Tag Archives: EBA

EBA provides draft response to EC consultation on Fintech

The EBA has produced a draft response to the EC’s consultation on ‘Fintech: a more competitive and innovative European Financial Sector.’ The response sets out the EBA’s views on questions in the consultation paper that fall within the scope of the work of the EBA. The EBA provided responses on the following topics: Big data […]

EBA publishes 2016 annual report – some key areas of focus for 2017

The EBA published its 2016 Annual Report, which provides a detailed account of all the work the Authority achieved in the past year and anticipates the key areas of focus in the coming years. Some of the EBA’s key areas of focus for 2017 are: Monitoring FinTech and the regulatory perimeter   the EBA will continue […]

EBA finalises PAD terminology and disclosure Annex

EBA finalised its technical standards on standard terminology and disclosure under the PAD and submitted it to the Commission in early May.  It has now published the Annex which contains the 8 terms in all official languages. The terms, in English, are: maintaining the account providing a debit card providing a credit card arranged overdraft sending […]

Commission to amend PSD2 RTS

The Commission has written to the EBA explaining why it plans to amend the draft RTS under PSD2 on customer authentication and standards of communication. The key areas of change are: to ensure statutory audit of the risk analysis methodology; a new exemption to the application of strong customer authentication for certain corporate payments which […]

EBA consults on outsourcing to the cloud

EBA is consulting on regulatory expectations when firms outsource to the cloud. It wants to identify a set of key principles that all credit institutions and investment firms should follow, and which all regulators should apply. The paper focuses on five key areas for recommendation:  the security of data and systems the location of data […]

EBA publishes PAD standards

EBA has published its final draft technical standards under the Payment Accounts Directive on standard terminology for services linked to a payment account, and standardised formats and common symbol of the Fee Information Document and Statement of Fees. There are 8 standardised terms with consumer-friendly definitions, and payment service providers will have to use the […]

FCA makes CRD IV remuneration guidance

FCA has made its final rules and guidance on remuneration in CRD IV firms, which it has aligned to EBA guidelines. The changes take effect immediately, since the EBA guidelines came into force at the beginning of 2017. Firms should ensure they comply with the new standards for the 2017 performance year onwards.

European Parliament adopts resolution on Brexit negotiations with UK – Financial services aspects

Read the full draft text of the principles and conditions here. An overwhelming majority of the house (516 votes in favour, 133 against, with 50 abstentions) adopted a resolution officially laying down the European Parliament’s key principles and conditions for its approval of the UK’s withdrawal agreement. The Parliament covered the following in relation to financial […]

EBA publishes PSD2 authentication RTS

On 23 February, EBA published its final draft RTS on strong customer authentication and common and secure communication under PSD2. EBA heralded the publication as having had to address “difficult trade-offs between the various, at times competing, objectives of the PSD2”. It received a huge number of responses to its consultation, which identified around 300 […]

EBA speaks on PSD2

At the same payments conference at which BoE spoke, Andrea Enria, Chair of EBA, spoke of EBA’s work on PSD2, specifically the technical standards it needs to produce. He noted there are 11 technical standards and guidelines to be produced, and that EBA has already consulted on over half of these. The most controversial is […]