434. Considering a currency non-deliverable forward (NDF) with the following setup:

- Banks A and B enter in a BRL/USD NDF instrument on 1 June 2018

- notional of the contract: 1,000,000 BRL;

- maturity date of the contract: 31 December 2018;

- settlement date of the contract: 2 January 2019;

- the forward is cash-settled because of its non-deliverable nature;

- Bank A delivers or receives the difference (according to its sign) in USD between the spot and the forward at the settlement date;

- USD is populated in Settlement Currency 1;

- the forward exchange rate is 0.29 BRL/USD.

435. In the case of forwards related to currencies, the counterparty 1 should identify itself as either the payer or the receiver for leg 1 (BRL in this example). Given that in this example the reporting counterparty would receive the difference in case of increase in the BRL value (decrease in the exchange rate), it is identified as the receiver of leg 1.

436. Price is not populated as the price information is considered to be included in the forward exchange rate field.

437. Given that there is just one settlement currency, it should be always populated as settlement currency 1.