Fri. Nov 27th, 2020

Planet Compliance

Innovation & Regulation in Finance

EBA consults on cooperation and exchange of information for passporting under PSD2

2 min read

The European Banking Authority (EBA) launched today a consultation on its draft technical standards on the framework for cooperation and exchange of information between competent authorities for passporting under Article 28(5) of the revised Payment Services Directive (PSD2). The technical standards will ensure that information about those payment institutions that carry out business in one or more EU Member States is exchanged consistently between the national authorities of the home and host Member States. The consultation runs until 11 March 2016.

These draft RTS proposed in this Consultation paper set out a harmonised framework aimed at providing clarity to payment institutions about regulatory requirements and, in so doing, at fostering the cross-border provision of payment services in the EU internal market.

These draft requirements specify in particular the information that national supervisors will have to exchange with one another. In so doing, the RTS distinguishes the notifications related to branch establishments, agent’s engagement and free provision of services. Some specific features that the notifications shall have in terms of format, transmission channel and language are also defined in the RTS.

Next steps
Responses to this Consultation Paper can be sent to the EBA until 11 March 2016, by clicking on the “send your comments” button on the website. The EBA will assess the responses received before finalising the RTS, which it will publish in the summer of 2016.

Link to EBA statement and consultation paper


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