The European Banking Authority (EBA), the EU’s banking regulatory body, has published a Decision aimed at standardising how national competent authorities (NCAs) report data under the SEPA Regulation.
The Decision introduces a single reporting channel through the EBA, through which NCAs will now submit their data, with the EBA then making it available to the European Commission. Previously, NCAs reported to both bodies separately. The measure also clarifies that where NCAs already hold some of the required data, they are responsible for verifying its accuracy and completeness without needing to re-collect it from payment service providers (PSPs).
The move is designed to reduce the administrative load on NCAs while improving the consistency and quality of data received by both the EBA and the European Commission. It supports the Commission’s ability to monitor whether consumers across the EU have access to instant credit transfers and that those transfers are not priced higher than standard credit transfers.
The Decision also amends the Annex to the EBA’s EUCLID Decision to incorporate the new reporting requirement and takes effect immediately.
The EBA is the regulatory authority responsible for overseeing banking regulation across the EU, working to ensure the integrity and stability of the European banking sector.
The Decision complements the European Commission’s existing Implementing Regulation, which requires all PSPs to report data on charges for credit transfers and payment accounts, as well as the proportion of transactions rejected due to EU sanctions. Under the SEPA Regulation, PSPs are required to submit this information to their competent authorities every 12 months, covering credit transfer charges, instant credit transfer charges, payment account charges, and rejection rates for both domestic and cross-border transactions resulting from targeted financial restrictive measures.
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