ISO currency codes and Insolvency: Difference between pages

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ISO currency codes are identifiers for currencies made up of three alphabetic characters as specified in ISO 4217 issued by the International Organization for Standardization (ISO). The ISO 4217 codes were updated in 2015.
1.


The first two characters generally refer to countries and the third character normally specifies the particular currency or type of funds.
Inability to pay financial obligations as they fall due.




Used within SWIFT (Society for Worldwide Interbank Financial Telecommunications) messages, ISO currency codes are often referred to as SWIFT codes.
2. ''UK law''.


The inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations.


Examples of ISO currency codes (SWIFT codes) are USD for United States dollar and CHF for the Swiss franc.
In making this assessment, future income and future asset valuations are also taken into account.


For the Swiss franc (CHF) the 'CH' part refers to the Swiss Confederation, standing for Confoederatio Helvetica, its Latin name.


The country identifiers are taken in turn from ISO 3166.
== See also ==
* [[Balance sheet insolvent]]
* [[Bankruptcy]]
* [[Cash flow insolvent]]
* [[Chapter 11]]
* [[Company voluntary arrangement]]
* [[Corporate Insolvency and Governance Act]]
* [[Cost of financial distress]]
* [[Creditors]]
* [[Individual Voluntary Arrangement]]
* [[Insolvency Act]]
* [[Insolvency costs]]
* [[Insolvency practitioner]]
* [[Insolvency Service]]
* [[Liquidity]]
* [[London Approach]]
* [[Scheme of arrangement]]
* [[Solvency]]
* [[Solvency II]]
* [[Statement of affairs]]
* [[Voluntary liquidation]]


 
[[Category:Long_term_funding]]
ISO 4217 also provides numeric codes for currencies for use in countries that do not use the Roman alphabet.
[[Category:Compliance_and_audit]]
 
[[Category:Manage_risks]]
For example, the numeric code for the US dollar is 840 and the Swiss franc is 756.
[[Category:Treasury_operations_infrastructure]]
 
The full list of codes is available at http://www.currency-iso.org/en/home/tables/table-a1.html.
 
 
==See also==
* [[CNY]]
* [[euro zone]]
* [[ISO]]
* [[MYR]]
* [[Society for Worldwide Interbank Financial Telecommunications]]  
 
 
===Other links===
* International Organization for Standardization - http://www.iso.org/iso/home.htm

Revision as of 08:43, 4 May 2022

1.

Inability to pay financial obligations as they fall due.


2. UK law.

The inability of a company - on a balance of probabilities - to meet all of its existing, prospective and contingent liabilities, taking account of future costs and of future interest obligations.

In making this assessment, future income and future asset valuations are also taken into account.


See also

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