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Over the past year the EPC has conducted a detailed review of both wholesale and retail cash handling and processing. The objective of this paper is to present the results of this analysis.
The key messages the EPC would like to deliver in relation to the harmonisation and improvement of wholesale and retail cash processing is as follows:
All stakeholders to wholesale cash processing should work towards:
- Euros being made available to banks on the basis of a similar fee structures applicable throughout the Euro zone.
- Banks being able to recycle cash at Euro system outlets at similar rates throughout the Euro zone.
- Banks sourcing and recycling cash from any outlet of the Eurosystem regardless of their country of registration and operation.
Legal and regulatory barriers that (directly or indirectly) limit or confine the commercial terms on which cash services are provided to users to be gradually dismantled.
National banking communities, national governments, merchants and other key stakeholders should work towards the implementation of common standards and best practice methods to enable the costs of retail cash handling to be substantially reduced.