| Field | Meaning | Required |
|---|---|---|
:20: | A unique reference assigned by the sending bank for this statement message. It identifies the statement for tracking and duplicate detection. The customer uses | M |
:21: | The related reference linking this statement to a prior request or agreement, when the statement was sent on request. It helps the customer match the statement | O |
:25: | The account the statement covers, identified by account number with the account owner name. It tells the customer system which ledger account to reconcile. A st | M |
:28C: | The statement number and sequence number that identify this statement in a series. They let the customer detect a missing or duplicate statement. The numbers mu | M |
:60F: | The opening balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the closing balance of the pr | M |
:60M: | An additional opening balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first opening balance. | O |
:61: | One entry in the statement, representing a single debit or credit with value date, entry date, amount, funds code and narrative. A statement can hold many entri | O |
:86: | Supplementary details for a statement line, giving extra information such as the end to end reference or a narrative description. It can carry the beneficiary n | O |
:62F: | The closing balance of the account for the statement period, with the credit or debit mark, value date, currency and amount. It is the opening balance plus all | M |
:62M: | An additional closing balance when the statement covers an intraday period or a balance was corrected. It carries the same format as the first closing balance. | O |
:64: | A forward available balance showing funds expected to be available on a future date, with the credit or debit mark, date, currency and amount. It helps the cust | O |
:65: | A forward available balance for a later date, with the same format as the first available balance. It shows the expected balance after future dated entries are | O |
Meridian Bank sends an MT940 to a corporate customer for account 77012345 covering 5 November 2026, opening balance EUR 120,000.00, with 14 entries including a credit of EUR 48,250.00 for a supplier receipt. The closing balance is EUR 168,250.00, the control totals agree, and the customer reconciles every entry to its ledger.
Valid example from the message catalogue. Scheme rules: MT940 follows the SWIFT statement rules and remains widely used for customer account reporting, even where ISO 20022 reporting is available. Many banks still send MT940 daily because corporate reconci
MT940 Balances: F60a Opening Balance, F62a Closing Balance (Booked Funds), F64 Closing Available Balance (Available Funds), F65 Forward Available Balance
What you will learn
Your objective. By the end of this lesson, you will be able to explain MT940 balances: f60a opening balance, f62a closing balance (booked funds), f64 closing available balance (available funds), f65 forward available balance. Field 60a, the opening balance, is the balance of the account at the start of the statement period, before any of the transactions in this statement are applied.
Why it matters. If the previous closing balance was EUR 480,000 and this opening balance is EUR 475,000, the statement is broken before a single transaction is read, and the bank must be asked to correct it.
Chapter objective: Learner explains MT940 and MT950 statements, MT910 confirmations, and how opening, closing booked, closing available and forward balances are calculated. Learner uses real examples with amounts, banks and message names to show how the topic works in practice.
Key learning points
- Field 60a
- Field 62a
- Field 62a: closing booked balance
- Field 64
- Field 65 for 3
- Discipline: to quote field name
Key terms
Reconciliation: The process of comparing records from two sources, such as a bank statement and an internal ledger, to confirm they agree.
Clearing: The process of exchanging payment instructions between banks and calculating what each bank owes the others.
MT940: A SWIFT message that provides a customer statement, listing all entries posted to an account over a period, with opening and closing balances.
SWIFT MT message viewer showing MT940 Balances: F60a Opening Balance, F62a Closing Balance (Booked Funds), F64 Closing Available Balance (Available Funds), F65 Forward Available Balance.
Practise this lesson
Exercise
Apply the concept in this lesson to a real banking scenario.
Use the definition, the example and the key points in this lesson.
- What to do. Explain the concept in your own words, give a banking example with an amount, and state what goes wrong if it is misunderstood.
Correct result. A correct answer names the concept accurately, uses a realistic banking example with a concrete amount, and identifies the consequence of getting it wrong.
Why. Understanding is not memorising a definition. It is being able to explain it, apply it, and spot the failure it prevents.
Check your understanding
Practice question
Which of the following best describes MT940 balances: f60a opening balance, f62a closing balance (booked funds), f64 closing available balance (available funds), f65 forward available balance?
Takeaway and next step
What to remember
The discipline is to quote the field name with the number, every time, and never to say the balance without saying which balance.
Open the message type from this lesson and inspect its fields, then find the field that carries the amount.
Open the ISO 20022 Message Explorer →
Builds on "MT950 Statement Message in Detail".
Transcript and full text
Show transcript
Field 60a, the opening balance, is the balance of the account at the start of the statement period, before any of the transactions in this statement are applied. It carries a debit or credit mark, a date, a currency and an amount. In our example the opening balance is EUR 480,000 credit on 1 November 2026, written as F60a C 261101 EUR 480,000. That figure must equal the closing balance of the previous statement, and the first reconciliation check on any MT940 is to confirm that match. If the previous closing balance was EUR 480,000 and this opening balance is EUR 475,000, the statement is broken before a single transaction is read, and the bank must be asked to correct it. Field 62a, the closing balance, is the booked balance at the end of the statement period, after all transactions in the statement are applied to the opening balance. Booked means the balance as recorded on the ledger, including every credit and debit that has been posted, whether or not the funds are yet available to spend. The formula is opening balance plus all credits in the statement minus all debits in the statement. In our example the credits are EUR 250,000 and EUR 75,000, a total of EUR 325,000, and the debits are EUR 180,000, EUR 45,000 and EUR 12,500, a total of EUR 237,500. The calculation is EUR 480,000 plus EUR 325,000 minus EUR 237,500, which equals EUR 567,500 credit. That is Field 62a. Field 64, the closing available balance, is the amount the customer can actually use at the end of the statement period, after deducting funds that are booked but not yet available. The most common reason for a difference is a cheque or a payment that has been credited to the ledger but is still subject to a clearing hold, or a debit that has been authorised but not yet posted. The formula is closing booked balance minus unavailable funds plus any available funds not yet booked, though in practice it is usually closing booked balance minus holds. In our example a cheque for EUR 20,000 was deposited and booked, but it will not clear until 3 November, so the available balance is EUR 567,500 minus EUR 20,000, which equals EUR 547,500 credit. That is Field 64. Field 65, the forward available balance, is the available balance expected on a future date, after applying transactions that are already known and value dated for that future date. It carries a date, a currency, an amount and a debit or credit mark, and a statement may carry more than one Field 65 for different future dates. The formula is closing available balance plus future dated credits minus future dated debits for that date. In our example, for 3 November 2026, a known incoming payment of EUR 100,000 and a known outgoing standing order of EUR 30,000 are value dated. The calculation is EUR 547,500 plus EUR 100,000 minus EUR 30,000, which equals EUR 617,500 credit. That is Field 65 for 3 November 2026, and it is the figure the treasurer uses for the cash forecast. The four balances together give a complete picture of the account, and each one answers a different question. Field 60a answers where did we start, EUR 480,000. Field 62a answers where did the ledger end, EUR 567,500 booked. Field 64 answers what can we spend now, EUR 547,500 available. Field 65 answers what will we be able to spend on 3 November, EUR 617,500 forward available. A treasurer who confuses booked with available may release a EUR 560,000 payment that the ledger seems to cover but the available funds do not, and the payment will fail or overdraw the account. The discipline is to quote the field name with the number, every time, and never to say the balance without saying which balance.
Field 60a, the opening balance, is the balance of the account at the start of the statement period, before any of the transactions in this statement are applied. It carries a debit or credit mark, a date, a currency and an amount. In our example the opening balance is EUR 480,000 credit on 1 November 2026, written as F60a C 261101 EUR 480,000. That figure must equal the closing balance of the previous statement, and the first reconciliation check on any MT940 is to confirm that match. If the previous closing balance was EUR 480,000 and this opening balance is EUR 475,000, the statement is broken before a single transaction is read, and the bank must be asked to correct it.
Field 62a, the closing balance, is the booked balance at the end of the statement period, after all transactions in the statement are applied to the opening balance. Booked means the balance as recorded on the ledger, including every credit and debit that has been posted, whether or not the funds are yet available to spend. The formula is opening balance plus all credits in the statement minus all debits in the statement. In our example the credits are EUR 250,000 and EUR 75,000, a total of EUR 325,000, and the debits are EUR 180,000, EUR 45,000 and EUR 12,500, a total of EUR 237,500. The calculation is EUR 480,000 plus EUR 325,000 minus EUR 237,500, which equals EUR 567,500 credit. That is Field 62a.
Field 64, the closing available balance, is the amount the customer can actually use at the end of the statement period, after deducting funds that are booked but not yet available. The most common reason for a difference is a cheque or a payment that has been credited to the ledger but is still subject to a clearing hold, or a debit that has been authorised but not yet posted. The formula is closing booked balance minus unavailable funds plus any available funds not yet booked, though in practice it is usually closing booked balance minus holds. In our example a cheque for EUR 20,000 was deposited and booked, but it will not clear until 3 November, so the available balance is EUR 567,500 minus EUR 20,000, which equals EUR 547,500 credit. That is Field 64.
Field 65, the forward available balance, is the available balance expected on a future date, after applying transactions that are already known and value dated for that future date. It carries a date, a currency, an amount and a debit or credit mark, and a statement may carry more than one Field 65 for different future dates. The formula is closing available balance plus future dated credits minus future dated debits for that date. In our example, for 3 November 2026, a known incoming payment of EUR 100,000 and a known outgoing standing order of EUR 30,000 are value dated. The calculation is EUR 547,500 plus EUR 100,000 minus EUR 30,000, which equals EUR 617,500 credit. That is Field 65 for 3 November 2026, and it is the figure the treasurer uses for the cash forecast.
The four balances together give a complete picture of the account, and each one answers a different question. Field 60a answers where did we start, EUR 480,000. Field 62a answers where did the ledger end, EUR 567,500 booked. Field 64 answers what can we spend now, EUR 547,500 available. Field 65 answers what will we be able to spend on 3 November, EUR 617,500 forward available. A treasurer who confuses booked with available may release a EUR 560,000 payment that the ledger seems to cover but the available funds do not, and the payment will fail or overdraw the account. The discipline is to quote the field name with the number, every time, and never to say the balance without saying which balance.
Full lesson text (all scenes)
Completing a lesson updates your progress dashboard on the homepage.
Scene timestamps are estimated by allocating the narration text proportionally across the real audio length. The audio playback position is the source of truth: pause freezes the visual, seeking restores the correct scene, replay restarts the scene animation.