New Fedwire Cover Message: The 6 tags you must map correctly.

The "CTRCOV" is no more.

The 2011 Fedwire update contains a brand new cover payment message format. "Brand new" as in "the old format will be rejected."

If you have not prepared in any other way, here are the 6 tags you must map correctly in your AML system.

1. {3600} = CTP
2. {3610} = COVS
3. {7050} = Originating Party
4. Originating Bank tag hierarchy {7052}, else {5100} else {3100}
5. Beneficiary Bank tag hierarchy {7057}, else {4100}, else {3400}
6. {7059} = Beneficiary Party.