ISBP – what’s next?


As previously mentioned and as announced at the Plenary Meeting in Paris on 20 October 2022, the Banking Commission SteerCo, in response to feedback from National Committees, established a Working Group in order to initiate a limited review of ISBP 745. 


The aim was to evaluate all ICC Opinions approved since the release of ISBP 745 and ensure that ISBP 745 is fully aligned with their content.


It was noted that the ISBP 745 was approved by ICC National Committees in 2013, and the reviewed Opinions were approved by ICC National Committees between October 2013 and January 2023. Therefore, this review merely ensured alignment between previously approved texts.


The review has now been completed and 9 Opinions were recognised as containing content that would be meaningful for addition within ISBP.


An update meeting was held during the most recent ICC Banking Commission meeting on 19 April 2023, and it was announced that the new version of ISBP will be published over the coming weeks.


In addition, ICC National Committees have been invited to provide comment on potential next steps.


Suggestions include:

  1. No further work
  2. Full review of the newly aligned ISBP text retaining the scope as "examination of documents" only
  3. Scope of ISBP to be extended beyond the "examination of documents" to other areas such as issuance, advising, confirmation, amendment, honour, etc.
  4. Drafting of separate, independent, guidance publication(s) covering issuance, advising, confirmation, amendment, honour, etc., with ISBP still focusing on the "examination of documents"


We will keep you appraised as to which steps are taken.



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