The SEPA payment schemes, as set out in the SEPA Credit Transfer and SEPA Direct Debit Rulebooks, evolve based on a transparent change management process adhered to by the EPC. Suggestions for changes should be submitted by 28 February, 2014.
This evolution reflects changes in market needs and updates of technical standards developed by international standards bodies, such as the International Organisation for Standardisation.
The next generation rulebooks (SCT Rulebook version 8.0, SDD Core Rulebook version 8.0 and SDD Business to Business Rulebook version 6.0) and associated implementation guidelines will be published in November 2014. These rulebook versions will then take effect in November 2015.
The scheme change management process provides all stakeholders with the opportunity to participate; i.e. to introduce suggestions for changes to the schemes. All interested parties are invited to submit suggestions for changes proposed to be incorporated into the next version of the SCT and SDD Rulebooks by 28 February 2014. Any suggestions for rulebook changes can be sent to the EPC prior to this date and will be taken into consideration for the November 2015 release.
The SCT and SDD Schemes have to comply with the technical requirements detailed in Article 5 and in the Annex to Regulation (EU) No 260/2012, also known as the SEPA Regulation. Article 13 of the SEPA Regulation empowers the European Commission (the Commission) to amend the technical requirements set out in the Annex to the Regulation through delegated acts (see also Article 14).
The EPC has stressed that any future changes to the SEPA Schemes mandated by the Commission should be based on adequate market consultation and reflect broad consensus among all stakeholders. The timelines for such amendments determined by the Commission to take effect should be aligned with the timelines governing the SCT and SDD Rulebook release schedule and the investment cycles of market participants. To date, the Commission has not made publicly available information around whether it plans to amend the technical requirements set out in the Annex to the SEPA Regulation, and if so, when this might happen.
It remains the EPC’s objective to ensure that the SCT and SDD Rulebooks evolve in response to proven market needs, based on a predictable release schedule. The EPC must, however, clarify that moving forward, the EPC may be required to adapt the rulebook release schedule at short notice to ensure compliance with technical requirements set out in the Annex to the SEPA Regulation as amended by the Commission.
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