EBA published the final draft regulatory and implementing technical standards on the EBA electronic central register under the Payment Services Directive (PSD2). The regulatory technical standards specify the procedures that the competent authorities should follow when providing information to EBA and those that apply to EBA when processing and publishing that information.
The regulatory standards set out requirements for manual and automated provision of information from the competent authorities to EBA and the timely synchronization between the national public registers under the PSD2 and the EBA Register. They also specify the procedure for accessing the information in the EBA Register, which includes the functionality for downloading its content. This, in turn, allows market participants to automatically search and retrieve the information needed. The implementing technical standards specify the information that will be made available on the EBA Register from a pre-defined list of institutions that is provided by the PSD2, including:
- Payment and electronic money institutions, their agents, and foreign branches
- Exempted payment and electronic money institutions and their agents
- Account information service providers, their agents, and foreign branches
- Providers of services based on specific payment instrument that can be used only in a limited way
- Providers of electronic communication networks executing payment transactions or providing services in addition to electronic communications services
The final draft regulatory and implementing technical standards will be submitted to EC for adoption. Following the submission, the regulatory standards will be subject to scrutiny by the European Parliament and the Council, before being published in the Official Journal of the European Union. EBA will be able to develop the EBA Register only after the adoption of the draft regulatory and implementing technical standards. Therefore, EBA will not be able to have the EBA Register in place at the date of application of PSD2, which is January 13, 2018; it will be in place only later in the year.
Keywords: Europe, EU, Banking, PMI, PSD2, Regulatory Technical Standards, Implementing Technical Standards, EBA Register, EBA
Previous ArticleEU and US to Sign Bilateral Agreement on Insurance and Reinsurance
FED adopted a proposal to extend for three years, with revision, the capital assessments and stress testing reports (FR Y-14A/Q/M; OMB No. 7100-0341).
PRA published updates in relation to the 2021 Supervisory Benchmarking Portfolio exercise.
HKMA revised the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.
MAS published the guidelines on individual accountability and conduct at financial institutions.
APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.
SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.
FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.