Article 15(1) of the revised Payment Services Directive (PSD2) mandates the European Banking Authority (EBA) to develop, operate and maintain an electronic central register that contains information as notified by competent authorities (CAs). The PSD2 also confers a mandate on the EBA to develop draft regulatory technical standards (RTS) setting technical requirements on development, operation and maintenance of the electronic central register and on access to the information contained therein. Article 15(5) of the PSD2 also mandates the EBA to develop draft implementing technical standards (ITS) on the details and structure of the information pursuant to Article 15(1) of the PSD2.
The EBA has now published a consultation paper on draft RTS under Article 15(4) of the PSD2 and draft ITS under Article 15(5) of the PSD2.
In fulfilment of the mandate under Article 15(4), the RTS proposed set out requirements in relation to:
- access to the EBA register by the various users of the register;
- the provision of information by CAs to the EBA and the validation of that information;
- the safety, availability and performance of the EBA register;
- the responsibilities of the EBA related to the management and maintenance of the EBA register; and
- the search of information in the EBA register and the display of the search results.
The draft ITS cover information about payment and electronic money institutions, exempted payment and electronic money institutions, account information service providers, agents, branches established in a host member state, the institutions referred to in points (4) and (23) of Article 2(5) of the Capital Requirements Directive IV and certain service providers that carry out the activities referred to in points (k)(i) and (k)(ii) and point (I) of Article 3 of the PSD2. The ITS also specify the precise information that CAs need to insert into the EBA register for each of these service providers as well as the format.
The deadline for comments on the consultation paper is 19 September 2017. The final draft RTS and ITS will be published after the end of the consultation period.