ICC Banking Commission meeting July 2023
This week the ICC Banking Commission held its third meeting during 2023.
There were different items on the agenda. Below some of the information shared at the meeting.
ICC Draft Opinions
ICC Draft opinion TA927rev2 was again on the agenda. As already reported the ICC National Committees (NC) were given 3 choices as to the fate of this Opinion. In total, 22 NCs provided a view:
* 9 NC’s voted to approve the Draft Opinion as is
* 2 NC’s voted to approve the Draft Opinion with comments
* 11 NC’s voted to withdraw the Draft Opinion
In addition, it was reported that the requestor of the query has decided to withdraw it. Hence the Opinion is withdrawn – and will be considered for future ISBP updates.
Banking Commission Meetings
Next meeting in the ICC Banking Commission will be 24/25 October. It will be a Technical Meeting. There is already 3 new Draft Opinions to be discussed. The deadline for receipt of new queries is 15 August 2023.
The meeting will (again) be hybrid meeting; online and at the ICC HQ in Paris.
Technical Advisory Briefings
24 NCs are now involved in the TA Briefings team. There still is a call for new members. Those should be nominated via their respective NC.
7 Briefings have now been published. The latest is “Title of Invoice”.
The team is now working on number 8 “handling of certificates”.
Number 9 is in the pipeline. It is covering direct presentations to the issuing bank (i.e., presentations bypassing the nominated bank).
All Technical Advisory Briefings are available on ICC Digital Library free of charge here.
Updates to eRules and ISBP
eUCP 2.1 and eURC 1.1 was published 29 June 2023.
ISBP 821 was published 3 July and is available both as an e-book and a printed book.
ISBP 821 – Next steps
Following the publication of ISBP 821, the NCs were given four options in respect of the future of the ISBP. The views from the 22 NCs that have commented are as follows:
* 6 NCs voted for no further work
* 6 NCs voted for retaining the scope – but to initiate a full review
* 8 NCs voted for an extension beyond examination
* 2 NCs voted to draft separate independent guidance publications
It was noted that this is not a strong mandate, and this will be discussed with the SteerCo aiming for a decision at the 2023 October meeting.
Technical Advisor process
Terms Of Reference (TOR) covering the work of the ICC Technical Advisors has been reviewed by the SteerCo and shared to NCs. Two new seats will be added to the group.
The call for nominations closed 9 July. The candidates will be reviewed by the SteerCo who will revert.
Other issues
Guidance papers on Dual Use Goods and Price Checking has been published:
For the Trade register the process is ongoing. Expected published around September.
The Commercialization Guidance Paper (covering e-mail presentations) has been published. Link to the document.
The rules for APIs on guarantees will be published early August.
For the eUCP,the directory is still a work in progress.
That’s it and that’s all.
Kind regards
Kim