Central Banking

We may not meet 2009 SEPA deadline, say banks

European Union banks have said that the introduction of a single euro payments system (SEPA) could face delays after the European Commission ruled they would not be able to charge for facilitating cross-border direct-debit payments.

The European Savings Banks Group, a trade body which represents a third of the retail banking markets in Europe, said Thursday that the industry would have to review the business case for SEPA after the European Commission said a default interchange fee for direct

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