EBA launched a consultation on the draft guidelines on reporting requirements on statistical data on fraud under the revised Payment Services Directive (PSD2). The guidelines define the meaning of “fraudulent payment transactions” for the purpose of the data reporting (under these particular guidelines). They also include periodic reporting requirements on payment transactions and fraudulent payment transactions and set out the methodology for collating and reporting data, including data breakdown, reporting periods, frequency, and reporting deadlines. The consultation runs until November 03, 2017.
The first part of the guidelines sets out requirements applicable to all payment service providers, except account information service providers. The second part introduces requirements that are applicable to all competent authorities in the EU. Payment service providers are expected to provide high-level data on a quarterly basis and more detailed data on a yearly basis. The guidelines, which are in accordance with Article 96(6) of Directive 2014/65/EU (PSD2), were developed in close cooperation with ECB to ensure that the high-level fraud reporting requirements are implemented consistently among member states and that the aggregated data provided by competent authorities to EBA and ECB are comparable and reliable. The guidelines aim to contribute to the objective of PSD2 to increase the security of retail payments in the EU.
Comment Due Date: November 03, 2017
Keywords: Europe, EU, PSD2, Reporting Requirements, EBA, Banking, Payments and Markets Infrastructure
Previous ArticleEBA Guidance to Authorities and Institutions on Brexit Relocations
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.