The European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) on reporting of data on charges for credit transfers and payments accounts, and shares of rejected transactions. The ITS deliver on the mandate in the Instant Payment Regulation (IPR) amending the SEPA Regulation, and aim at standardising reporting from banks, payment institutions and e-money institutions (i.e. Payment Service Providers – PSPs) to their National Competent Authorities.
The reported data will help to ensure consumers benefit from access to instant credit transfers, and that the latter are no longer more expensive than regular credit transfers. Following its public consultation, the EBA has postponed the first harmonised reporting from PSPs by 12 months, from April 2025 to April 2026.
The ITS specify uniform reporting templates, instructions, and methodology for the purpose of reporting of charges for credit transfers, payment accounts and shares of rejected transactions due to the application of the EU sanctions regime.
In developing the ITS, the EBA has sought to find the appropriate balance between the competing aims of obtaining the data required for a robust analysis of the impact of the amended SEPA Regulation on the pricing of payment accounts and credit transfers, and the shares of rejected transactions, on the one hand, and the need to avoid an excessive reporting burden for the industry on the other.
The ITS will also support the European Commission in monitoring whether consumers benefit from access to instant credit transfers, and that instant credit transfers are not more expensive than regular credit transfers.
As part of reducing the burden on the industry, and in response to comments received to the consultation, the draft final ITS postpone the deadline set in the amended SEPA Regulation for the first harmonised reporting by 12 months, to April 2026, and the subsequent reporting from the National Competent Authorities to the EBA and the European Commission to October 2026. The additional 12 months will provide sufficient time for the European Commission to adopt the EBA’s final draft ITS, and for the EBA to develop the taxonomy, datapoint model and validation rules, which the industry then needs to implement.
Until the first reporting, National Competent Authorities should deprioritise collecting data from the PSPs, discourage institutions from providing unharmonised reporting prior to the availability of the EBA’s taxonomy, datapoint model and validation rules, and not take enforcement action in relation to PSPs that do not report in 2025.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
