Limited review of ISBP 745
At the recent meeting in the ICC Banking Commission, it was agreed to initiate a limited review of ISBP 745.
According to the ICC, the aim is to review all ICC Opinions approved since the release of ISBP 745 (2013) and ascertain whether any updates to the ISBP are required. This review will take a maximum of six months. At the ICC Banking Commission March-April 2023 the interim findings will be reported.
Following that, the next steps will be decided. This could (again acoring to the ICC) include a wider revision of ISBP 745 or the development of a supplementary guidance product (if required).
For the limited review of the ISBP, a Drafting Group will be established. The group will consist of a maximum of eight members. The existing core TA team will take up four of this number.
National Committees are invited to send their nomination (limited to one per National Committee) to the ICC.
The limited review of the ISBP will commence in December 2022.
I strongly support this initiative and are happy to see that the ICC take care of the LC.
Kind regards
Kim