The European Banking Authority (EBA) repealed its Guidelines on major incidents reporting under the Payment Services Directive (PSD2) due to the application of harmonised incident reporting under the Digital Operational Resilience Act (DORA) from 17 January 2025. The repeal of the Guidelines aims at simplifying the reporting of major incidents by payment service providers (PSPs) and providing legal certainty to the market.
DORA, which has been start applying from 17 January 2025, introduces harmonised incident reporting requirements that apply to financial entities across the banking, securities/markets, insurance and pensions sectors. This includes most PSPs, namely credit institutions, payment institutions, e-money institutions and account information service providers. DORA also disapplies the incident reporting requirements under PSD2 for those PSPs.
In that regard, to ensure legal clarity and certainty for the payment service providers covered by DORA, and to simplify the overall reporting of major incidents by PSPs, the EBA has decided to repeal its Guidelines on major incident reporting under PSD2.
It is important to note that incident reporting requirements under PSD2 still apply for other types of PSPs (e.g. post-office giro institutions and credit unions) that are not covered by DORA. However, the EBA has decided to repeal the Guidelines in their entirety because:
. the number of such institutions is very low with no sizable market share at EU level;
. these PSPs operate in less than half of the EU Member States and provide services at national level only;
. the number and significance of incident reports received from these PSPs at EU-level is negligible.
Finally, the EBA notes that those PSPs that are still subject to incident reporting requirements under the PSD2 can be subject to national incident reporting requirements, regardless of the existence of the EBA Guidelines. Competent authorities willing to retain the incident reporting approach included in the EBA Guidelines for those PSPs can continue to do so under their national legal framework or supervisory measures.
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