The European Banking Authority published final draft regulatory technical standards specifying the framework for cooperation and the exchange of information between competent authorities under the revised Payment Services Directive (PSD2).
The proposed cooperation framework ensures consistent and efficient supervision of payment institutions operating across borders by specifying the procedure for the requests and replies for cooperation and exchange of information between competent authorities, including single contact points, language, standardised forms and timelines.
These RTS also set out the periodical reporting requirements, divided into two sets of information, which host competent authorities can request from payment institutions operating in their territories via agents or branches.
The reporting requirements define the data breakdown, reporting periods, frequency and reporting deadlines. This periodical reporting provides the host competent authority with a better understanding of the payments market in the host Member State and helps the host competent authority monitor compliance with the provisions of national law transposing the PSD2.
Press release
Draft RTS
© EBA
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