Central Banking

ECB’s Tumpel-Gugerell: self-regulation hasn’t worked for Sepa


Migration to the Single European Payments Area (Sepa) as a self-regulatory process has not achieved the required results, Gertrude Tumpel-Gugerell, a member of the executive board of the European Central Bank, said on Thursday.

At a conference in Vienna on Thursday, she said: "It is at the final stage, at the point of migration to the payment schemes and frameworks that the [Sepa] integration process has stalled. Sepa migration as a self-regulatory process has not achieved the required results."

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