The payment for the Receiving Country, when transformed by the AFAQ Service, contains the opposite exchange rate and the two currency amounts in the opposite order. The Receiving Direct Participant, for checking of correct calculation of amounts, should use the original exchange rate used by the Sending Direct Participant (or Sending Domestic RTGS system).
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The AFAQ Service cc will process the transaction as per the following:
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| 1) | Payments from countries using the CSM
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| | a. | Payment Message in the Sending Currency of countries using the CSM:
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| | | i. | DR: Settlement Account of the Sending Direct Participant;
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| | | ii. | CR: Shadow Account of the NCB of the Receiving Country;
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| | b. | Payment Message in the Receiving Currency:
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| | | i. | DR: Shadow Account of the NCB of countries using the CSM,
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| | | ii. | CR: Control (Technical) Account of the NCB of the Receiving Country
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| 2) | Payment to countries using the CSM
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| | a. | Payment Message in the Sending Currency:
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| | | i. | DR: Control (Technical) Account of the NCB of the Sending Country,
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| | | ii. | CR: Shadow Account of the NCB of the countries using the CSM.
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| | b. | Payment Message in the Receiving Currency of countries using the CSM:
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| | | i. | DR: Shadow Account of the NCB of the sending country,
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| | | ii. | CR: Settlement Account of the Receiving Direct Participant (in the countries using the CSM).
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In all cases the entries of both payment messages are posted simultaneously.
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If the payment cannot be processed by the AFAQ Service cc for any of the reasons listed under Reasons for Rejection in APPX (2), a rejection message will be sent back to the Sending RPG. The Sending RPG will generate a return payment and send it to the Sending the Direct Participant stating the reason for rejection.
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A returned payment message must not be resent with the same Unique Message Reference as the original one. It may, after correction of the reason(s) for rejection, be sent as a new payment by the Sending Direct Participant with a different Unique Message Reference, but UETR can be the same.
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