Central Banking

ECB issues Sepa "expectations"

The European Central Bank (ECB) published a list of expectations on Friday for how it would like to see stakeholders act to implement the Single Euro Payments Area or Sepa, amid concerns that the initiative will be swept aside by the financial crisis.

The considerable cost associated with updating the technology and systems with the promise of more open and competitive markets had always meant some in the banking sector opposed the project as they saw it as threatening to revenues. The

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