CFONB
Standing Committee on Bank Organization
The Standing Committee on Bank Organization was set up in 1930 as a not-for-profit organization, under the French 1901 Act. This changed its name in 1945 to the Committee for Technical Bank Studies and Standardization, and then to French Committee for Bank Organization and Standardization (CFONB) in 1979.
From its inception in 1930, it was approved as a standards-setting body by AFNOR (the French standards-setting agency). This status was confirmed in 1984 under Decree 84-74 of January 26, 1984 as part of the reform of standards-setting procedures introduced on that date.
From the beginning, representatives of the banking industry have formulated technical specifications and rules governing transactions regularly exchanged between banks through the CFONB and its predecessors. It is thus now the main focal point for all members of the financial community to devise and define most of the technical reforms needed to modernize payments systems, securities clearing systems and electronic data exchanges.
