International Wire & FX Payments (SWIFT) — impact tolerance ≤ 4 hours — ITOL

Impact tolerance: ≤ 4 hours — during SWIFT operating hours and FX market hours. Any inability to release value-dated payments before cut-off is a breach. Loss of gpi tracking/confirmation with payments still flowing is a degradation, measured against the same-day use-of-funds standard (illustrative default — trace the derivation, then replace with your own harm analysis)

Definition: Originate and receive cross-border wire transfers over SWIFT, the global interbank messaging network (MT / ISO 20022 MX). Includes FX conversion embedded in payment settlement, correspondent-banking routing, and OFAC (Office of Foreign Assets Control) sanctions screening. Also includes SWIFT gpi payment tracking, confirmation of credit, and the same-day use-of-funds standard. SWIFT gpi is a service feature of the correspondent rail — losing it degrades this service rather than constituting a separate one. Distinct from FX Spot & Forward Trading (`fx-trading`, Wealth & Treasury), which covers principal trade execution on the dealing desk. This service covers the cross-border payment rail that consumes those FX rates.

Why it is designated: Cross-border payments have hard value-date and correspondent cut-offs. Extended outage risks failed settlement, principal/FX exposure, and reputational damage with correspondents. SWIFT's Customer Security Programme (CSP) mandates continuous availability and integrity controls on messaging infrastructure.