# ISO 9362: what the BIC revision changed

> How ISO 9362 redefined the BIC (party prefix and suffix, connectivity as a directory attribute) and what Swift says about codes ending in 1 after 2018.

- Canonical URL: https://swiftcodelookup.com/iso-9362-revision/
- Source: [Swift, Information paper: ISO 9362 BIC implementation, changes and impact](https://www.swift.com/swift-resource/9586/download)
- Checked: 2026-10-22
- Structured data: https://swiftcodelookup.com/data/iso-9362-revision.json

## The standard and the registry

The BIC is defined in ISO 9362, and Swift is the registration authority appointed by ISO to allocate and issue BICs ([Swift FAQ](https://www.swift.com/swift-resource/252025/download)). Swift's information paper describes the revision from the 2009 edition to the 2014 edition, approved by ISO in January 2014 (the paper's timeline graphic says December 2013) ([Swift](https://www.swift.com/swift-resource/9586/download)).

## What changed in the names

| Old term | New term | What Swift says |
|---|---|---|
| Institution code (1-4) | Party prefix | 4 alphanumeric characters; Swift still issues only alphabetic prefixes; no mnemonic meaning |
| Location code (7-8) | Party suffix | 2 alphanumeric characters with no specific meaning; location and time zone move to directory attributes |
| Country code (5-6) | Unchanged | Also published as directory attributes |
| Branch code (9-11) | Branch identifier, optional | A branch now needs a described organisational unit and operational address in the data record |

The format stays 8 characters plus an optional 3-character branch code ([Swift](https://www.swift.com/swift-resource/9586/download)). The current BIC policy of 20 January 2023 uses the revised words ([Swift policy](https://www2.swift.com/knowledgecentre/rest/v1/publications/bic_policy/3.0/bic_policy.pdf)).

## Position 8 and the digit 1

Under the old scheme, a 1 in position 8 meant the code was not connected to SwiftNet FIN. The information paper says the revision removed the network meaning: connectivity moved to a directory attribute, and Swift stopped issuing BICs ending in 1 when the transition ended in November 2018. Existing BICs were not modified ([Swift](https://www.swift.com/swift-resource/9586/download)). The 2023 policy still gives an 8-character BIC with 1 in the eighth position as the example of a non-connected BIC ([Swift policy](https://www2.swift.com/knowledgecentre/rest/v1/publications/bic_policy/3.0/bic_policy.pdf)).

What this means for you: a BIC ending in 1 can be a valid older code. Do not guess from the characters whether a bank is connected; the directory says so. See [non-connected BICs](https://swiftcodelookup.com/non-connected-bic/).

## Other points from the paper

- Each BIC record has mandatory reference attributes such as legal name, registered address and a financial or non-financial status. The owner is responsible for accuracy and should confirm it at least once a year.
- Records are marked expired rather than deleted.
- Systems should not derive ownership, location or time zone from the characters of the prefix or suffix.
- Test and Training BICs still end in 0.

## What we have not read

The current BIC directory itself. See [sources](https://swiftcodelookup.com/sources/).

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