Activities of Lídia PEREIRA related to 2022/0341(COD)
Plenary speeches (1)
Instant payments in euro (debate)
Amendments (31)
Amendment 32 #
Proposal for a regulation
Recital 9
Recital 9
(9) It would not be proportionate to impose on payment institutions and electronic money institutions an obligation to offer the service of sending and receiving instant credit transfers in euro, because those institutions cannot be admitted as participants in a payment system designated in accordance with Directive 98/26/EC of the European Parliament and of the Council36 . Those institutions may therefore experience difficulties in accessing the infrastructure necessary to execute instant credit transfers. It is therefore appropriate to exclude payment institutions and electronic money institutions from the obligation to offer the service of sending and receiving instant credit transfers in euro as long as they are not considered to be institutions in accordance with Article 2, point (b) of the Settlement Finality Directive. Therefore, Directive 98/26/EC should be amended to allow payment institutions and electronic money institutions to act as participants in a payment system designated in accordance with that Directive. __________________ 36 Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).
Amendment 68 #
Proposal for a regulation
Recital 14
Recital 14
(14) It is of critical importance that PSPs effectively comply with their obligations stemming from Union sanctions against persons, bodies or entities that are subject to an asset freeze or a prohibition to make funds or economic resources available to it, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU (listed persons or entities). Union law, however, does not lay down rules on the procedure or tools to be used by PSPs to ensure their compliance with those obligations. PSPs thus apply various methods, based on their individual choice or on the guidance provided by the national authorities concerned. The practice of complying with obligations stemming from Union sanctions by screening the payer and the payee involved in each credit transfer transaction, either national or cross-border, leads to a very high number of credit transfers being flagged as potentially involving listed persons or entities. However, the large majority of such flagged transactions turn out, after verification, not to involve any such persons or entities. Due to the nature of instant credit transfers, it is impossible for PSPs to verify, within short time limits, such flagged transactions instantly and, as a result, they are rejected. That situation creates operational challenges for PSPs to offer instant credit transfers to their PSUs across the Union in a reliable and predictable way. To provide for greater legal certainty, increase the efficiency of PSPs’ efforts to comply with their obligations stemming from Union sanctions in the context of instant credit transfers in euro, and to prevent unnecessary hindering of such transactions, PSPs should thus verify, at least daily, whether their PSUs are listed persons or entities, and should no longer apply transaction-based screening. The use of the Legal Entity Identifier (LEI) could play a beneficial role in that context by facilitating the screening of sanctions.
Amendment 72 #
Proposal for a regulation
Recital 15
Recital 15
(15) To prevent the initiation of instant credit transfers from payment accounts belonging to listed persons or entities and to immediately freeze funds sent to such accounts, PSPs should carry out verifications of their PSUs as soon as possible following the entry into force of a new restrictive measure adopted in accordance with Article 215 TFEU providing for asset freeze or prohibition of making funds or economic resources available, and following a significant change of PSUs details, thus ensuring that PSPs comply with their obligations stemming from Union sanctions in an effective manner.
Amendment 75 #
Proposal for a regulation
Recital 15 a (new)
Recital 15 a (new)
(15a) Without prejudice to the above obligations, the Commission should work on the elaboration of a Union-wide harmonised sanctions list which covers Union sanctions, national sanctions and direct international sanctions regimes.
Amendment 77 #
Proposal for a regulation
Recital 16
Recital 16
(16) Failure of one PSP to carry out timely verifications of its PSUs could result in a failure of the other PSP involved in carrying out the same instant credit transfer transaction to freeze funds of a listed person or entity or not to make funds or economic resources available to such person or entity. PSPs that incur penalties for non-compliance with their obligations stemming from Union sanctions due to the failure of another PSP to carry out timely verifications of its PSUs should be proportionally compensated for those penalties by that PSP.
Amendment 83 #
Proposal for a regulation
Recital 19
Recital 19
(19) Under Article 3 of Regulation (EU) 2021/1230 of the European Parliament and of the Council38 , charges applied by a PSP located in a Member State whose currency is not the euro in respect of cross-border credit transfers in euro are to be the same as charges applied by that PSP in respect of national credit transfers in the national currency of that Member State. In situations where such a PSP applies higher charges for national instant credit transfers in the national currency than for national non-instant credit transfers in the national currency, and therefore also higher charges than for cross-border non-instant credit transfers in euro, the level of charges that such a PSP would be required to apply under Article 3 of Regulation (EU) 2021/1230 in respect of cross-border instant credit transfers in euro would be higher than charges for cross-border non- instant credit transfers in euro. In such situations, to avoid conflicting requirements and taking into account the key objective of steering PSUs towards instant credit transfers in euro, it is appropriate to require that charges applied to payers and payees for cross-border instant credit transfers in euro do not exceed the charges applied for cross-border non-instant credit transfers in euro. It is essential to guarantee that the industry does not raise the fees, in an disproportionate way, for regular SEPA credit transfers to compensate for the instant transfer fees. Therefore, a proper supervision framework must be guaranteed. __________________ 38 Regulation (EU) 2021/1230 of the European Parliament and of the Council of 14 July 2021 on cross-border payments in the Union (OJ L 274, 30.7.2021, p. 20).
Amendment 94 #
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 c
Article 2 – paragraph 1 – point c
(1c) ‘payment account identifier’ means a unique identifier as defined in Article 4, point (33), of Directive (EU) 2015/2366 of the European Parliament and of the Council*1. SEPA countries national authorities that issue bank identifiers used in IBAN´s shall issue such payment account identifier both at national level and for other SEPA countries on a cross border basis;
Amendment 109 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 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 as long as they cannot be participants in a payment system designated in accordance with Directive 98/26/EC.
Amendment 120 #
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 online interfaces as the ones through which those payers can place a payment order for other credit transfers;
Amendment 133 #
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 d a (new)
Article 5a – paragraph 2 – point d a (new)
(d a) the payer’s PSP shall inform the payer as well as any intermediary involved within 10 seconds from the time of receipt and free of charge whether the amount transferred has been credited to the payee’s payment account or not.
Amendment 142 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
When a multiple payment orders package has been placed by the PSU, the payer’s PSP shall start to convert that package into individual transactions as soon as possible. The time of receipt of an individual payment order belonging to that package shall be the moment when the payer’s PSP sends the ensuing payment transaction to the payee’s PSP.
Amendment 145 #
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 a (new)
Article 5a – paragraph 3 a (new)
Amendment 149 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
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 = 612 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 = 12 months after the date of entry into force of this Regulation].
Amendment 159 #
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 2
Article 5a – paragraph 4 – subparagraph 2
PSPs as referred to in paragraph 1 located in a Member State whose currency is not the euro shall offer PSUs the service of receiving instant credit transfers in euro by …[ PO please insert the date = 3024 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 = 360 months after the date of entry into force of this Regulation].
Amendment 166 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5b – paragraph 1
Article 5b – paragraph 1
1a. This provision does not extend to value-added ancillary services, when they are provided by PSP´s with a clear independent pricing for their use by the PSU.
Amendment 167 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5b – paragraph 1
Article 5b – paragraph 1
1b. In 4 years after the entry in force of this legislation, EBA must conduct a study on the impact of this provision in the prices of both instant and regular payments; the Commission must consider the results of such study in possible future revisions of this legislation.
Amendment 171 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
PSPs located in a Member State whose currency is the euro shall comply with this Article by …[ PO please insert the date = 612 months after the date of entry into force of this Regulation].
Amendment 177 #
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 – subparagraph 2
Article 5b – paragraph 2 – subparagraph 2
PSPs located in a Member State whose currency is not the euro shall comply with this Article by …[ PO please insert the date = 3024 months after the date of entry into force of this Regulation].
Amendment 182 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Amendment 194 #
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 verify whether the payment account identifier and the name of the payee provided by the payer match. Where they do not match, that PSP shall notify the payer of any discrepancies detected and the degree of any such discrepancyprovide, free of charge, a service to verify the identity of the payee using the payment account identifier.
Amendment 198 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 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 payeelaces the payment order, and before the payer is offered the possibility to authorise the instant credit transfer. The outcome of that verification mechanism shall be notified to the payer before the payer authorises the transaction.
Amendment 208 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 3
Article 5c – paragraph 3
Amendment 215 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 4
Article 5c – paragraph 4
4. PSPs shall inform their PSUs that authorising a transaction despite a detected and notified discrepancy or opting out from receiving the service referred to in paragraph 1negative outcome of the verification service may lead to transferring the funds to a payment account not held by the payee indicated by the payer. PSPs shall provide that information at the same time as the notification of discrepancies referred to in paragraph 1 or when PSU opts out from receiving the service referred to in that paragraph.
Amendment 225 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 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 the PSU online interfaces used by the payer to place a payment order for an instant credit transfer.
Amendment 236 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 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 Regulation].
Amendment 245 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5c – paragraph 6 – subparagraph 2
Article 5c – paragraph 6 – subparagraph 2
PSPs located in a Member State whose currency is not the euro shall comply with this Article by …[ PO please insert the date = 3624 months after the date of entry into force of this Regulation].
Amendment 253 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5d – paragraph 1 – subparagraph 2
Article 5d – paragraph 1 – subparagraph 2
PSPs shall carry out such verifications immediately 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 day, or in the moment of relevant change on the PSUs details, on a risk-based approach.
Amendment 266 #
Proposal for a regulation
Article 1 – paragraph 1 – point 2
Article 1 – paragraph 1 – point 2
Regulation (EU) No 260/2012
Article 5d – paragraph 4
Article 5d – paragraph 4
4. PSPs shall comply with this Article by …[ PO please insert the date = 612 months after the date of entry into force of this Regulation].
Amendment 270 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 1
Article 11 – paragraph 1a – subparagraph 1
By way of derogation from paragraph 1, Member States shall by … [PO please insert the date = 46 months after the date of entry into force of this Regulation] lay down rules on the penalties applicable to infringements of Articles 5a to 5d and shall take all measures necessary to ensure that they are implemented. Such penalties shall be effective, proportionate and dissuasive.
Amendment 271 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 1a (new)
Article 11 – paragraph 1a – subparagraph 1a (new)
No penalty shall be applied in respect of Article 5a(2), point (c). where the payment accounts maintained by PSPs are not reachable for instant credit transfers due to a planned downtime of all SEPA Instant Credit Transfer (SCT Inst) or where, due to a duly motivated suspicion of fraud, PSPs suspend the instant credit service, and if PSPs offer alternative options to PSUs.
Amendment 273 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 260/2012
Article 11 – paragraph 1a – subparagraph 2
Article 11 – paragraph 1a – subparagraph 2
Member States shall notify the Commission of those rules and measures by … [ PO please insert the = 89 months after the date of entry into force] and shall notify it without delay of any subsequent amendment affecting them.