The European Banking Authority (EBA) has published a consultation paper on draft regulatory technical standards (RTS) on the framework for cooperation and exchange of information between competent authorities for passport notification under the revised Payment Services Directive (PSD2).

Under Article 28 PSD2, authorised payment institutions that wish to provide payment services for the first time in one or more Member States, other than their home Member State, need to inform their home Member State competent authority. To that end, Article 28(5) PSD2 mandates the EBA to develop these draft RTS, specifying the method, means and details of cross-border cooperation between Member State competent authorities in the context of passport notifications of payment institutions, as well as the scope of information to be submitted, a common terminology and standard templates.

The deadline for comments on the consultation paper is 11 March 2016. The EBA expects to publish the final RTS in the summer of 2016.

View EBA consults on cooperation and exchange of information for passporting under PSD2, 11 December 2015