Featured Product

    EBA Publishes Regulatory Standards on Home-Host Cooperation Under PSD2

    July 31, 2018

    EBA published its final draft regulatory technical standards specifying the framework for cooperation and the exchange of information between competent authorities under the revised Payment Services Directive (PSD2). This regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

    Additionally, the standards clarify the type of information as well as the templates to be used by payment institutions when reporting to the competent authorities of the host member states on the payment business activities carried out in their territories. These regulatory technical standards also set out the periodical reporting requirements, divided into two sets of information, which host competent authorities can request from payment institutions operating in their territories via agents or branches. The reporting requirements define the data breakdown, reporting periods, frequency, and reporting deadlines. This periodical reporting provides the host competent authority with a better understanding of the payments market in the host member state and helps the host competent authority monitor compliance with the provisions of national law transposing the PSD2.

    The proposed cooperation framework ensures consistent and efficient supervision of payment institutions operating across borders by specifying the procedure for the requests and replies for cooperation and exchange of information between competent authorities, including single contact points, language, standardized forms, and timelines. These standards help consumers use payments services with confidence across the EU, as they ensure consistent and efficient supervision of payment institutions operating across borders.

     

    Related Links

    Effective Date: OJ + 20 Days

    Keywords: Europe, EU, PMI, Banking, Regulatory Technical Standards, Home-Host Cooperation, Reporting, PSD 2, EBA

    Featured Experts
    Related Articles
    News

    EBA Proposes Guidelines for Establishing Intermediate Parent Entities

    EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.

    January 15, 2021 WebPage Regulatory News
    News

    EC Adopts Financial Reporting Changes Arising from Benchmark Reforms

    EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.

    January 14, 2021 WebPage Regulatory News
    News

    BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk

    BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.

    January 14, 2021 WebPage Regulatory News
    News

    HMT Updates List of Post-Brexit Equivalence Decisions in UK

    HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.

    January 14, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Technical Package on Reporting Framework 3.0

    EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.

    January 14, 2021 WebPage Regulatory News
    News

    APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets

    APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.

    January 14, 2021 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for Third Quarter of 2020

    EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.

    January 13, 2021 WebPage Regulatory News
    News

    ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro

    ECB concluded the public consultation on the introduction of a digital euro in EU.

    January 13, 2021 WebPage Regulatory News
    News

    ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro

    ECB concluded the public consultation on the introduction of a digital euro in EU.

    January 13, 2021 WebPage Regulatory News
    News

    ECB Finalizes Guide on Supervisory Approach to Bank Consolidation

    ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.

    January 12, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6432