European Banking Authority consults on the future EBA register under the Payment Services Directive

The European Banking Authority (EBA) launched a public consultation on the draft regulatory technical standards (RTS) and implementing technical standards (ITS) on the EBA electronic central register under the Payment Services Directive (PSD2), which respectively set requirements on the development, operation and maintenance of the register and the information to be contained in it. The consultation runs until 18 September 2017.

The register ‎will include information about payment and electronic money institutions, account information service providers, their agents and branches, which are authorised or registered in the Member States. The register aims at ensuring transparency of the operation of these institutions in the EU, enhancing cooperation between the competent authorities in the Member States and ensuring high level of consumer protection.

The proposed RTS specify the technological solution for provision of information by competent authorities to the EBA, which will support both the manual insertion and the automated transmission of information. The RTS also set out requirements related to access to the register, the validation of information, the management and maintenance of the register by the EBA, the search of information and the display of the search results.

The proposed ITS specify the type of information that will be contained in the register for:

. payment and electronic money institutions and their agents;

. exempted payment and electronic money institutions and their agents;

. branches of payment institutions, electronic money institutions and account information service providers providing services in a Host Member State;

‘ account information service providers and their agents;

. providers of services based on specific payment instrument that can be used only in a limited way; and providers of electronic communication networks executing payment transactions or providing services in addition to electronic communications services.

The consultation period will run from 24.07.2017 to 18.09.2017. The final draft RTS and ITS will be published after the end of the consultation period.

Source: EBA – Consultation Paper

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