Tag: EBA

PSD2: The European Parliament as a friend of account information & payment initiation service providers

The European Banking Authority (EBA) has published a letter from the European Parliament’s PSD2 negotiating team. The team describes itself as “concerned” about the risk that the EBA’s draft Regulatory Technical Standards (RTS) on “strong customer authentication and … secure communications” will allow the banks to “exclude or limit direct access” by […]

PSD2: EBA consults on PII Guidelines for payment initiation & account information service providers

The European Banking Authority (EBA) has published its draft Guidelines on professional indemnity insurance (PII) and comparable guarantees for payment initiation and account information service providers (PISPs and AISPs respectively), under the second Payment Services Directive (PSD2).  The draft Guidelines include criteria, indicators, calculation methods and a formula for national regulators  to use when […]

PSD2: “strong customer authentication” – what, when & how?

From 13 January 2018, banks, electronic money issuers and other payment service providers (together, PSPs) will be required to “appl[y] strong customer authentication“. Now that we have both the second Payment Services Directive (PSD2) and the European Banking Authority’s draft Regulatory Technical Standards (RTS), we can begin to see what this might mean, and what […]

PSD2: EBA consults on “strong customer authentication” & “common and secure communication”

(As anticipated) the European Banking Authority (EBA) has published a “Consultation Paper on the draft Regulatory Technical Standards specifying the requirements on strong customer authentication and common and secure communication under PSD2“. The Consultation Paper includes the EBA’s thoughts on what the relevant parts of the second Payment Services Directive (PSD2) mean; and its first draft […]

Virtual currencies & the 4th Anti-money Laundering Directive: EBA criticizes Commission’s proposals

The European Banking Authority has published an Opinion, which criticizes the Commission’s approach to virtual currencies (VCs) and its proposed amendments to the 4th Anti-money Laundering Directive (4AMLD). In its 2014 “Opinion on virtual currencies“, the EBA described some of the many benefits and risks associated with VCs. It also argued (for example) that (a) regulated financial institutions should be discouraged from buying, holding and selling […]

EBA publishes Regulatory Technical Standards on separation of payment card schemes & processing entities: next steps

The European Banking Authority (EBA) has published its final draft Regulatory Technical Standards (RTS) on the separation of payment card schemes and processing entities, under article 7(6) of the European Interchange Fees Regulation. The draft RTS have also been submitted to the European Commission, Parliament and Council for possible adoption. In all probability, they will be in force before […]

Passporting under PSD2: an EBA Consultation Paper is born

The European Banking Authority has published a Consultation Paper (CP) and draft Regulatory Technical Standards (RTS) on the “framework for cooperation and exchange of information between competent authorities for passport notifications, under PSD2“. The consultation will run until 11 March 2016, and responses must be submitted here. The RTS are intended (a) to “ensure […]