The Presidents of the three European Credit Sector Associations EBF, ESBG, and EACB welcomed the achievement of joint efforts by banks and European institutions. They stressed this is an illustration of the commitment of the banking sector to the SEPA project as the appropriate response to the political ambition of an internal market for payments expressed by European institutions.
The completion of this first phase marks a significant advance for customers and society. Some concerns however remain in relation to the deployment of the subsequent phases in which European and national authorities have to play their role.
“Banks are not solely responsible for the future final achievement of SEPA: all stakeholders must be actively committed, information and cooperation are key if SEPA is to fulfil its role as competition enhancer”, declared Michel Pébereau, President of the European Banking Federation and Chairman of BNP Paribas.
© EBF
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