISF//RDUP Requirement 1.34 Change in definition of code RDUP Round Up in field with qualifier DISF Disposition of Fractions. RDUP Round Up Round up to next full unit/minimum nominal quantity at no cost. Clients should note the change in definition of the code RDUP which Citi may apply where applicable Sequence E CAOPTN Sequence D CACONF DISF//STAN Requirement 1.35 Change in definition of code STAN Standard in field with qualifier DISF Disposition of Fractions. STAN Standard If the fraction is greater than or equal to 0.5 of the resulting security then round up, else round down as specified in the respective RDUP and RDDN codes. Clients should note the change in definition of the code STAN which Citi may apply where applicable

23 Sequence E CAOPTN OFFE//MINI Requirement 1.36 Deletion of code MINI Mini-Tender in field with qualifier OFFE Offer Type in sequence D Corporate Action Details. MINI Mini Tender Tender offer for a security that is priced below the current trading price of that instrument. Clients will no longer see code MINI used in the Offer Type field. See also requirement 1.33

24 Sequence E CAOPTN Sequence D CACONF 92R Rate TAXR WITF BWIT FTCA NRAT Requirement 1.37 Addition of new Rate format option R to qualifiers TAXR (Tax Related Rate) and WITF (Withholding of Foreign Tax Rate). The format is :4!c/[8c]/4!c/15d (Qualifier)(Data Source Scheme)(Rate Type Code)(Rate) Addition of new Rate Type Codes for format option 92R with qualifiers TAXR and WITF. The codes added are: CODES BWIT Back Up Withholding Withholding tax related to payments subject to Back up Withholding. FTCA FATCA Tax Withholding Tax related to income subject to FATCA (Foreign Account Tax Compliance Act). NRAT NRA Tax Withholding tax related to income subject NRA (Non Resident Alien) Change in multiplicity of field 92a with qualifiers TAXR and WITF. The multiplicity has change from being option to a maximum of occurrences to being optional with an unlimited amount of occurrences MULTIPLICITY [0..1*] The new format option R and all three Rate Type Codes will be used where applicable in the US. Only FTCA will be used elsewhere, when applicable. The Rates will appear in the CASHMOVE sequence (see requirement 1.42) when applicable to the Cash Movement

25 Sequence E1 SECMOVE Sequence D1 SECMOVE DISF//RDUP Requirement 1.38 Change in definition of code RDUP Round Up in field with qualifier DISF Disposition of Fractions in sequence E1 / D1 Securities Movement. RDUP Round Up Round up to next full unit/minimum nominal quantity at no cost. Clients should note the change in definition of the code RDUP which Citi may apply where applicable Sequence E1 SECMOVE Sequence D1 SECMOVE DISF//STAN Requirement 1.39 Change in definition of code STAN Standard in field with qualifier DISF Disposition of Fractions in sequence E1 / D1 Securities Movement. STAN Standard If the fraction is greater than or equal to 0.5 of the resulting security then round up, else round down as specified in the respective RDUP and RDDN codes. Clients should note the change in definition of the code STAN which Citi may apply where applicable

26 Sequence E1 SECMOVE Sequence D1 SECMOVE 92a Rate TRAX Requirement 1.40 Addition of new Rate qualifier TRAX (Financial Transaction Tax Rate) in field 92a Rate in sequence E1 / D1 Securities Movement. The definition is TRAX Financial Transaction Tax Rate Rate of financial transaction tax. The format options allowed are 92A :4!c//[N]15d (Qualifier)(Sign)(Rate) 92K :4!c//4!c (Qualifier)(Rate Type Code) The Rate Type Code with format option 92K is CODE UKWN Unknown Rate is unknown by the sender or has not been established The field is optional and only one occurrence of the qualifier is allowed if used. MULTIPLICITY [0..1] New Rate qualifier TRAX will be used to reflect the rate of Financial Transaction Tax (FTT) when applicable in an event

27 Sequence E2 CASHMOVE Sequence D2 CASHMOVE 19B Amount FTCA NRAT BWIT TXIN TRAX Requirement 1.41 Addition of new Amount qualifiers FTCA (FATCA Tax Amount), NRAT (NRA Tax Amount), BWIT (Back Up Withholding Tax Amount), TXIN (Tax on Income Amount) and TRAX (Transaction Tax) in field 19B Amount in sequence E2 / D2 Cash Movement. The definitions are FCTA FATCA Tax Amount FATCA (Foreign Account Tax Compliance Act) related tax amount NRAT NRA Tax Amount Amount of tax related income subject to NRA (Non Resident Alien) BWIT Back Up Withholding Tax Amount Amount of tax related to back up withholding TXIN Tax on Income Amount Amount of overall tax withheld at source by fund managers prior to considering the tax obligation of each unit holder. TRAX Transaction Tax Amount of transaction tax The new Amount qualifiers will be used where applicable in the US. Only FTCA and TRAX will be used elsewhere, when applicable to the event and in line with the equivalent Rates being populated.

28 Sequence E2 CASHMOVE Sequence D2 CASHMOVE 92R Rate TAXR WITF WITL BWIT FTCA NRAT Requirement 1.42 Addition of new Rate format option R to qualifiers TAXR (Tax Related Rate), WITF (Withholding of Foreign Tax Rate) and WITL (Withholding of Local Tax) in sequence E2 / D2 Cash Movement. The format is :4!c/[8c]/4!c/15d (Qualifier)(Data Source Scheme)(Rate Type Code)(Rate) Addition of new Rate Type Codes for format option 92R with qualifiers TAXR, WITF and WITL. The codes added are: CODES BWIT Back Up Withholding Withholding tax related to payments subject to Back up Withholding. FTCA FATCA Tax Withholding Tax related to income subject to FATCA (Foreign Account Tax Compliance Act). NRAT NRA Tax Withholding tax related to income subject NRA (Non Resident Alien) Change in multiplicity of field 92a with qualifiers TAXR, WITF and WITL. The multiplicity has change from being option to a maximum of occurrences to being optional with an unlimited amount of occurrences MULTIPLICITY [0..1*] The new format option R and all three Rate Type Codes will be used where applicable in the US. Only FTCA will be used elsewhere, when applicable.

29 Sequence E2 CASHMOVE Sequence D2 CASHMOVE 90a Price Network Validation Rule Requirement 1.43 Update to the definition of the Network Validation Rules for field 92a Rate in sequence E2 / D2 Cash Movement. NETWORK VALIDATED RULES The integer part of Price, Amount, Quantity and Index Points must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40, T43). Currency Code must be a valid ISO 4217 currency code (Error code(s): T52). When sign is present, Index Points must not be zero (Error code(s): T14). Clients should take note of the definition change. Citi will be in compliance with the additions to the Network Validation Rules of the field where applicable Sequence D CACONF 94B Place Usage Rule Requirement 1.44 Update to the definition of the Usage Rule for field 94B Place in sequence D Corporate Action Confirmation. USAGE RULES When Place Code is OTCO, Narrative, if present, must specify the system, for example, OTCO/TELEKURS. When Place Code is EXCH, Narrative, if present, must specify the Market Identifier Code (MIC), for example, EXCH/XNYS for the New York Stock Exchange. Clients should take note of the definition change. Citi will be in compliance with the additions to the Usage Rules of the field where applicable

30 Sequence C ETYP Requirement 1.45 Deletion of qualifier ETYP Type of Exemption from field in sequence D Corporate Action Details. ETYP Type of Exemption Specifies the basis for the reduced rate of withholding Clients should take note of the deletion of the qualifier from this sequence. Citi will be in compliance with the deletion. See also requirement 1.42 MT567 Sequence A2a REAS 24B Reason PACK//ADEA PACK//LATE Requirement 1.46 Deletion of Reason Codes ADEA (Account Servicer Deadline Missed) and LATE (Market Deadline Missed) from qualifier PACK Accepted Reason from field 24B Reason in sequence A2a Reason. ADEA Account Servicer Deadline Missed Received after the account servicer's deadline. Processed on best effort basis LATE Market Deadline Missed Instruction was received after market deadline. Clients should take note of the deletion of the codes from this qualifier. Citi will be in compliance with the deletion and clients will no longer see codes ADEA and LATE used with qualifier PACK.

31 IRS Circular 230 Disclosure: Citigroup Inc. and its affiliates do not provide tax or legal advice. Any discussion of tax matters in these materials (i) is not intended or written to be used, and cannot be used or relied upon, by you for the purpose of avoiding any tax penalties and (ii) may have been written in connection with the "promotion or marketing" of any transaction contemplated hereby ("Transaction"). Accordingly, you should seek advice based on your particular circumstances from an independent tax advisor. In any instance where distribution of this communication is subject to the rules of the US Commodity Futures Trading Commission ( CFTC ), this communication constitutes an invitation to consider entering into a derivatives transaction under U.S. CFTC Regulations 1.71 and , where applicable, but is not a binding offer to buy/sell any financial instrument. 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Citi and Citi and Arc Design are trademarks and service marks of Citigroup Inc. or its affiliates and are used and registered throughout the world. Citi believes that sustainability is good business practice. We work closely with our clients, peer financial institutions, NGOs and other partners to finance solutions to climate change, develop industry standards, reduce our own environmental footprint, and engage with stakeholders to advance shared learning and solutions. Highlights of Citi s unique role in promoting sustainability include: (a) releasing in 2007 a Climate Change Position Statement, the first US financial institution to do so; (b) targeting $50 billion over 10 years to address global climate change: includes significant increases in investment and financing of renewable energy, clean technology, and other carbon-emission reduction activities; (c) committing to an absolute reduction in GHG emissions of all Citi owned and leased properties around the world by 10% by 2011; (d) purchasing more than 234,000 MWh of carbon neutral power for our operations over the last three years; (e) establishing in 2008 the Carbon Principles; a framework for banks and their U.S. power clients to evaluate and address carbon risks in the financing of electric power projects; (f) producing equity research related to climate issues that helps to inform investors on risks and opportunities associated with the issue; and (g) engaging with a broad range of stakeholders on the issue of climate change to help advance understanding and solutions. Citi works with its clients in greenhouse gas intensive industries to evaluate emerging risks from climate change and, where appropriate, to mitigate those risks. efficiency, renewable energy & mitigation