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The ECB and the 16 national central banks of the euro area are consulting on two draft documents that provide oversight frameworks for credit transfer and direct debit schemes in the context of SEPA.
The Eurosystem developed a “Harmonised oversight approach and oversight standards for payment instruments” to create a common ground for all payment instrument frameworks. The draft oversight frameworks for credit transfer and direct debit schemes build on this document while accommodating the specifics of the payment instruments in question.
Once these frameworks have been finalised the Eurosystem will develop common assessment methodologies for the credit transfer and direct debit schemes. Furthermore, national central banks may also decide to apply the common standards for the oversight of other national (i.e. non-SEPA) payment instruments.
Deadline for comments is
Draft oversight framework for credit transfer schemes
Draft oversight framework for direct debit schemes