The European Banking Authority (EBA) has published a final report on 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, under Article 15(4) of the revised Payment Services Directive (PSD2); and
  • implementing technical standards (ITS) on the details and structure of the information entered by competent authorities in their public registers and notified to the EBA under Article 15(5) of the PSD2.

The final report follows an earlier EBA consultation, which we blogged this summer (here).

In light of the feedback received to the consultation the EBA has decided to slightly amend the functionalities of the application of the electronic central register which would now allow:

  • Member State competent authorities (NCAs) to provide information to the EBA more frequently than once a day, where appropriate;
  • the register itself to process and validate automatically transmitted information as soon as possible but at the latest by the end of the day on which it is received; and
  • public users to download the content of the register, both manually and automatically.

The EBA also reconfirms its decision not to include credit institutions in the electronic central register. This is on the basis that the mandate under Article 15(5) of the PSD2 requires the EBA to develop a register based on a pre-defined list of institutions, in which, however, credit institutions are not included. The EBA has, however, introduced additional information on the dates of authorisation or registration, the service provided in the host Member State and the commercial names used by payment and electronic money institutions.

The EBA will only be able to carry out the development of the electronic central register once the European Commission has adopted the draft RTS and ITS. In light of this the electronic central register will not be in place on 13 January 2018, it will be in place later next year.

View EBA final draft RTS and ITS on EBA electronic central register under PSD2, 13 December 2017