The EPC publishes updated rulebook versions for all its SEPA payment schemes: the SEPA Credit Transfer (SCT), SEPA Instant Credit Transfer (SCT Inst), SEPA Direct Debit Core (SDD Core) and SEPA Direct Debit Business-to-Business (SDD B2B) schemes.
These updated versions all replace the previous 2017 versions of all rulebooks, that were to take effect on 19 November (for the SCT, SDD Core and SDD B2B rulebooks) or 21 November 2017 (for the SCT Inst rulebook).
This update of rulebook versions has no operational impact. Small changes were made in each rulebook in order they reflect regulatory changes stemming from the guide for the assessment of the SEPA payment schemes against the oversight standards of the Eurosystem.
The changes implemented in the updated 2017 rulebooks however impact the rights and obligations of scheme participants and the Scheme Management Internal Rules (SMIRs).
Each scheme participant is obliged to comply with ‘generic supervisory requirements’ applicable to them, in addition to the existing obligation to comply with applicable rules and regulations. The term ‘generic’ is to be understood as referring to supervisory requirements that apply to all payment service providers (PSPs) concerned and not to those requirements that are addressed by supervisory authorities to one specific PSP only as such individually relevant supervisory requirements would not be public. Consequently, the compliance with the latter could not be enforced by the EPC.
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