Central Banking

Sepa migration deadline pencilled in for 2014

euro in black light

Migration to the Single Euro Payments Area (Sepa) is set to be complete by February 2014 after European officials on Tuesday announced the details of final regulation on end-dates.

The Council of the European Union (EU) said it had received the go-ahead from the European Parliament to confirm draft regulation on credit transfers and direct debit transactions in euros. The regulation sets February 1, 2014 as the deadline for migration of credit transfers and direct debits to Sepa.

Michel Barnier

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