Description of BusinessActivities This section presents the different BusinessActivities within each BusinessProcess. The BusinessActivities of a process are described with activity diagrams. Legend Symbol Name Definition Start Point where the lifecycle of the business process commences. End Point Shows where the lifecycle of the business process may ends. Lozenge (or diamond) Indicates that a choice between several actions can be made. Bar Indicates that several actions are initiated in parallel. Credit Transfer The agents in this activity diagram are called PaymentClearingAgent and PaymentSettlementAgent in generic terms. In more concrete examples, these will be replaced by the most relevant agents, for example, debtor agent, creditor agent and intermediary agent. Step Description Initiator Prepare onward interbank The PaymentClearingAgent prepares the outgoing PaymentClearingAgent A payment payment instruction and selects the next PaymentClearingAgent and/or the clearing channel through which the payment instruction will be cleared and/or settled. Send payment The PaymentClearingAgent sends out the PaymentClearingAgent A payment instruction to the selected channel/PaymentClearingAgent. Assess reject reason code The PaymentClearingAgent assesses the reject PaymentClearingAgent A reason code provided by the rejecting PaymentClearingAgent. Repair payment order The PaymentClearingAgent PaymentClearingAgent A reformats/supplements the original payment order for re-submission to the appropriate clearing channel/PaymentClearingAgent. Recycle payment The PaymentClearingAgent recycles the rejected PaymentClearingAgent A payment order. Recycling can be by downgrading the STP level under which the payment order can be cleared and settled, or selecting another channel for clearing and settling the payment. Receive payment order The PaymentClearingAgent acknowledges receipt PaymentClearingAgent B of the payment (technical) and proceeds to next step.
Description of BusinessActivities This section presents the different BusinessActivities within each BusinessProcess. The BusinessActivities of a process are described with activity diagrams. Legend Symbol Name Definition Start Point where the lifecycle of the business process commences. End Point Shows where the lifecycle of the business process may ends. Lozenge (or diamond) Indicates that a choice between several actions can be made. Bar Indicates that several actions are initiated in parallel. Credit Transfer The agents in this activity diagram are called PaymentClearingAgent and PaymentSettlementAgent in generic terms. In more concrete examples, these will be replaced by the most relevant agents, for example, debtor agent, creditor agent and intermediary agent. Step Description Initiator Prepare onward interbank payment The PaymentClearingAgent prepares the outgoing payment instruction and selects the next PaymentClearingAgent and/or the clearing channel through which the payment instruction will be cleared and/or settled. PaymentClearingAgent A Send payment The PaymentClearingAgent sends out the payment instruction to the selected channel/PaymentClearingAgent. PaymentClearingAgent A Assess reject reason code The PaymentClearingAgent assesses the reject reason code provided by the rejecting PaymentClearingAgent. PaymentClearingAgent A Repair payment order The PaymentClearingAgent reformats/supplements the original payment order for re-submission to the appropriate clearing channel/PaymentClearingAgent. PaymentClearingAgent A Recycle payment The PaymentClearingAgent recycles the rejected payment order. Recycling can be by downgrading the STP level under which the payment order can be cleared and settled, or selecting another channel for clearing and settling the payment. PaymentClearingAgent A Receive payment order The PaymentClearingAgent acknowledges receipt of the payment (technical) and proceeds to next step. PaymentClearingAgent B