Featured Product

    EBA Publishes Final Guidelines on Fraud Reporting Under PSD2

    July 18, 2018

    EBA published the final report on the guidelines on fraud reporting under the revised Payment Services Directive (PSD2). In addition to the guidelines, the final report contains a table summarizing the responses received to the consultation, the EBA analysis of the responses received, and the resulting changes to the guidelines. The guidelines are addressed to payment service providers and competent authorities in EU.

    The guidelines require payment service providers across the 28 EU member states to collect and report data on payment transactions and fraudulent payment transactions using a consistent methodology, definitions, and data breakdowns. Having assessed the responses received to the consultation paper it had published in August 2017, EBA decided to make a number of changes to the guidelines and related annexes. The final guidelines no longer require quarterly reporting of high-level data and a more detailed set of data on a yearly basis, but the reporting of a uniform set of data on a semi-annual basis instead. 

    Additionally, the geographical scope of the data has been reduced in size and complexity compared to the draft guidelines that had been proposed in the consultation paper; this is because the guidelines no longer require country-by-country data breakdowns and there is now a uniform geographical breakdown (instead of three different ones). Moreover, fraudulent transactions where the payer is the fraudster are no longer within the scope of the guidelines. Furthermore, jointly with ECB, EBA has made further efforts to align the guidelines with related reporting requirements, in particular with the ECB Regulation on payment statistics (ECB/2013/43). 

     

    Related Links

    Keywords: Europe, EU, Banking, PSD 2, Guidelines, Fraud Reporting, PMI, ECB, EBA

    Related Articles
    News

    APRA Issues Operational Risk Rules, Consults on Reporting Requirements

    APRA published an updated prudential standard APS 115 that sets out operational risk requirements for authorized deposit-taking institutions in Australia.

    December 11, 2019 WebPage Regulatory News
    News

    APRA Decides to Keep Countercyclical Capital Buffer for Banks at 0%

    APRA announced its decision to keep the countercyclical capital buffer (CCyB) for authorized deposit-taking institutions on hold at zero percent.

    December 11, 2019 WebPage Regulatory News
    News

    EBA Issues Revised List of Validation Rules for Reporting by Banks

    EBA published a revised list of validation rules in its implementing technical standards on supervisory reporting.

    December 10, 2019 WebPage Regulatory News
    News

    SRB Holds Annual Conference, Reflects on Turning Policy into Action

    SRB published a report on its fourth annual conference that was held on October 10, 2019 in Brussels.

    December 10, 2019 WebPage Regulatory News
    News

    FED Extends Consultation Period for Capital Requirements for Insurers

    FED is extending comment period for the proposed rule establishing risk-based capital requirements for depository institution holding companies that are significantly engaged in insurance activities.

    December 10, 2019 WebPage Regulatory News
    News

    OSFI Sets Domestic Stability Buffer Level at 2.25%

    OSFI has set the Domestic Stability Buffer, or DSB, at 2.25% of total risk-weighted assets, with effect from April 30, 2020.

    December 10, 2019 WebPage Regulatory News
    News

    FSB Examines Financial Stability Aspects of Bigtech and Cloud Services

    FSB published two reports that consider the financial stability implications from the offering of financial services by bigtech firms and the adoption of cloud computing and data services across a range of functions at financial institutions.

    December 09, 2019 WebPage Regulatory News
    News

    HKMA Proposes Changes to Module on Supervision of Concentration Risk

    HKMA issued a circular proposing revisions to the Supervisory Policy Manual module CR-L-1 on consolidated supervision of concentration risks under the Banking (Exposure Limits) Rules (BELR) Rule 6.

    December 09, 2019 WebPage Regulatory News
    News

    BoE Updates XBRL Filing Manual for Reporting Under Solvency II

    BoE has updated the XBRL filing manual (to Version 5.0) to help firms and software vendors create XBRL instance documents for Solvency II Pillar 3 and BoE Insurance reporting.

    December 09, 2019 WebPage Regulatory News
    News

    APRA Specifies Capital Treatment of Equity Investments in ABGF

    APRA published a letter to the authorized deposit-taking institutions outlining the regulatory capital treatment of their equity investments in the Australian Business Growth Fund (ABGF).

    December 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4301