{"change_dates":[],"dossier":{"amendments":[{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-9","justification":"\nIn order to ensure legal clarity and certainty and avoid discordant interpretations of what\n\n\n charges are.","location":[["Proposal for a regulation","Recital 5"]],"meta":{"created":"2020-01-20T00:09:42"},"new":["(5) Regulation (EC) No 2560/2001 covers","cross-border credit transfers and cross-","border electronic payment transactions. It","also covers cross-border cheques, but only","for transparency purposes. In conformity","with the objective of Directive 2007/64/EC","to make cross-border direct debits possible,","it is advisable to extend the scope of the","Regulation. As for payment instruments","which are mainly or exclusively paper-","based, such as cheques, it is still not","advisable to apply the principle of uniform","charges since, by their very nature, they","cannot be processed as efficiently as","payments that are processed","electronically. The principle of uniform","charges should apply to payments","initiated or terminated on paper or in","cash, if they are electronically processed","in the course of the payment execution","chain, excluding cheques as well as to all","charges linked not only directly but also","indirectly to a payment transaction,","excluding currency conversion charges.","Indirect charges are, for example, charges","for setting up a permanent payment order,","or fees for using a payment card, debit or","credit, which should be the same for","national and cross-border payment","transactions within the Community."],"old":["(5) Regulation (EC) No 2560/2001 covers","cross-border credit transfers and cross-","border electronic payment transactions. It","also covers cross-border cheques, but only","for transparency purposes. In conformity","with the objective of Directive 2007/64/EC","to make cross-border direct debits possible,","it is advisable to extend the scope of the","Regulation. As for payment instruments","which are mainly or exclusively paper-","based, such as cheques, it is still not","advisable to apply the principle of uniform","charges since, by their very nature, they","cannot be processed as efficiently as","electronic payments."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"9","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Andrea Losco","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-10","justification":"\n The proposed new revision of Regulation 2560/2001 does not contain any provisions relating\n to transparency; that subject is covered by Directive 2007/64/EC.","location":[[" Proposal for a regulation","Recital 5"]],"meps":[36393],"meta":{"created":"2020-01-20T00:09:43"},"new":["(5) Regulation (EC) No 2560/2001 covers","cross-border credit transfers and cross-","border electronic payment transactions. In","conformity with the objective of Directive","2007/64/EC to make cross-border direct","debits possible, it is advisable to extend the","scope of the Regulation. As for payment","instruments which are mainly or","exclusively paper-based, such as cheques,","it is still not advisable to apply the","principle of uniform charges since, by their","very nature, they cannot be processed as","efficiently as electronic payments."],"old":["(5) Regulation (EC) No 2560/2001 covers","cross-border credit transfers and cross-","border electronic payment transactions. It","also covers cross-border cheques, but only","for transparency purposes. In conformity","with the objective of Directive 2007/64/EC","to make cross-border direct debits possible,","it is advisable to extend the scope of the","Regulation. As for payment instruments","which are mainly or exclusively paper-","based, such as cheques, it is still not","advisable to apply the principle of uniform","charges since, by their very nature, they","cannot be processed as efficiently as","electronic payments."],"orig_lang":"it","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"10","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-11","justification":"\nTo prevent uncertainties and close the debate on the MIF.","location":[[" Proposal for a regulation","Recital 5 a (new)"]],"meta":{"created":"2020-01-20T00:09:43"},"new":["(5a) Member States should address the","uncertainty regarding the applicability of","a Multilateral Interchange Fee (MIF) and","for a defined period the level of the","default interim MIF may be set at 8.8 %."],"old":[""],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"11","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Andrea Losco","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-12","justification":"The criterion for including payments within the scope of the Regulation should be the element\nof electronic processing, even if the payment transactions are paper-based.","location":[["Proposal for a regulation","Recital 5 a (new)"]],"meps":[36393],"meta":{"created":"2020-01-20T00:09:43"},"new":["(5a) It is important that the Regulation","should apply to payments which are","electronically processed. This includes","payments initiated or terminated on paper","or in cash and money remittances, if they","are electronically processed in the course","of the payment execution chain."],"orig_lang":"it","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"12","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Andrea Losco","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-13","justification":"\n The proposed amendment elaborates on the provision contained in the Commission\u2019s text.","location":[["Proposal for a regulation","Recital 6"]],"meps":[36393],"meta":{"created":"2020-01-20T00:09:43"},"new":["(6) Since the fragmentation of payment","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment should be identified for each","category of cross-border payment","transaction. The following criteria may,","for example, be used to identify the","national payment corresponding to a","cross-border payment: initiation channel,","degree of automation, value and payment","guarantee. This set of criteria should not","be regarded as exhaustive."],"old":["(6) Since the fragmentation of payment","","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment, in particular as far as initiation","channel, speed and degree of automation","are concerned, should be identified for","each category of cross-border payment","transaction."],"orig_lang":"it","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"13","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-14","justification":"The criteria for the identification of a corresponding national payment should be clarified.","location":[[" Proposal for a regulation","Recital 6"]],"meta":{"created":"2020-01-20T00:09:43"},"new":["(6) Since the fragmentation of payment","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment should be identified for each","category of cross-border payment","transaction. The following criteria may,","for example, be used to identify the","national payment corresponding to a","cross-border payment: initiation channel,","degree of automation, value, payment","guarantee, customer status, and","relationship with the payment service","provider."],"old":["(6) Since the fragmentation of payment","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment, in particular as far as initiation","channel, speed and degree of automation","are concerned, should be identified for","each category of cross-border payment","transaction.","",""],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"14","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-15","justification":"The Regulation must specify in detail the criteria for identifying payments having the same or\nsimilar characteristics to cross-border payments to ensure that the interpretation of these\nprovisions does not vary from one Member State to another.","location":[["Proposal for a regulation","Recital 6"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:43"},"new":["(6) Since the fragmentation of payment","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment, in particular as far as initiation","channel, speed and degree of automation","are concerned, should be identified for","each category of cross-border payment","transaction. The following criteria may,","for example, be used to identify the","national payment corresponding to a","cross-border payment: currency, channel","used to initiate, execute and terminate the","payment, degree of automation, payment","guarantee, customer status and","relationship with the payment service","provider, form of consent and payment","instrument used, as defined in Article 4 of","Directive 2007/64/EC."],"old":["(6) Since the fragmentation of payment","markets should be prevented, it is","appropriate to apply the principle of","equality of charges. For that purpose, a","national payment having the same or very","similar characteristics to the cross-border","payment, in particular as far as initiation","channel, speed and degree of automation","are concerned, should be identified for","each category of cross-border payment","transaction."],"orig_lang":"fr","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"15","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-16","justification":" Competent authorities shall clarify when needed the notion of corresponding payment to\n avoid differences in interpretation.","location":[[" Proposal for a regulation","Recital 9"]],"meta":{"created":"2020-01-20T00:09:44"},"new":["(9) In order to ensure that redress is","possible in the cases of wrong application","of this Regulation, Member States should","establish adequate and effective procedures","for lodging complaints or appeals and for","settling any disputes between the payment","service user and his payment service","provider. It is also important that","competent authorities and out-of-court","redress bodies are appointed, where","applicable using existing procedures.","Competent authorities should issue","guidelines to identify corresponding","payments when they consider it necessary."],"old":["(9) In order to ensure that redress is","possible in the cases of wrong application","of this Regulation, Member States should","establish adequate and effective procedures","for lodging complaints or appeals and for","settling any disputes between the payment","service user and his payment service","provider. It is also important that","competent authorities and out-of-court","redress bodies are appointed, where","applicable using existing procedures."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"16","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-17","justification":"The payments covered by this Regulation must be identical to those covered by the Directive\non payment services.","location":[[" Proposal for a regulation","Article 1 \u2013 paragraph 2"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:44"},"new":["2. This Regulation shall apply to cross-","border payments up to the amount of EUR","50 000, in line with the provisions of","Directive 2007/64/EC, which are","denominated in euro or in the currencies of","the Member States referred to in Article","11."],"old":["2. This Regulation shall apply to cross-","border payments up to the amount of","EUR 50 000 which are denominated in","euro or in the currencies of the Member","States referred to in Article 11.",""],"orig_lang":"fr","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"17","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-18","justification":"Interbank services should not fall within the scope of this Regulation, which deals solely with\nthe payment service providers\u2019 policies as regards the charges they impose on their\ncustomers.","location":[["Proposal for a regulation","Article 1 \u2013 paragraph 3"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:44"},"new":["3. This Regulation shall not apply to","payments made by payment service","providers for their own account or on","behalf of other payment service providers."],"old":["3. This Regulation shall not apply to","payments made by payment service","providers for their own account."],"orig_lang":"fr","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"18","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-19","justification":" The current wording may lead to legal uncertainty about the conditions under which legal or\n natural persons can become payment service providers and about the nature \u2013cross border or\n national only- of the activities they may engage in.","location":[["Proposal for a regulation","Article 2 \u2013 point (5)"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:44"},"new":["(5) 'payment service provider' means any","of the categories referred to in Article 1(1)","of Directive 2007/64/EC and legal and","natural persons benefiting from the waiver","under Article 26 of that Directive;"],"old":["(5) 'payment service provider' means any","of the categories referred to in Article 1(1)","of Directive 2007/64/EC and legal and","natural persons referred to in Article 26 of","that Directive;"],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"19","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-20","justification":" In order to ensure legal clarity and certainty and avoid discordant interpretations of what\n charges are, we would propose to amend the definition of \u201ccharges\u201d in Article 2.9\n eliminating from the definition the word \u201cindirectly\u201d.","location":[[" Proposal for a regulation","Article 2 \u2013 point 9"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:44"},"new":["(9) 'charges' means any charge levied by a","payment service provider on the payment","service user and directly linked to a","payment transaction."],"old":["(9) 'charges' means any charge levied by a","payment service provider on the payment","service user and directly or indirectly","linked to a payment transaction."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"20","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-21","justification":"The rules on the equality of charges must be worded more precisely to avoid any possible\nconfusion.","location":[[" Proposal for a regulation","Article 3 \u2013 paragraph 1"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:44"},"new":["1. Charges levied by a payment service","provider on a payment service user in","respect of cross-border payments shall be","the same as the charges levied by that","payment service provider on that payment","service user for corresponding payments of","the same value in the same currency","within the Member State from which the","cross-border payment originates."],"old":["1. Charges levied by a payment service","provider in respect of cross-border","payments shall be the same as the charges","levied by the same payment service","provider for corresponding payments of the","same value within the Member State from","","","which the cross-border payment originates."],"orig_lang":"fr","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"21","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-22","justification":"Due to clarification reasons.","location":[["Proposal for a regulation","Article 3 \u2013 paragraph 2"]],"meta":{"created":"2020-01-20T00:09:44"},"new":["2. When assessing, for the purpose of","complying with paragraph 1, the level of","charges for a cross-border payment, a","payment service provider shall identify the","corresponding national payment."],"old":["2. When assessing, for the purpose of","complying with paragraph 1, the level of","charges for a cross-border payment, a","payment service provider shall identify the","corresponding domestic payment."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"22","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-23","justification":" It is useful to clarify guidelines how competent authorities shall identify corresponding\n payments.","location":[["Proposal for a regulation","Article 3 \u2013 paragraph 2 \u2013 subparagraph 1 a (new)"]],"meta":{"created":"2020-01-20T00:09:44"},"new":["Competent authorities shall issue","guidelines to identify corresponding","national payments, where they consider it","necessary. Competent authorities of","Member States shall actively cooperate to","ensure compatibility of guidelines for","corresponding payments."],"old":[""],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"23","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Andrea Losco","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-24","justification":" The issuing by the competent authorities of guidelines to identify corresponding national\n payments would help to avoid uncertainty in relation to the interpretation of this provision.","location":[[" Proposal for a regulation","Article 3 \u2013 paragraph 2 \u2013 subparagraph 1 a (new)"]],"meps":[36393],"meta":{"created":"2020-01-20T00:09:45"},"new":["la. If necessary, the competent authorities","may issue guidelines to identify","corresponding national payments."],"orig_lang":"it","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"24","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-25","justification":"This provision would allow the Regulation to be extended to EU Member State currencies\nother than the euro.","location":[[" Proposal for a regulation","Article 3 \u2013 paragraph 2 a (new)"]],"meta":{"created":"2020-01-20T00:09:45"},"new":["2a. In a Member State which, in","accordance with Article 11, has notified","the extension of this Regulation to the","currency of that Member State, a national","payment in the currency of that Member","States may be considered as","corresponding to a cross-border payment","which is denominated in euro."],"old":[""],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"25","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-26","justification":"This addition is necessary to ensure legal certainty and coherence with Directive 2007/64/EC.","location":[["Proposal for a regulation","Article 3 \u2013 paragraph 2 a (new)"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:45"},"new":["2a. For credit transfers and direct debits,","the provisions of Article 52(2) of the","Directive 2007/64/EC shall apply."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"26","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Jean-Paul Gauz\u00e8s","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-27","justification":" It is essential that the provisions of this Regulation relating to uniform charges should be\n clearly stated in the contract.","location":[["Proposal for a regulation","Article 3 \u2013 paragraph 2 b (new)"]],"meps":[28193],"meta":{"created":"2020-01-20T00:09:45"},"new":["2b. This Regulation shall apply to","electronic payments, including payments","initiated or terminated on paper or in","cash, if the transaction is electronically","processed.","This Regulation shall apply to all charges","linked to a framework contract and the","associated payment transactions. For","example, charges for setting up a","permanent payment order, or fees for","using a payment card, should be the same","for national and cross-border payment","transactions within the Union.","However, currency conversion charges","are not covered by this Regulation."],"old":[""],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"27","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-28","justification":" In order to ensure consistency with the Directive on Payment Services (PSD) the reference to\n IBAN and BIC in the Regulation on Cross-Boarder Payments shall be replaced by a reference\n\nto the unique identifiers.","location":[[" Proposal for a regulation","Article 4 \u2013 paragraph 1"]],"meta":{"created":"2020-01-20T00:09:45"},"new":["1. A payment service provider shall, where","applicable, communicate to the payment","service user the latter's unique identifier","and his bank unique identifier.","In addition, where applicable, a payment","service provider shall indicate on","statements of account of a payment service","user, or in an annex thereto, the latter's","unique identifier and his bank unique","identifier."],"old":["1. A payment service provider shall, where","applicable, communicate to the payment","service user the latter's International Bank","Account Number (IBAN) and his Bank","Identifier Code (BIC).","In addition, where applicable, a payment","service provider shall indicate on","statements of account of a payment service","user, or in an annex thereto, the latter's","IBAN and his BIC."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"28","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-29","justification":"In order to ensure consistency with the Directive on Payment Services (PSD) the reference to\nIBAN and BIC in the Regulation on Cross-Boarder Payments shall be replaced by a reference\nto the unique identifiers.","location":[["Proposal for a regulation","Article 4 \u2013 paragraph 2"]],"meta":{"created":"2020-01-20T00:09:45"},"new":["2. Where appropriate with regard to the","nature of the payment transaction","concerned, for transactions initiated by the","payer, the payer shall, upon request,","communicate to his payment service","provider the unique identifiers of the","payee and of the payment service provider","of the payee."],"old":["2. Where appropriate with regard to the","nature of the payment transaction","concerned, for transactions initiated by the","payer, the payer shall, upon request,","communicate to his payment service","provider the IBAN of the payee and the","BIC of the payment service provider of the","payee."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"29","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-30","justification":" In order to ensure consistency with the Directive on Payment Services (PSD) the reference to\n IBAN and BIC in the Regulation on Cross-Boarder Payments shall be replaced by a reference\n to the unique identifiers.","location":[["Proposal for a regulation","Article 4 \u2013 paragraph 3"]],"meta":{"created":"2020-01-20T00:09:45"},"new":["3. Where appropriate with regard to the","nature of the payment transaction","concerned, for transactions initiated by the","payee, the payee shall, upon request,","communicate to his payment service","provider the unique identifiers of the payer","and of the payment service provider of the","payer."],"old":["3. Where appropriate with regard to the","nature of the payment transaction","concerned, for transactions initiated by the","payee, the payee shall, upon request,","communicate to his payment service","provider the IBAN of the payer and the","BIC of the payment service provider of the","payer."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"30","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-31","justification":" In order to ensure consistency with the Directive on Payment Services (PSD) the reference to\n IBAN and BIC in the Regulation on Cross-Boarder Payments shall be replaced by a reference\n to the unique identifiers.","location":[[" Proposal for a regulation","Article 4 \u2013 paragraph 4"]],"meta":{"created":"2020-01-20T00:09:46"},"new":["4. Where appropriate with regard to the","nature of the payment transaction","concerned, for all invoicing of goods and","services in the Community, a supplier who","accepts payments covered by this","Regulation shall communicate his unique","identifiers and the unique identifiers of his","payment service provider to his customers."],"old":["4. Where appropriate with regard to the","nature of the payment transaction","concerned, for all invoicing of goods and","services in the Community, a supplier who","accepts payments covered by this","Regulation shall communicate his IBAN","and the BIC of his payment service","provider to his customers."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"31","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":" Elisa Ferreira","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-32","justification":"This proposal may have a significant negative impact on the quality and reliability of the\nstatistics that Central Banks are collecting on the balance of payments and thereby have a\nrelevant impact on other important areas as well.","location":[[" Proposal for a regulation","Article 5 \u2013 paragraph 2"]],"meps":[28308],"meta":{"created":"2020-01-20T00:09:46"},"new":["deleted"],"old":["2. With effect from 1 January 2012 at the","latest, Member States shall remove","","","settlement-based national reporting","obligations on payment service providers","for balance of payments statistics."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"32","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"},{"authors":"Margarita Starkevi\u010di\u016bt\u00f7","changes":{},"committee":["ECON"],"date":"2008-12-17T00:00:00","id":"PE418.041-33","justification":"It is not necessary to set such a long period for evaluation and presenting a report on the\napplication of the Regulation.","location":[["Proposal for a regulation","Article 12 \u2013 paragraph 2"]],"meta":{"created":"2020-01-20T00:09:46"},"new":["2. The Commission shall, by 31 December","2012, present to the European Parliament,","the Council, the European Economic and","Social Committee and the European","Central Bank a report on the application of","this Regulation accompanied by any","appropriate proposal."],"old":["2. The Commission shall, by","31 December 2015 at the latest, present to","the European Parliament, the Council, the","European Economic and Social Committee","and the European Central Bank a report on","the application of this Regulation","accompanied by any appropriate proposal."],"orig_lang":"en","peid":"PE418.041v01-00","reference":"2008/0194(COD)","seq":"33","src":"http://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//NONSGML+COMPARL+PE-418.041+01+DOC+PDF+V0//EN&language=EN"}],"changes":{"2014-11-10T00:40:42":[{"data":[{"body":"EC","commission":[{"Commissioner":"MCCREEVY Charlie","DG":{"title":"Internal Market and Services","url":"http://ec.europa.eu/dgs/internal_market/"}}],"date":"2008-10-13T00:00:00","docs":[{"celexid":"CELEX:52008PC0640:EN","text":["
PURPOSE: to replace Regulation (EC) No\n 2560/2001 on cross-border payments in euro in order to adapt it to market\n developments (emergence of the Single Euro Payments Area), to enhance the protection\n of consumer rights and to provide an adequate legal framework for the development\n of a modern and efficient payment system within the EU.
PROPOSED ACT: Regulation of the European Parliament and of the\n Council.
CONTENT: Regulation (EC) No 2560/2001 entered into force on 31\n December 2001. It currently applies to credit transfers, ATM cash withdrawals\n and electronic payments (including card payments) made in euro up to an\n amount of EUR 50 000. It guarantees that when a consumer makes a cross-border\n payment in euro, the cost is the same as that of a corresponding payment in\n euro made within his own Member State.
The report of the Commission to the European Parliament and to the\n Council on the application of Regulation (EC) No 2560/2001 on cross-border\n payments in euro, adopted on 11 February 2008, confirmed that the application\n of Regulation (EC) No 2560/2001 has effectively brought down the charges for cross-border payment transactions in euro to the level\n of national charges and encouraged the European payments industry to build an\n EU-wide payments infrastructure that is necessary in order to create the\n Single Euro Payments Area (SEPA).
The report concluded that a number of amendments to the Regulation\n should be proposed to address the following weaknesses identified during the\n review process in 2005:
- the need to extend the principle of equality of charges to\n direct debits in order to establish a level playing field between different\n payment instruments and avoid undermining the objectives of this Regulation\n by not making all electronic payment instruments operating cross-border\n subject to the principle of equality of charges;
- enforcement problems due to the absence of identified national\n competent authorities and of out-of-court redress bodies for disputes related\n to the Regulation;
- disruption of the internal market in payments caused by\n divergent balance-of-payments (BoP) statistical reporting obligations and\n unclear scope of the article on BoP reporting.
In concrete\n terms, the proposal amends the wording of all existing provisions of\n Regulation 2560/2001. In addition, it proposes to:
· \n extend the principle of equality of charges\n for cross-border and corresponding domestic payments to cover direct debits;
· \n phase out, by 1 January 2012, the\n balance-of-payments statistical reporting obligations imposed on payment\n service providers;
· \n request Member States to appoint competent\n authorities and out-of-court redress bodies to deal effectively with\n complaints and disputes regarding this proposal. It also provides for the\n co-operation between the competent authorities and out-of-court redress\n bodies in solving cross-border disputes;
· \n the possible application of the Regulation to currencies\n other than euro.
\nThe Committee on Economic and Monetary Affairs adopted\n the report drawn up by Margarita STARKEVICIUTE (ALDE, LT) amending, under the\n first reading of the codecision procedure, the proposal for a regulation of\n the European Parliament and of the Council on cross-border payments in the\n Community.
The main amendments are as follows:
Scope:\n the committee clarified that the payments covered by the Regulation must be\n identical to those covered by the Directive on payment services. Interbank\n services should not fall within the scope of this Regulation, which deals\n solely with the payment service providers’ policies as regards the charges\n they impose on their customers.
Definitions: the definition of 'cross-border payments' simplified and further\n aligned with the Payment Services Directive, so that the decisive factor is\n where a payment service provider is located. The definition of “charges” is\n amended and the committee inserted a definition for funds'
Guidelines to identify corresponding national payments: the competent authorities shall issue\n guidelines to identify corresponding national payments where they consider it\n necessary. They shall actively cooperate to ensure the compatibility of\n guidelines for corresponding national payments.
Criteria to identify national payment: a new recital notes that it should be\n possible to use the following criteria to identify the national payment\n corresponding to a cross-border payment: the currency used, the channel used\n to initiate, execute and terminate the payment, the degree of automation, the\n value of the transaction, any payment guarantee, the customer status, the\n relationship with the payment service provider, the form of consent or the\n payment instrument used, as defined in Directive 2007/64/EC. This set of\n criteria should not be regarded as exhaustive.
Extension to non-euro Member States: where a Member State, has notified the\n extension of the application of the Regulation to its currency, a national\n payment in the currency of that Member States may be considered as\n corresponding to a cross-border payment which is denominated in euro.
Uniform charges: the committee noted that it is essential that the\n provisions of this Regulation relating to uniform charges should be clearly\n stated in the contract. This Regulation applies to electronic payments,\n including payments initiated or terminated on paper or in cash, if the\n transaction is electronically processed. The Regulation applies to all\n charges linked to a framework contract and the associated payment\n transactions. Charges such as for setting up a permanent payment order or for\n using a payment card shall be the same for national and cross-border payment\n transactions within the Community.
The Regulation does not apply to currency conversion\n charges.
Consistency with Directive on Payment Services (PSD): the reference to IBAN and BIC in the\n Regulation on Cross-Boarder Payments are replaced by a reference to the\n unique identifiers. Also, in order to align the Regulation with the Payment\n Services Directive, it should be clarified that the provision of this\n information to the payment service user is free of cost.
Time frame:\n with effect from 1 January 2015 (rather than 1 January 2012),\n Member States shall remove settlement-based national reporting obligations on\n payment service providers for balance of payments statistics
Compliance:\n Member States shall require the competent authorities to monitor compliance\n with this Regulation effectively and to take all necessary measures to ensure\n such compliance. Member States may appoint existing institutions to act as\n competent authorities. Member States may utilise or extend existing\n procedures for this purpose.
Report:\n the Commission must report by 31 December 2012 rather than\n 31 December 2015.
Lastly, Members note in a new recital that Member States\n should address the uncertainty regarding the applicability of a Multilateral\n Interchange Fee (MIF). In the absence of a bilateral agreement between the\n payment service providers of the payee and the payer, the level of the\n default interim MIF for a direct debit should be set at EUR 0,088 for a\n transitional period until 31 October 2012. At the end of that transitional\n period, it should be possible for MIFs to be maintained provided that they\n respect Commission guidelines. Those Commission guidelines should be adopted\n by 31 March 2010 and should be based on the observation of costs of and\n charges for the services rendered between the payment services providers.
\nThe European\n Parliament adopted by 396 votes to 2 with 8 abstentions a\n legislative resolution amending, under the first reading of the codecision\n procedure, the proposal for a regulation of the European Parliament and of\n the Council on cross-border payments in the Community.
The amendments\n are the result of a compromise agreement between Parliament and Council.
The main\n amendments are as follows:
Scope: the text states that the Regulation applies to cross-border\n payments, in accordance with the provisions of Directive 2007/64/EC, which\n are denominated in euro or in the national currencies of the Member States\n which have notified their intention to extend the application of the\n Regulation to their national currency,
Furthermore,\n interbank services will not fall within the scope of this Regulation, which\n deals solely with the payment service providers’ policies as regards the\n charges they impose on their customers. The Regulation does not apply to\n currency conversion charges.
Definitions: the definition of 'cross-border payments' simplified and further\n aligned with the Payment Services Directive, so that the decisive factor is\n where a payment service provider is located. The definition of “charges” is\n amended and the committee inserted a definition for funds'
Charges for\n cross-border payments and corresponding national payments: charges levied by a payment service provider on a payment\n service user in respect of cross-border payments up to EUR 50 000\n shall be the same as the charges levied by that payment service provider on\n payment service users for corresponding national payments of the same value\n and in the same currency .
The competent\n authorities shall issue guidelines to identify corresponding national\n payments where they consider it necessary. They shall actively cooperate\n within the Payments Committee to ensure the compatibility of guidelines for\n corresponding national payments. Where a Member State has notified the\n extension of the application of this Regulation to its national currency in\n accordance with the text (see below), a national payment that is denominated\n in the currency of that Member State may be considered as corresponding to a\n cross-border payment that is denominated in euro.
Measures\n for facilitating the automation of payments: with\n regard to the provision of details on IBAN and BIC, the text states that a\n payment service provider shall not charge the payment service user for\n providing the information required.
The payment\n service provider may levy charges additional charges on the payment service\n user where that user instructs the payment service provider to execute the\n payment transaction without communicating the IBAN and BIC. Those charges\n shall be appropriate and in line with costs, and must be agreed between the\n payment service provider and the payment service user. The payment service\n provider shall inform the payment service user of the amount of the additional\n charges in good time before the payment service user is bound by such an\n agreement.
Interchange\n fee for cross-border direct debit transactions :\n a new clause states that in the absence of any bilateral agreement between\n the payment service providers of the payee and of the payer, a multilateral\n interchange fee of EUR 0,088, payable by the payment service provider of the\n payee to the payment service provider of the payer, shall apply for each\n cross-border direct debit transaction executed before 1 November 2012 unless\n a lower multilateral interchange fee has been agreed upon between the payment\n service providers concerned.
Reachability\n for direct debit transactions: these provisions\n apply only to direct debit transactions which are available to consumers under\n the direct debit scheme. Payment service providers shall comply with the\n requirements by 1 November 2010. However, payment service providers located\n in a Member State which does not have the euro as its national currency shall\n comply with the requirements for direct debit transactions denominated in\n euro by 1 November 2014. If, however, the euro is introduced as the national\n currency of any such Member State before 1 November 2013, the payment service\n provider located in that Member State shall comply with the requirements\n within one year of the date on which the Member State concerned joined the\n euro area.
Out-of-court\n redress procedures: Member States may provide\n that this Article applies only to payment service users which are\n consumers or micro-enterprises.
Application\n to national currencies other than the euro: with\n the exception of the articles on direct debit transactions, a Member State that does not have the euro as its national currency and that decides to\n extend the application of this Regulation to its national currency shall\n notify the Commission accordingly. A Member State that does not have the euro\n as its national currency and that decides to extend the application of any or\n any combination of the articles on direct debit transactions o its national\n currency shall notify the Commission.
Review: by 31 October 2011, the Commission shall present a report on\n the appropriateness of removing settlement-based national reporting\n obligations, accompanied, where appropriate, by a proposal.
\nPURPOSE: to\n ensure the proper functioning of the internal market for payments in euros,\n with no distinction between cross-border and national payments.
LEGISLATIVE\n ACT: Regulation (EC) No 924/2009 of the European Parliament and of the\n Council on cross-border payments in the Community and repealing Regulation\n (EC) No 2560/2001.
CONTENT: the Council\n adopted this Regulation having reached agreement with the European Parliament\n at first reading. The Regulation updates and replaces Regulation (EC) No\n 2560/2001 on cross-border payments, which applies to credit transfers, cash\n withdrawals and electronic payments, including card payments, made in euros\n up to a maximum value of EUR 50 000. Regulation (EC) No 2560/2001 has\n succeeded in bringing down the charges for cross-border payments to the level\n of national charges, and has encouraged the payments industry to build an\n EU-wide payments infrastructure for the \"single euro payments area\"\n (SEPA) (see COM\n (2009)0471). The new Regulation extends the principle of the equality of\n charges to direct debits and addresses a number of enforcement problems that\n were identified in a report from the Commission on the application of\n Regulation 2560/2001/EC. It also aligns the definitions and wording of the\n text with those of Directive 2007/64/EC on payment\n services.
Its main\n provisions are as follows:
Subject\n matter and scope: the Regulation lays down rules\n on cross-border payments within the Community, ensuring that charges for\n cross-border payments within the Community are the same as those for payments\n in the same currency within a Member State. It applies to cross-border\n payments, in accordance with the provisions of Directive 2007/64/EC, which\n are denominated in euro or in the national currencies of the Member States\n which have notified their decision to extend the application of this\n Regulation to their national currency. It does not apply to payments made by\n payment service providers for their own account or on behalf of other payment\n service providers. It does not apply to currency conversion charges.
Charges for\n cross-border payments and corresponding national payments:charges levied by a payment service provider on a payment\n service user in respect of cross-border payments of up to EUR 50 000 shall be\n the same as the charges levied by that payment service provider on payment\n service users for corresponding national payments of the same value and in\n the same currency.
Measures\n for facilitating the automation of payments:a payment service provider shall, where applicable, communicate to\n the payment service user the payment service user’s international bank\n account number (IBAN) and the payment service provider’s bank identifier code\n (BIC). In addition, where applicable, a payment service provider shall\n indicate the payment service user’s IBAN and the payment service provider’s\n BIC on statements of account, or in an annex thereto. A payment service\n provider shall provide the information to the payment service user free of\n charge.
Interchange\n fee for cross-border direct debit transactions:\n in the absence of any bilateral agreement between the payment service\n providers of the payee and of the payer, a multilateral interchange fee of\n EUR 0,088, payable by the payment service provider of the payee to the\n payment service provider of the payer, shall apply for each cross-border\n direct debit transaction executed before 1 November 2012, unless a lower\n multilateral interchange fee has been agreed upon between the payment service\n providers concerned.
Interchange\n fee for national direct debit transactions: where\n a multilateral interchange fee or other agreed remuneration for a national\n direct debit transaction executed before 1 November 2009 applies between the\n payment service providers of the payee and of the payer, such a multilateral\n interchange fee or other agreed remuneration shall apply for any national\n direct debit transaction executed before 1 November 2012. Where such a\n multilateral interchange fee or other agreed remuneration is reduced or\n abolished before 1 November 2012, such reduction or abolition shall apply to\n any national direct debit transactions executed before that date.
Reachability\n for direct debit transactions: a payment service\n provider of a payer reachable for a national direct debit transaction\n denominated in euro on the payment account of that payer shall be reachable,\n in accordance with the direct debit scheme, for direct debit transactions\n denominated in euro initiated by a payee through a payment service provider\n located in any Member State. This provision shall apply only to direct debit\n transactions which are available to consumers under the direct debit scheme. Payment\n service providers shall comply with these requirements by 1 November 2010.
Payment\n service providers located in a Member State which does not have the euro as\n its currency shall comply with the above-mentioned requirements for direct\n debit transactions denominated in euro by 1 November 2014. If, however, the\n euro is introduced as the currency of any such Member State before 1 November\n 2013, the payment service provider located in that Member State shall comply with the requirements within 1 year of the date on which the Member State concerned joined the euro area.
Complaint\n and out-of-court redress procedures: Member\n States shall establish adequate and effective claims and out-of-court redress\n procedures which allow payment service users and other interested parties to\n submit complaints with regard to alleged infringements by payment service\n providers. For those purposes, Member States shall designate existing bodies,\n where appropriate, or establish new bodies. Member States may provide that\n these provisions apply only to payment service users which are consumers or\n micro-enterprises. In this event, Member States shall inform the Commission\n accordingly.
Application\n to currencies other than the euro: a notification\n procedure is foreseen in the event that a Member State that does not have the\n euro as its currency decides to extend the application of this Regulation to\n its national currency.
Penalties: Member States shall, by 1 June 2010, lay down rules on the\n penalties applicable to infringements to this Regulation and shall take all\n measures necessary to ensure that they are implemented. Such penalties shall\n be effective, proportionate and dissuasive.
Review: the Commission must present by 31 October 2011, a report on the appropriateness of removing settlement-based national reporting obligations. If\n appropriate, this report will be accompanied by a proposal.
By 31 October\n 2012 at the latest, the Commission shall present a report on the application\n of the Regulation which must cover, in particular a) the use of the IBAN and\n the BIC in relation to the automation of payments; b) the appropriateness of\n the EUR 50 000 ceiling; and c) market developments in relation to the\n application of certain provisions on direct debit transactions.
It should be\n noted that the Council also adopted:
- \n a Regulation establishing a legal framework\n for credit\n rating agencies and a directive updating banks’\n capital requirements which constitute an important part of the work\n programme which it undertook last autumn to deal with the financial crisis;
- \n a Directive on electronic\n money, on the basis of evaluations of the application of existing rules,\n as well as a decision\n to establish a Community programme to support specific activities in the\n field of financial services, financial reporting and auditing.
ENTRY INTO\n FORCE: 29/10/2009.
APPLICATION: from 01/11/2009.
\nPURPOSE: to replace Regulation (EC) No\n 2560/2001 on cross-border payments in euro in order to adapt it to market\n developments (emergence of the Single Euro Payments Area), to enhance the protection\n of consumer rights and to provide an adequate legal framework for the development\n of a modern and efficient payment system within the EU.
PROPOSED ACT: Regulation of the European Parliament and of the\n Council.
CONTENT: Regulation (EC) No 2560/2001 entered into force on 31\n December 2001. It currently applies to credit transfers, ATM cash withdrawals\n and electronic payments (including card payments) made in euro up to an\n amount of EUR 50 000. It guarantees that when a consumer makes a cross-border\n payment in euro, the cost is the same as that of a corresponding payment in\n euro made within his own Member State.
The report of the Commission to the European Parliament and to the\n Council on the application of Regulation (EC) No 2560/2001 on cross-border\n payments in euro, adopted on 11 February 2008, confirmed that the application\n of Regulation (EC) No 2560/2001 has effectively brought down the charges for cross-border payment transactions in euro to the level\n of national charges and encouraged the European payments industry to build an\n EU-wide payments infrastructure that is necessary in order to create the\n Single Euro Payments Area (SEPA).
The report concluded that a number of amendments to the Regulation\n should be proposed to address the following weaknesses identified during the\n review process in 2005:
- the need to extend the principle of equality of charges to\n direct debits in order to establish a level playing field between different\n payment instruments and avoid undermining the objectives of this Regulation\n by not making all electronic payment instruments operating cross-border\n subject to the principle of equality of charges;
- enforcement problems due to the absence of identified national\n competent authorities and of out-of-court redress bodies for disputes related\n to the Regulation;
- disruption of the internal market in payments caused by\n divergent balance-of-payments (BoP) statistical reporting obligations and\n unclear scope of the article on BoP reporting.
In concrete\n terms, the proposal amends the wording of all existing provisions of\n Regulation 2560/2001. In addition, it proposes to:
· \n extend the principle of equality of charges\n for cross-border and corresponding domestic payments to cover direct debits;
· \n phase out, by 1 January 2012, the\n balance-of-payments statistical reporting obligations imposed on payment\n service providers;
· \n request Member States to appoint competent\n authorities and out-of-court redress bodies to deal effectively with\n complaints and disputes regarding this proposal. It also provides for the\n co-operation between the competent authorities and out-of-court redress\n bodies in solving cross-border disputes;
· \n the possible application of the Regulation to currencies\n other than euro.
\nThe Committee on Economic and Monetary Affairs adopted\n the report drawn up by Margarita STARKEVICIUTE (ALDE, LT) amending, under the\n first reading of the codecision procedure, the proposal for a regulation of\n the European Parliament and of the Council on cross-border payments in the\n Community.
The main amendments are as follows:
Scope:\n the committee clarified that the payments covered by the Regulation must be\n identical to those covered by the Directive on payment services. Interbank\n services should not fall within the scope of this Regulation, which deals\n solely with the payment service providers’ policies as regards the charges\n they impose on their customers.
Definitions: the definition of 'cross-border payments' simplified and further\n aligned with the Payment Services Directive, so that the decisive factor is\n where a payment service provider is located. The definition of “charges” is\n amended and the committee inserted a definition for funds'
Guidelines to identify corresponding national payments: the competent authorities shall issue\n guidelines to identify corresponding national payments where they consider it\n necessary. They shall actively cooperate to ensure the compatibility of\n guidelines for corresponding national payments.
Criteria to identify national payment: a new recital notes that it should be\n possible to use the following criteria to identify the national payment\n corresponding to a cross-border payment: the currency used, the channel used\n to initiate, execute and terminate the payment, the degree of automation, the\n value of the transaction, any payment guarantee, the customer status, the\n relationship with the payment service provider, the form of consent or the\n payment instrument used, as defined in Directive 2007/64/EC. This set of\n criteria should not be regarded as exhaustive.
Extension to non-euro Member States: where a Member State, has notified the\n extension of the application of the Regulation to its currency, a national\n payment in the currency of that Member States may be considered as\n corresponding to a cross-border payment which is denominated in euro.
Uniform charges: the committee noted that it is essential that the\n provisions of this Regulation relating to uniform charges should be clearly\n stated in the contract. This Regulation applies to electronic payments,\n including payments initiated or terminated on paper or in cash, if the\n transaction is electronically processed. The Regulation applies to all\n charges linked to a framework contract and the associated payment\n transactions. Charges such as for setting up a permanent payment order or for\n using a payment card shall be the same for national and cross-border payment\n transactions within the Community.
The Regulation does not apply to currency conversion\n charges.
Consistency with Directive on Payment Services (PSD): the reference to IBAN and BIC in the\n Regulation on Cross-Boarder Payments are replaced by a reference to the\n unique identifiers. Also, in order to align the Regulation with the Payment\n Services Directive, it should be clarified that the provision of this\n information to the payment service user is free of cost.
Time frame:\n with effect from 1 January 2015 (rather than 1 January 2012),\n Member States shall remove settlement-based national reporting obligations on\n payment service providers for balance of payments statistics
Compliance:\n Member States shall require the competent authorities to monitor compliance\n with this Regulation effectively and to take all necessary measures to ensure\n such compliance. Member States may appoint existing institutions to act as\n competent authorities. Member States may utilise or extend existing\n procedures for this purpose.
Report:\n the Commission must report by 31 December 2012 rather than\n 31 December 2015.
Lastly, Members note in a new recital that Member States\n should address the uncertainty regarding the applicability of a Multilateral\n Interchange Fee (MIF). In the absence of a bilateral agreement between the\n payment service providers of the payee and the payer, the level of the\n default interim MIF for a direct debit should be set at EUR 0,088 for a\n transitional period until 31 October 2012. At the end of that transitional\n period, it should be possible for MIFs to be maintained provided that they\n respect Commission guidelines. Those Commission guidelines should be adopted\n by 31 March 2010 and should be based on the observation of costs of and\n charges for the services rendered between the payment services providers.
\nThe European\n Parliament adopted by 396 votes to 2 with 8 abstentions a\n legislative resolution amending, under the first reading of the codecision\n procedure, the proposal for a regulation of the European Parliament and of\n the Council on cross-border payments in the Community.
The amendments\n are the result of a compromise agreement between Parliament and Council.
The main\n amendments are as follows:
Scope: the text states that the Regulation applies to cross-border\n payments, in accordance with the provisions of Directive 2007/64/EC, which\n are denominated in euro or in the national currencies of the Member States\n which have notified their intention to extend the application of the\n Regulation to their national currency,
Furthermore,\n interbank services will not fall within the scope of this Regulation, which\n deals solely with the payment service providers’ policies as regards the\n charges they impose on their customers. The Regulation does not apply to\n currency conversion charges.
Definitions: the definition of 'cross-border payments' simplified and further\n aligned with the Payment Services Directive, so that the decisive factor is\n where a payment service provider is located. The definition of “charges” is\n amended and the committee inserted a definition for funds'
Charges for\n cross-border payments and corresponding national payments: charges levied by a payment service provider on a payment\n service user in respect of cross-border payments up to EUR 50 000\n shall be the same as the charges levied by that payment service provider on\n payment service users for corresponding national payments of the same value\n and in the same currency .
The competent\n authorities shall issue guidelines to identify corresponding national\n payments where they consider it necessary. They shall actively cooperate\n within the Payments Committee to ensure the compatibility of guidelines for\n corresponding national payments. Where a Member State has notified the\n extension of the application of this Regulation to its national currency in\n accordance with the text (see below), a national payment that is denominated\n in the currency of that Member State may be considered as corresponding to a\n cross-border payment that is denominated in euro.
Measures\n for facilitating the automation of payments: with\n regard to the provision of details on IBAN and BIC, the text states that a\n payment service provider shall not charge the payment service user for\n providing the information required.
The payment\n service provider may levy charges additional charges on the payment service\n user where that user instructs the payment service provider to execute the\n payment transaction without communicating the IBAN and BIC. Those charges\n shall be appropriate and in line with costs, and must be agreed between the\n payment service provider and the payment service user. The payment service\n provider shall inform the payment service user of the amount of the additional\n charges in good time before the payment service user is bound by such an\n agreement.
Interchange\n fee for cross-border direct debit transactions :\n a new clause states that in the absence of any bilateral agreement between\n the payment service providers of the payee and of the payer, a multilateral\n interchange fee of EUR 0,088, payable by the payment service provider of the\n payee to the payment service provider of the payer, shall apply for each\n cross-border direct debit transaction executed before 1 November 2012 unless\n a lower multilateral interchange fee has been agreed upon between the payment\n service providers concerned.
Reachability\n for direct debit transactions: these provisions\n apply only to direct debit transactions which are available to consumers under\n the direct debit scheme. Payment service providers shall comply with the\n requirements by 1 November 2010. However, payment service providers located\n in a Member State which does not have the euro as its national currency shall\n comply with the requirements for direct debit transactions denominated in\n euro by 1 November 2014. If, however, the euro is introduced as the national\n currency of any such Member State before 1 November 2013, the payment service\n provider located in that Member State shall comply with the requirements\n within one year of the date on which the Member State concerned joined the\n euro area.
Out-of-court\n redress procedures: Member States may provide\n that this Article applies only to payment service users which are\n consumers or micro-enterprises.
Application\n to national currencies other than the euro: with\n the exception of the articles on direct debit transactions, a Member State that does not have the euro as its national currency and that decides to\n extend the application of this Regulation to its national currency shall\n notify the Commission accordingly. A Member State that does not have the euro\n as its national currency and that decides to extend the application of any or\n any combination of the articles on direct debit transactions o its national\n currency shall notify the Commission.
Review: by 31 October 2011, the Commission shall present a report on\n the appropriateness of removing settlement-based national reporting\n obligations, accompanied, where appropriate, by a proposal.
\nPURPOSE: to\n ensure the proper functioning of the internal market for payments in euros,\n with no distinction between cross-border and national payments.
LEGISLATIVE\n ACT: Regulation (EC) No 924/2009 of the European Parliament and of the\n Council on cross-border payments in the Community and repealing Regulation\n (EC) No 2560/2001.
CONTENT: the Council\n adopted this Regulation having reached agreement with the European Parliament\n at first reading. The Regulation updates and replaces Regulation (EC) No\n 2560/2001 on cross-border payments, which applies to credit transfers, cash\n withdrawals and electronic payments, including card payments, made in euros\n up to a maximum value of EUR 50 000. Regulation (EC) No 2560/2001 has\n succeeded in bringing down the charges for cross-border payments to the level\n of national charges, and has encouraged the payments industry to build an\n EU-wide payments infrastructure for the \"single euro payments area\"\n (SEPA) (see COM\n (2009)0471). The new Regulation extends the principle of the equality of\n charges to direct debits and addresses a number of enforcement problems that\n were identified in a report from the Commission on the application of\n Regulation 2560/2001/EC. It also aligns the definitions and wording of the\n text with those of Directive 2007/64/EC on payment\n services.
Its main\n provisions are as follows:
Subject\n matter and scope: the Regulation lays down rules\n on cross-border payments within the Community, ensuring that charges for\n cross-border payments within the Community are the same as those for payments\n in the same currency within a Member State. It applies to cross-border\n payments, in accordance with the provisions of Directive 2007/64/EC, which\n are denominated in euro or in the national currencies of the Member States\n which have notified their decision to extend the application of this\n Regulation to their national currency. It does not apply to payments made by\n payment service providers for their own account or on behalf of other payment\n service providers. It does not apply to currency conversion charges.
Charges for\n cross-border payments and corresponding national payments:charges levied by a payment service provider on a payment\n service user in respect of cross-border payments of up to EUR 50 000 shall be\n the same as the charges levied by that payment service provider on payment\n service users for corresponding national payments of the same value and in\n the same currency.
Measures\n for facilitating the automation of payments:a payment service provider shall, where applicable, communicate to\n the payment service user the payment service user’s international bank\n account number (IBAN) and the payment service provider’s bank identifier code\n (BIC). In addition, where applicable, a payment service provider shall\n indicate the payment service user’s IBAN and the payment service provider’s\n BIC on statements of account, or in an annex thereto. A payment service\n provider shall provide the information to the payment service user free of\n charge.
Interchange\n fee for cross-border direct debit transactions:\n in the absence of any bilateral agreement between the payment service\n providers of the payee and of the payer, a multilateral interchange fee of\n EUR 0,088, payable by the payment service provider of the payee to the\n payment service provider of the payer, shall apply for each cross-border\n direct debit transaction executed before 1 November 2012, unless a lower\n multilateral interchange fee has been agreed upon between the payment service\n providers concerned.
Interchange\n fee for national direct debit transactions: where\n a multilateral interchange fee or other agreed remuneration for a national\n direct debit transaction executed before 1 November 2009 applies between the\n payment service providers of the payee and of the payer, such a multilateral\n interchange fee or other agreed remuneration shall apply for any national\n direct debit transaction executed before 1 November 2012. Where such a\n multilateral interchange fee or other agreed remuneration is reduced or\n abolished before 1 November 2012, such reduction or abolition shall apply to\n any national direct debit transactions executed before that date.
Reachability\n for direct debit transactions: a payment service\n provider of a payer reachable for a national direct debit transaction\n denominated in euro on the payment account of that payer shall be reachable,\n in accordance with the direct debit scheme, for direct debit transactions\n denominated in euro initiated by a payee through a payment service provider\n located in any Member State. This provision shall apply only to direct debit\n transactions which are available to consumers under the direct debit scheme. Payment\n service providers shall comply with these requirements by 1 November 2010.
Payment\n service providers located in a Member State which does not have the euro as\n its currency shall comply with the above-mentioned requirements for direct\n debit transactions denominated in euro by 1 November 2014. If, however, the\n euro is introduced as the currency of any such Member State before 1 November\n 2013, the payment service provider located in that Member State shall comply with the requirements within 1 year of the date on which the Member State concerned joined the euro area.
Complaint\n and out-of-court redress procedures: Member\n States shall establish adequate and effective claims and out-of-court redress\n procedures which allow payment service users and other interested parties to\n submit complaints with regard to alleged infringements by payment service\n providers. For those purposes, Member States shall designate existing bodies,\n where appropriate, or establish new bodies. Member States may provide that\n these provisions apply only to payment service users which are consumers or\n micro-enterprises. In this event, Member States shall inform the Commission\n accordingly.
Application\n to currencies other than the euro: a notification\n procedure is foreseen in the event that a Member State that does not have the\n euro as its currency decides to extend the application of this Regulation to\n its national currency.
Penalties: Member States shall, by 1 June 2010, lay down rules on the\n penalties applicable to infringements to this Regulation and shall take all\n measures necessary to ensure that they are implemented. Such penalties shall\n be effective, proportionate and dissuasive.
Review: the Commission must present by 31 October 2011, a report on the appropriateness of removing settlement-based national reporting obligations. If\n appropriate, this report will be accompanied by a proposal.
By 31 October\n 2012 at the latest, the Commission shall present a report on the application\n of the Regulation which must cover, in particular a) the use of the IBAN and\n the BIC in relation to the automation of payments; b) the appropriateness of\n the EUR 50 000 ceiling; and c) market developments in relation to the\n application of certain provisions on direct debit transactions.
It should be\n noted that the Council also adopted:
- \n a Regulation establishing a legal framework\n for credit\n rating agencies and a directive updating banks’\n capital requirements which constitute an important part of the work\n programme which it undertook last autumn to deal with the financial crisis;
- \n a Directive on electronic\n money, on the basis of evaluations of the application of existing rules,\n as well as a decision\n to establish a Community programme to support specific activities in the\n field of financial services, financial reporting and auditing.
ENTRY INTO\n FORCE: 29/10/2009.
APPLICATION: from 01/11/2009.
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