The Swift organization issues the Bank Identifier Numbers or BIC. Why has a BIC Code sometimes 8-digits and sometimes 11-digits ? These 'BIC12's are not part of the ISO standard, and are only relevant in the context of the messaging platform. The regulator has also recently noted that some firms are incorrectly populating their counterparty and customer or client identification fields when reporting principal trades. The overlapping issue between ISO 9362 and ISO 13616 is discussed in the article International Bank Account Number (also called IBAN).

CountryCityBank NameBranchSWIFT
Australia Sydney Challenger Financial Services Group Limited Challenger Financial Services Group Limited CFSGAU21XXX
 
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