On 31 July 2024, the European Banking Authority (EBA) issued a public consultation on draft Implementing Technical Standards (ITS) for uniform reporting templates in relation to the level of charges for credit transfers and share of rejected transactions under the Single Euro Payments Area (SEPA) Regulation.
On 19 March 2024, the Instant Payments Regulation amending, inter alia, the SEPA Regulation was published in the Official Journal of the European Union.
A new Article 15(5) of the SEPA Regulation provides that “The EBA shall develop draft implementing technical standards to specify uniform reporting templates, instructions and methodology on how to use those reporting templates for the purposes of reporting as referred to in paragraph 3.”
In the consultation paper the EBA proposes to fulfil the mandate in Article 15(5) of developing the templates, instructions and methodologies for the collection of the information to be submitted from payment service providers (PSPs) to Member State competent authorities, with the ultimate aim of informing a report that the European Commission (Commission) must provide to the European Parliament and the Council per new Article 15(2) of the SEPA Regulation.
In the draft ITS, the EBA is proposing that PSPs report the level of charges for regular credit transfers and instant credit transfers with breakdowns by type of transfer (domestic or cross-border), type of payment service users, type of payment initiation channels, and the party subject to the charge. The EBA is also proposing that PSPs report charges for payment accounts, as well as the share of instant transfers, both domestic and cross-border, that were rejected due to the application of EU-wide restrictive measures.
Next steps
An online public hearing on the technical standards for uniform reporting under the SEPA Regulation will take place on 9 October 2024 from 10:00 to 11:30 CET. The deadline for registration is 7 October 16:00 CET.
The deadline for comments is 31 October 2024.
After the consultation, the EBA will submit the final draft ITS to the Commission, which is expected to take place by the end of 2024.