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/IEC JTC 1/SC 17/WG 1 Sub-Committee 17 administered standards. ISO/IEC JTC 1/SC 17/WG 1 ISO/IEC JTC 1/SC 17/WG 1 is a working group within ISO/IEC JTC1 of the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), that facilitates standards development within the field of cards and personal identification. A national delegation of experts from various countries meet in person at WG1 to discuss and debate items detailed in a meeting agenda until a consensus is reached. These items include: draft standards, draft test methods, questions from the industry, proposals for new work items or other aspects relating to the Standards and Test