Central Banking

Europe set for SEPA after Sibos session

"SEPA is here! I met it in Boston," declared Jean-Michel Godeffroy, head of payments systems and market infrastructure at the European Central Bank (ECB), as Europe's payment players agreed to send, receive and process euro payments according to new rules from January next year.

SEPA, which stands for the Single Euro Payments Area, will see national borders for electronic payments within the eurozone dismantled for euro payments.

While players in the market have agreed on common rules for the

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