if the second character is '1', then it denotes a passive participant in the SWIFT network.if the second character is '0', then it is typically a test BIC as opposed to a BIC used on the live network.2 letters: ISO 3166-1 alpha-2 country code.4 letters: Institution Code or bank code.The SWIFT code / BIC code is made up of 8 or 11 characters, broken down as follows:
