ECB PUBLIC Questions and Answers Question: Multi addressee - Is the use of the RTGS directory mandatory? Shall every RTGS account holder be obliged to check the RTGS directory in order to verify if the BAH Addressee BIC is the actual direct account holder and in case of need retrieve the direct account holder from the RTGS directory? In correspondent banking it is usual to inform the respective correspondent to be used (e.g. based on standing settlement instructions). In case the correspondent is a multi-addressee in RTGS, is there the need to also know the direct account holder in order to make a valid payment in RTGS? Example: bank A sends an instruction to bank B to credit bank C.
(C = multi addressee) Bank A could be in Japan and bank B is a T2/RTGS participant. Bank A will instruct bank B to credit bank C. Bank B will use bank C in the BAH => Is there the need to mention also the direct account holder as instructed agent? 6 www.ecb.europa.eu ©