In order to assist the market in accessing the SEPA migration Regulation easily, ESBG has transcribed this very important piece of legislation into a single chart, highlighting by date and item the key steps for compliance over the next five years.
For each step, a single click will allow the viewer to understand the essence of the disposition, and its implications. In addition, viewers can use the tool to provide feedback. Just two clicks suffice – from the ESBG website – to access any detail.
The SEPA migration Regulation (EC Regulation 260/2012) went into force on 31 March 2012, a day after its publication in the Official Journal of the European Communities. The SEPA migration Regulation is an essential piece of legislation to provide certainty for all stakeholders.
This migration, however, will extend over five years – between now and 2017. Furthermore, there are different timelines for euro and non-euro countries, and in addition Member States have been allowed to introduce nationally effective waivers for certain dispositions of the Regulation.
ESBG Managing Director Chris De Noose remarks: “ESBG members have been preparing for SEPA migration for a long time. The retail banking community is eager to ensure migration to pan-European credit transfers and direct debits for all stakeholders. We are delighted to contribute, for public use, this easy-to-access tool: with two clicks the SEPA migration Regulation becomes understandable for everybody.”
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