Changes to SWIFT Category 7 messages for guarantees and standby letters of credit that had been scheduled to take effect in November 2019 have been deferred to November 2020.
As announced by SWIFT on 8 February, the decision follows country voting by User Group Chairpersons in December 2018 and SWIFT Banking Services Committee’s ratification of the voting results in January 2019 which overwhelming supported deferral of Standards Release (SR) 2019 for Category 7 (Guarantees / Standby Letters of Credit) messages to SR 2020.
For more information, see SWIFT Release highlights at: https://lnkd.in/gbiqrAQ