The Council's agreement is based on a proposal by the presidency involving a compromise on the following main issues.
capital requirements for payment institutions;
activities that payment institutions may undertake, in particular the granting of credit;
the possibility of waiving application of certain provisions for smaller payment institutions;
the possibility of waiving application of certain provisions for certain instruments used primarily for the payment of small amounts (low-value payments).
The Council's general approach will be used as the basis for adopting the directive in first reading, under the Parliament-Council codecision procedure.
Press release on PSD
Commission press release
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