The European Banking Authority (EBA) published today its final Guidelines on complaints procedures to be followed by competent authorities (CAs) to ensure and monitor effective compliance by payment service providers (PSPs) with the revised Payment Services Directive (PSD2). These Guidelines are part of the EBA’s work to support the core objectives of PSD2 of strengthening the integrated payments market across the European Union, ensuring a consistent, efficient and effective application of the legislative framework and promoting transparency.
The EBA published today an Opinion on Brexit to ensure the consistent application of Union legislation to businesses seeking to establish or enhance their EU27 presence in order to retain access to the EU Single Market. The Opinion aims at providing greater certainty to firms and ultimately at ensuring a level playing field. In the Opinion, the EBA addresses a number of relevant policy topics relating to authorisations, the prudential regulation and supervision of investment firms, internal models, outsourcing, internal governance, risk transfers via back-to-back and intragroup operations, and resolution and deposit guarantee scheme issues. The EBA will monitor how the Opinion will be applied in practice by authorities and will continue its policy and risk analysis work in relation to the challenges posed by Brexit.
The European Banking Authority (EBA) rectified today Annex 1 of its Implementing Technical Standards (ITS) on benchmarking of internal approaches, which had been amended on 4 May 2017 to define the benchmarking portfolios for the 2018 benchmarking exercise.
European Commission - Fact Sheet Brussels, 11 October 2017 Completing the Banking Union by 2018 1. The Banking Union What is the Banking Union? In response to the recent financial crisis, the European Commission pursued a number of initiatives to create a safer financial sector for the Single Market.