ISO 4217 or banking. At the 17th session (February 1978), the related UN/ECE Group of Experts agreed that the three-letter alphabetic codes for International Standard ISO 4217, "Codes for the representation of currencies and funds", would be suitable for use in international trade. Over time, new currencies are created and old currencies are discontinued. Frequently, these changes are due to the formation of new governments, treaties between countries standardizing on a shared currency, or revaluation of an existing currency due to excessive inflation. As a result, the list of codes must be updated from time to time. The ISO 4217 maintenance agency
ISO/TC 68 Where appropriate, national standards setting bodies can propose existing national standards to ISO/TC 68 to become adopted as international standards with the approval of ISO/TC 68 and ISO. These standards must be submitted as New Work Items by three or more member countries of ISO/TC 68. In the late 1940s, members of the financial industry came together under the International Organization for Standardization (ISO) to begin developing technical standards for the banking industry to use on a world-wide basis. The original name of the organization working on banking standards was Technical Committee 68, or TC 68-Banking. Over time the scope