Complex sentence: Any adoption of the IBAN standard by US banks would likely be initiated by ANSI ASC X9, the US financial services standards development organization: a working group (WGAB20) was established as an X9 subcommittee to generate an IBAN construction for US Bank accounts.
Split into simpler sentences: Any adoption of the IBAN standard by US banks would likely be initiated by ANSI ASC X9, the US financial services standards development organization. Indeed, a Working Group (WGAB20) was established as an X9 subcommittee to generate an IBAN construction for US Bank accounts.