As mentioned in a separate blog, the recent ICC Banking Commission meeting held in Paris in October 2022, finished with a report on possible ICC Rules revisions.
The outcome was that a small Working Group would review all ICC Opinions approved since the release of ISBP 745 and ascertain whether or not any updates to ISBP 745 are required.
It is intended that this review will take a maximum of six months, with an interim report of findings to the ICC Banking Commission during the next meeting in April 2023.
At that stage, a decision will be made on next steps, which may include a wider revision of ISBP 745 or the development of a supplementary guidance product, if required.
In the meantime, ICC members will be invited to join the Drafting Group.
We will keep you appraised of developments.