The EBA launched a public consultation on draft RTS specifying the framework for cooperation and the exchange of information between competent authorities under the revised PSD2. The RTS also clarify the type of information as well as the templates to be used by payment institutions when reporting to the competent authorities.
One of the aims of PSD2 is to enhance cooperation between competent authorities in the home and host Member States when a payment institution would like to provide payment services in a Member State other than its home Member State.
The proposed cooperation framework ensures consistent and efficient supervision of payment institutions operating across borders by specifying the procedure for the requests and replies for cooperation and exchange of information between competent authorities, including single contact points, language, standardised forms and timelines.
These regulatory technical standards (RTS) also set out the periodical reporting requirements, divided into two sets of information, which host competent authorities can request from payment institutions operating in their territories via agents or branches.
The reporting requirements define the data breakdown, reporting periods, frequency and reporting deadlines. This periodical reporting provides the host competent authority with a better understanding of the payments market in the host Member State and helps the host competent authority monitor compliance with the provisions of national law transposing the PSD2.
Responses to this consultation can be sent to the EBA by 5 January 2018.
Press release
Consultation paper
© EBA
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