The Commission published its latest Payments Newsletter. On the revision of the cross-border payments Regulation, the proposed changes and the first, tentative wording of the possible amendment will be discussed in early March 2008. The results of the impact assessment, currently being prepared by the Commission, will determine the final form and scope of the amendments to the Regulation. The proposal of the amended Regulation could be presented to the European Parliament and to the Council in October 2008.
The Commission services are currently conducting an impact assessment on the E-Money Directive. This analysis covers the scope of the EMD, the definition of electronic money as well as the prudential regime, which should be brought more in line with the risk-based approach of the PSD. It equally covers the application of waivers by Member States and the passporting requirements. The Commission services are currently discussing policy options with the payment industry and the Member States.
A 'European Electronic Invoicing Framework' (EEIF) should be created by 2009. An Expert Group addresses topics on the regulatory framework, business requirements and network and standards. The Group is expected to provide a mid-term report to the Commission by the end of 2008, and its final report, containing a draft EEIF, should be available by the end of 2009.
Other issues covered include:
Payment Services Directive
MasterCard decision on intra-EEA Multilateral Interchange Fees
SEPA
Mortgage Credit
Payment fraud
Common Understanding among supervisors on accompanying transfers of funds
Payments newsletter
© Graham Bishop
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