31 Amendments of Fabio Massimo CASTALDO related to 2022/0341(COD)
Amendment 29 #
Proposal for a regulation
Recital 8
Recital 8
(8) There is a variety of interfaces through which PSUs can place a payment order for a credit transfer in euro, including via online banking, a mobile application, an automated teller machine, in a branch, or by phone. To ensure that all PSUs have access to instant credit transfers in euro, there should be no difference in terms of the interfaces through which PSUs can place payment orders for instant and other types of credit transfer transactions. Moreover, where iat least one online channel should be available for PSUs to initiate instant payment orders in euro by a PSU. In addition, PSPs shall be allowed to put isn possible for a PSU to submit to a PSP payment orders for credit transfers packaged together, that same possibility should also be available with respect to instant credit transfers in euro. PSPs should be able to offer all credit transfers in euro initiated by lace risk mitigation measures to propose only regular credit transfers in certain situations, for instance for reasons of public safety and customer protection. In addition, PSPs shall be given the faculty to enable PSUs to evaluate and choose whetheir PSUs asto use instant by defaultpayments or to opt for regular credit transfers.
Amendment 36 #
Proposal for a regulation
Recital 10
Recital 10
Amendment 42 #
Proposal for a regulation
Recital 11
Recital 11
(11) Security of instant credit transfers in euro is fundamental for increasing PSUs’ confidence in such services and ensuring their use. Payers intending to send a credit transfer to a given payee may, as a result of fraud or error, provide a payment account identifier which does not correspond to an account held by that payee. Under Directive (EU) 2015/2366 of the European Parliament and of the Council37 , the only determinant of the correct execution of the transaction with respect to the payee is the unique identifier, and PSPs are not required to verify the name of the payee. In the case of instant credit transfers, there is not enough time for the payer to realise the occurrence of a fraud or error and to try to recover the funds before they are credited to the payee’s account. PSPsThe payee's PSPs, upon request by the payer's PSP, should therefore verify whether there is any discrepancy between the unique identifier of the payee and the name of the payee provided by the payer, an. The payer's PSP should notify the payer placing a payment order for an instant credit transfer in euro about any such discrepancies detected by the payee's PSP. To avoid undue frictions or delays in the processing of the transaction instantly, the payer’s PSP should provide such notification within no more than a few seconds from the moment the payer provided the payee information. To allow the payer to decide whether to proceed with the intended transaction, the payer’s PSP should provide such notification before the payer authorises the transaction. However, such verification of the correspondence between the unique identifier of the payee and the name of the payee provided by the payer will help prevent errors and reduce specific types of fraud, although other kinds of fraud will remain uncovered. For this reason, PSPs shall be able to limit the offering and/or the execution of instant credit transfers due to risk assessment reasons (including fraud suspicion). __________________ 37 Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).
Amendment 53 #
Proposal for a regulation
Recital 12
Recital 12
Amendment 65 #
Proposal for a regulation
Recital 13 a (new)
Recital 13 a (new)
(13a) At the current stage, solutions that allow the verification of any discrepancy between the unique identifier of the payee and the name of the payee are available in a few Member States only. The definition of harmonized rules and standards for the exchange of messages between PSPs is a pre-condition for executing such verification at the EU level.
Amendment 78 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) Screening measures covered in this proposal apply only to EU sanctions (restrictive measures), adopted as part of the EU law. The proposed provision does not apply to other restrictive measures, adopted at national level, nor to other kinds of sanctions such as trade sanctions, sectorial sanctions, economic sanctions, arms embargoes, restrictions on admission, export restrictions, import restrictions, flight bans, or bans on the provision of financial services to a specific jurisdiction. Therefore, this proposal does not introduce any harmonised procedure for other sanctions than those related to the EU lists.
Amendment 88 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 260/2012
Article 2 – paragraph 1 – point 1a – point a
Article 2 – paragraph 1 – point 1a – point a
(a) the time of receipt of the payment order for such credit transfer is the moment when the payer instructs his or PSP receives the payment order given by ther PSPU to execute that credit transfer, regardless of the day or hour;
Amendment 89 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 260/2012
Article 2 – paragraph 1 – point 1a – point b
Article 2 – paragraph 1 – point 1a – point b
(b) the authorized payment order for such credit transfer is immediately processed by the payer’s PSP, regardless of the day or hour;
Amendment 93 #
Proposal for a regulation
Article 1 – paragraph 1 – point 1 – point a
Article 1 – paragraph 1 – point 1 – point a
Regulation (EU) No 260/2012
Article 2 – paragraph 1 – point 1ba (new)
Article 2 – paragraph 1 – point 1ba (new)
(1ba) ‘payment account’ means an account as defined in Article 4, point (12), of Directive (EU) 2015/2366 of the European Parliament and of the Council;
Amendment 103 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
PSPs that offer to their PSUs a payment service of sending and receiving credit transfers shall offer to all their PSUs, upon their request, a payment service of sending and receiving instant credit transfers, through an online channel.
Amendment 110 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5a – paragraph 1 – subparagraph 2
Article 5a – paragraph 1 – subparagraph 2
However, this paragraph shall not apply to electronic money institutions as defined in Article 2, point (1), of Directive 2009/110/EC and payment institutions as defined in Article 4, point (4), of Directive (EU) 2015/2366 and to niche PSPs players as defined by National Competent Authorities.
Amendment 113 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5a – paragraph 1 – subparagraph 2a (new)
Article 5a – paragraph 1 – subparagraph 2a (new)
By way of derogation from the first subparagraph, PSPs may limit the offering of instant credit transfers due to risk assessment reason (including fraud suspicion) and to comply with other regulatory provisions.
Amendment 119 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 – point (a)
Article 5a – paragraph 2 – point (a)
(a) they shall ensure that payers are able to place a payment order for an instant credit transfer through the same PSU interfaces as the onat least through one of the PSU interfaces through which those payers can place a payment order online for other credit transfers;
Amendment 130 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 – point c
Article 5a – paragraph 2 – point c
(c) they shall ensure that all payment accounts they maintainat are reachable for credit transfers are reachable for instant credit transfers 24 hours a day and on any calendar day, whereby they inform their payment services users in advance about foreseeable short periods of non- availability due to maintenance;
Amendment 136 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 2 a (new)
Article 5a – paragraph 2 a (new)
(2a) By way of derogation from paragraph 2, no liability shall arise in cases of abnormal and unforeseeable circumstances beyond the control of the PSP, the consequences of which would have been unavoidable despite all efforts to the contrary, or where the PSP is bound by other legal obligations covered by other relevant laws.
Amendment 137 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 3
Article 5a – paragraph 3
Amendment 153 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5a – paragraph 4 – subparagraph 1
Article 5a – paragraph 4 – subparagraph 1
PSPs as referred to in paragraph 1 that are located in a Member State whose currency is the euro shall offer PSUs the service of receiving instant credit transfers in euro by … [PO please insert the date = 618 months after the date of entry into force of this Regulation], and the service of sending instant credit transfers in euro by … [PO please insert the date = 124 months after the date of entry into force of this Regulation].
Amendment 164 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5b – paragraph 1
Article 5b – paragraph 1
Amendment 168 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5b – paragraph 2
Article 5b – paragraph 2
Amendment 189 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 1 – subparagraph 1
Article 5c – paragraph 1 – subparagraph 1
With regard to instant credit transfers, a payer’s PSP shall request a payee’s PSP to verify whether the payment account identifier and the name of the payee provided by the payer match. A payee's PSP shall confirm to the payer’s PSP whether the name and IBAN match. Where they do not match, thate payee’s PSP shall notifyimmediately inform the payer’s PSP of anythe discrepancies detected and the degree of any such discrepancy. The payer’s PSP shall then notify the payer of those discrepancies detected.
Amendment 197 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 1 – subparagraph 2
Article 5c – paragraph 1 – subparagraph 2
PSPs shall provide that service immediately after the payer provided to its PSP the payment account identifier of the payee and the name of the payee, and before the payer is offered the possibility to authorise the instant credit transfer. With regard to instant credit transfers with trusted beneficiaries, as referred to in Article 13 of Commission Delegated Regulation (EU) 2018/389 of 27 November 2017 supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards for strong customer authentication and common and secure open standards of communication, PSPs shall be exempted from the verification.
Amendment 203 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 2
Article 5c – paragraph 2
2. PSPs shall ensure that the detection and notification of a discrepancy as referred to in paragraph 1 does not prevent payers from authorising the instant credit transfer concerned. In this case, if the instant credit transfer is authorized by the PSU, PSPs should not be held liable for the execution of the transaction to an unintended payee, as laid down in article 88 of Directive (EU) 2015/2366.
Amendment 206 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 2a (new)
Article 5c – paragraph 2a (new)
2a. Where the payee’s PSP does not comply with its obligation under paragraph 1 or fails to provide accurate information regarding the matching of the payment account identifier with the name of the payee provided by the payer, it shall refund any financial damage caused to the payer. If this occurs due to any failure of the payer’s PSP, the payer’s PSP shall refund the financial damage caused to the payer.
Amendment 223 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 5
Article 5c – paragraph 5
5. The service referred to in paragraph 1 shall be provided to the payer regardless of that least through the online PSU interface used by the payer to place a payment order for an instant credit transfer.
Amendment 230 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 5a (new)
Article 5c – paragraph 5a (new)
(5a) PSPs may charge a fee for the use of the service referred to in paragraph 1.
Amendment 233 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5c – paragraph 6 – subparagraph 1
Article 5c – paragraph 6 – subparagraph 1
PSPs located in a Member State whose currency is the euro shall comply with this Article by …[ PO please insert the date = 128 months after the date of entry into force of this Regulationlaunch of a European standard solution for the verification required by paragraph 1].
Amendment 249 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5d – paragraph 1 – subparagraph 2
Article 5d – paragraph 1 – subparagraph 2
PSPs shall carry outinitiate such verifications immediatelyas soon as reasonably possible after the entry into force of any new or amended restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available , and at least once every calendar dayevery business day. Where an alert is generated as a result of verification carried out during non- business days, the alert may be reviewed on the first business day following its generation.
Amendment 257 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
2. During the execution of an instant credit transfer, the payer’s PSP and the payee’s PSP involved in the execution of such transfer shall not verify whether the payer or the payee whose payment accounts are used for the execution of that instant credit transfer are listed persons or entities in addition to carrying out verifications under paragraph 1. This is without prejudice to other actions taken by PSPs in accordance with restrictive measures that are not adopted in accordance with Article 215 TFEU or in accordance with risk-based requirements from anti-money laundering and counter terrorist financing obligations or other relevant obligations.
Amendment 259 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5d – paragraph 3
Article 5d – paragraph 3
3. A PSP that has failed to carry out the verifications referred to in paragraph 1 and executes an instant credit transfer causThe payee’s PSP of an instant credit transaction is not liable for the financial damage resulting from penalties imposed under restrictive measures adopted ing another PSP involved in the execution of that instant credit transaction toccordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available if the payee’s PSP has failed to freeze assets of listed persons or entities, or to make funds or economic resources available to such persons or entities, shall compensate the financial damage caused to the other PSP because the payer’s PSP has failed to carry out the verifications referred to in paragraph 1. The payer’s PSP of an instant credit transaction is not liable for the financial damage resulting from penalties imposed on that other PSP under restrictive measures adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available if the payer’s PSP has failed to freeze assets of listed persons or entities or to make funds or economic resources available to such persons or entities because the payee’s PSP has failed to carry out the verifications referred to in paragraph 1.
Amendment 262 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) 260/2012
Article 5d – paragraph 4
Article 5d – paragraph 4
4. PSPs shall comply with this Article by …[ PO please insert the date = 618 months after the date of entry into force of this Regulation].
Amendment 277 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) 260/2012
Article 11 – paragraph 1b
Article 11 – paragraph 1b