13 December 2001

EP adopted Regulation on cross-border Payments

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The European Parliament adopted the Council common position on the Regulation on cross-border payments in euro. The draft second reading recommendation of Mrs Peijs, strongly recommending that Parliament should approve the regulation without amendment in second reading, was adopted at an extraordinary committee meeting in Strasbourg on 10 December.
According to the regulation the deadline for the equal charges principle will be 1 July 2002 for electronic payments and 1 July 2003 for cross-border credit transfers. The equal charges principle to payments is EUR 12,500 initially, with this being raised to EUR 50,000 in 2006.

See final text of recommendation
See also Commission press release
See Council Common Position

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