Press Release: EBA publishes clarifications to the fifth set of issues raised by its Working Group on APIs under PSD2

The European Banking Authority (EBA) published today clarifications to a fifth set of issues that had been raised by participants of its Working Group (WG) on APIs under PSD2. The clarifications respond to issues raised on the measurement of response times of the dedicated interface, the machine-readability of the EBA register, reliance on eIDAS certificates and various issues related to the contingency measures, including the identification of third party providers through ‘guest books’, the data that can be accessed and documentation.

UPDATED: Decision of the ECB of 26 July 2019 on the procedure and conditions for exercise by a competent authority of certain powers in relation to oversight of systemically important payment systems (ECB/2019/25)

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Official Journal (L Series): Guideline (EU) 2019/1335 of the European Central Bank of 7 June 2019 amending Guideline (EU) 2018/876 on the Register of Institutions and Affiliates Data (ECB/2019/17)

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Joint statement on global privacy expectations of the Libra network

Representatives of the global community of data protection and privacy enforcement authorities are joining together to express shared concerns about the privacy risks posed by the Libra digital currency and infrastructure.

Public Consultation: Methodology to determine the WAM of contractual payments due under the tranche of a securitisation transaction

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Question for written answer: The case of Libra currency

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Agenda: Working Party on Tax Questions (Indirect Taxation – VAT) (10 September 2019)

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Press Release: Banks and third party providers agree on joint efforts regarding the transition to new payment rules

On 26 July, representatives of three European Credit Sector Associations (European Banking Federation, European Association of Co-operative Banks, European Savings and Retail Banking Group) and of two third party providers (the European Third Party Providers Association and the Financial Data and Technology Association) signed a Joint Statement to facilitate the application of the requirements for secure open standards of communication between banks and third party providers (TPPs) as set out in second payment services directive (PSD2) and the RTS on strong customer authentication and common and secure communication, which the Commission adopted on 27 November 2017 (Commission Delegated Regulation (EU) 2018/389). Those requirements become applicable as from 14 September 2019.

Answer to the written question: Letter from the ECB President to Mr Markus Ferber, MEP, on stablecoin initiatives

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Press Release: Payments statistics: 2018

The European Central Bank (ECB) has today published the 2018 statistics on non-cash payments, which comprise indicators on access to and use of payment services and terminals by the public, as well as volumes and values of transactions processed through payment systems. While this press release focuses on developments in the euro area as a whole, statistics are also published for each EU Member State, in addition to EU and euro area aggregates and comparative data.

Press Release: EBA updates on monitoring of CET1 capital instruments

The European Banking Authority (EBA) published today an updated list of Common Equity Tier 1 (CET1) instruments of EU institutions. This list is accompanied by an updated CET1 Report, which includes information on the underlying objectives of the monitoring as well as on the consequences of including or excluding instruments in or from the CET1 list.  The EBA’s monitoring of capital instruments contributes to the enhancement of the quality of institutions’ capital across the EU. The EBA will continue to update the Report on a regular basis to give account of new developments in CET1 issuances and practices.

Press Release: EBA publishes Report on regulatory perimeter, regulatory status and authorisation approaches in relation to FinTech activities

The European Banking Authority (EBA) published today the findings of its analysis on the regulatory framework applicable to FinTech firms when accessing the market. The Report illustrates the developments on the regulatory perimeter across the EU, the regulatory status of FinTech firms, and the approaches followed by competent authorities when granting authorisation for banking and payment services.

European Court of Auditors Special Report no 12/2019: E-commerce: many of the challenges of collecting VAT and customs duties remain to be resolved

ECA examined whether the European Commission has established a sound regulatory and control framework for e-commerce with regard to the collection of VAT and customs duties, and whether Member States’ control measures help ensure the complete collection of VAT and customs duties on e-commerce. The report found that despite recent positive developments the EU is not currently dealing adequately with these issues but have addressed some of the weaknesses identified with the “e-commerce package”.

ECA makes a number of recommendations as to how the European Commission and the Member States should better address the challenges identified and establish a sound regulatory and control framework.

Official Journal (C Series): Opinions of the European Economic and Social Committee

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Agenda: Working Party on Tax Questions (Indirect Taxation – VAT) (24 July 2019)

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Event: Deep Tech for Next Generation Financial Services (Stockholm, 19 September 2019)

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Press Release: EBA assesses impact of FinTech on payment institutions’ and e-money institutions’ business models

The European Banking Authority (EBA) published today a thematic Report on the impact of FinTech on payment institutions’ (PIs) and electronic money institutions’ (EMIs) business models. This Report points out the EBA’s key observations on PIs’ and EMIs’ strategies and business model changes, in particular focusing on the current trends and drivers, the different approaches to FinTech, including their interaction with BigTech firms, and the level of implementation of innovative technologies. The Report, which is in line with the priorities listed in its FinTech Roadmap, does not foresee or intend to model scenarios for potential future development of institutions. The Report aims to share knowledge and provide support to supervisors and other stakeholders in identifying and understanding the main trends that could impact PIs’ and EMIs’ business models and pose potential challenges to their sustainability.

Event: ENISA Trust Services Forum / CA Day 2019 (25-26 September 2019)

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