Central Banking

Electronic payment system standards will be a 2016 priority, EBA says

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EBA headquarters in London

Work on improving electronic payment systems in Europe will be a priority for the European Banking Authority (EBA) in 2016, it announced in its annual report for 2015, published on June 15.

The EBA will work with the European Central Bank (ECB) to develop standards for the European Commission's revised Payment Systems Directive (PSD2), which entered into force in January 2016.

The EBA has the responsibility for developing six draft regulatory technical standards (RTS) and five guidelines for

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