Digital Banking, Payment Systems & FinTech

Free Flow of Data

Updated on 21/08/2019

Level 1

Cyber Security

Updated on 20/08/2019

Level 1

 

Commission

  • Published a cybersecurity package on 13 September 2017.
  • On 26 March 2018 the Commission opened a consultation on a proposal to create a cybersecurity competence network with a European Cybersecurity Research and Competence Centre.

Council

  • On 8 June 2018, the Council agreed on its general position on the Cybersecurity Act

FinTech Action Plan

Updated on 21/08/2019

State-of-play: Pre-legislative phase.

Level 1

State-of-play: pre-legislative

 

Commission

 

Level 2

  • On 1 July 2019, EIOPA launched a consultation on guidelines on outsourcing to cloud service providers.
  • On 18 July 2019, EBA published a report on regulatory framework applicable to FinTech firms.
  • On 19 July 2019, EBA published the report on regulatory perimeter, regulatory status and authorization approaches in relation to FinTech activities.

Virtual Currencies

Updated on 21/08/2019

State-of-play: Non-legislative.

Level 1

State-of-play: non-legislative.

 

Commission

European Parliament

Level 2

  • On 2 June 2016, ESMA has issued a Discussion Paper for public consultation on distributed ledger technology, the consultation ended on 2 September 2016.

Level 3

Action Plan on Retail Financial Services

Updated on 21/08/2019

State-of-play: Pre-legislative phase.

Level 1

State-of-play: Pre-legislative phase.

 

Commission

 

European Parliament

  • The report on the Green Paper was approved in ECON on 11 October 2016.
  • On 22 November 2016, the text was adopted by the Parliament in Plenary.
  • On 20 June 2017, the ECON Committee had its consideration of the draft own initiative report.
  • On 30 August 2017, the ECON Committee discussed proposed amendments to the action plan.
  • On 28 September 2017 ECON and IMCO published a joint opinion on an Action Plan on Retail Services.
    On 14 November 2017, the own initiative report was adoptedwas adopted at plenary.
    On 9 July 2019, ESAs published a report on cross border supervision of retail financial services 

SEPA extension and dynamic currency conversion

Updated on 21/08/2019

State-of-play: Legislative phase.

Level 1

State of play: legislative phase

 

Commission

  • Consultation on transparency and fees in cross-border transactions in the EU (launch on 24 July 2017/closed on 30 October 2017)
  • The Commission published a proposal on 28 March 2018

Council

  • On 27 June 2018, a general approach was agreed on the proposals.
  • On 19 December 2018, the Council reached a political agreement on aligning the costs of cross-border payments in euros between euro and non-euro countries.

Parliament

  • On 18 September 2018, ECON published the amendments on cross-border payments.
  • On 8 November 2018 ECON published a report on the proposal for a regulation as regards certain charges on cross-border payments.
  • On 19 March 2019, the Official Journal published the Regulation on certain charges on cross-border payments in the Union and currency conversions charges.

Payment Services Directive II (PSD2)

Updated on 21/08/2019

State-of-play: Published in the Official Journal. L 337/35 on 25 November 2015

Level 1

State-of-play: Published in the Official Journal L 337/35 on 23 December 2015. Came into force on 12 January 2018.

Transposition deadline: 13 January 2018.

Level 2

  • The Commission published the RTS on 27 November 2017.
  • On 13 December 2017 the EBA published its final Report on Draft RTS setting technical requirements on development, operation and maintenance of the electronic central register on access to information
  • On 14 March 2019, the Commission published a delegated regulation on the criteria for the appointing central contact points within the field of payment services and on the functioning of those central contact points.

Level 3

  • On 29 June 2017, EBA published its opinion in response to the Commission’s intention to amend EBAs RTS under PSD2.
  • On 4 December 2018, EBA published guidelines on exemption from the fall back mechanism under the RTS on SCA and CSC.
  •  On 11 December 2018 EBA published an opinion on the use of eIDAS certificates under PSD2.
  • On 26 April 2019 EBA published clarifications to a third set of issues raised by its Working Group on APIs under PSD2.
  • On 21 June 2019, EBA published an opinion on PSD2

Green Paper on Retail Financial Services

Updated on 29/11/2017

State-of-play: Consultation.

  • Commission: On 2 September 2015, a Roadmap for the Green Paper was published. The publication of the Green Paper and the consultation took place on 10 December 2015. A public hearing organised by the European Commission was held on 2 March. The Commission published an action plan in Q1 2017.
  • European Parliament: The report on the Green Paper was approved in ECON on 11 October 2016. On 22 November 2016, the text was adopted by the Parliament in Plenary.

Contact

Association des Banques et Banquiers, Luxembourg

Address

12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.