EBA Information Transfer PSD2

Updated on: Feb 4, 2025

Latest Event


  • Jan. 2025 Official Journal
  • On Jan. 31, 2025, EU CMSN issued Reg 2025/212 correcting Reg 2017/2055 in EU OJ.
  • Regulation in force on 20th day following publication in the Official Journal, Feb. 20.

On Dec. 11, EBA proposed guideline to exchange PSD2 information.

  • Aims to exchange consistent information on payment institutions across EU States.
  • Specified information which national supervisors should exchange with each other.
  • Covers notification of branches, agent engagement, and free provision of services.
  • Defines features for notification, terms of format, transmission channel, language.
  • Branch Passport Application
  • Home State to send information to host, where branch passport application made.
  • Notify date of receipt of a complete passport application from payment institution.
  • The EU State in which firm operates; type of passport application; name, address.
  • Authorization number and unique ID number given to firm by home member State.
  • Legal Entity Identifier; identity and contact details of a contact person at the firm.
  • Address of the branch; ID and contacts of persons responsible for its management.
  • Payment services to be provided in host State; organisational structure for branch.
  • Business plan, forecast budget calculation for the first three years, with resources.
  • Description of branch governance arrangements, and internal control mechanisms.
  • Dec. 2016 EBA Final Draft RTS
  • On Dec. 14, 2016, EBA issued RTS on exchanges of information for PSD passports.
  • Reflected consultation responses, overall was supportive, some amendment made.
  • Issued separate templates for agents and distributors, clarify information required.
  • Distinguish payment/e-money entity using agent, as opposed to using a distributor.
  • Revised templates cater to both right of establishment, freedom to provide service.
  • Clarified information transmitted to a host reflected assessment of home authority.
  • Information to send to host on circumstances taken into account by home authority.
  • EBA issued a diagram to help home authority identify which template it should use.
  • Effectiveness
  • PSD entered in force on Jan. 12, 2016, and scheduled to apply from Jan. 13, 2018.
  • Jun. 2017 EC Regulation
  • On Jun. 26, 2017, EC issued regulation on payment institution information notices.
  • Relating to the exercise of right of establishment, and freedom to provide services.
  • Nov. 2017 Official Journal
  • On Nov. 11, 2017, EC RTS on exchange of information between authorities in OJ.
  • Sep. 2024 RTS Annex Correction
  • On Sep. 13, 2024, EU CMSN adopted C(2024)6421 correcting annex Reg 2017/2055.
  • Annex I to Reg 2017/2055 is corrected in accordance with Annex to new regulation.
  • The regulation enters into force on 20th day following that of its official publication.
  • Jan. 2025 Official Journal
  • On Jan. 31, 2025, EU CMSN issued Reg 2025/212 correcting Reg 2017/2055 in EU OJ.
  • Regulation in force on 20th day following publication in the Official Journal, Feb. 20.
Regulators
EU CMSN; EU EBA
Entity Types
Bank; MSB
Reference
OJ L, 1/31/2025; Reg 2025/212, C(2024)6421, PR, 9/13/2024; OJ L 294, 11/11/2017, Reg 2017/2055, C/2017/4250, Reg c(2017)4250, 6/26/2017, Rp, EBA/RTS/2016/08, 12/14/2016, PR, 12/14/2016, CP/2015/25, PR, 12/11/2015, PSD Dir 2015/2366, A. 28(5); Citation: C(2024)6421; Reg 2025/212;
Functions
Financial; Reporting; Risk; Treasury
Countries
European Union
Category
State
N/A
Products
Banking; Payments
Rule Type
Final
Regions
EMEA
Rule Date
Dec 11, 2015
Effective Date
Feb 20, 2025
Rule ID
24837
Linked to
N/A
Reg. Last Update
Jan 31, 2025
Report Section
EU