The EBA publishes Decision harmonising reporting of SEPA data by national authorities

The European Banking Authority (EBA) today published a Decision harmonising how National Competent Authorities (NCAs) report under the SEPA Regulation. The Decision complements the existing European Commission’s Implementing Regulation which requires all Payment Service Providers (PSPs) to report data on charges for credit transfers and payment accounts, as well as the shares of transactions rejected due to EU sanctions. The Decision streamlines the second step of this reporting process – from the NCAs to the EBA and the European Commission.

By introducing a single reporting channel through the EBA, the Decision reduces the administrative burden on NCAs and ensures that both the EBA and the European Commission receive consistent, high-quality data. This supports the Commission in monitoring that consumers benefit from access to instant credit transfers across the EU, and that these are not more expensive than standard credit transfers.

The Decision stipulates that the NCAs will now report this information only to the EBA, and the EBA will then make it available to the European Commission. The Decision also clarifies that when NCAs already possess some of the required data, they are responsible for ensuring its accuracy and completeness without re-collecting it from PSPs.

Furthermore, the Decision amends the Annex to the EBA’s EUCLID Decision to incorporate this new reporting requirement.

The Decision takes effect immediately.

Legal basis

Article 15(3) of the SEPA Regulation requires PSPs to report to their competent authorities every 12 months “(a) the level of charges for credit transfers, instant credit transfers and payment accounts; (b) the share of rejections separately for national and cross-border payment transactions, due to the application of the targeted financial restrictive measures.”

Article 15(4) of the SEPA Regulation requires that “competent authorities shall provide the Commission and EBA with the information reported to them by PSPs under paragraph 3, and the information on the volume and value of instant credit transfers in euro which have been sent, both national and cross-border, by PSPs established in their Member State in the course of the preceding calendar year.”

​Article 53 of the EBA Regulation establishes the tasks of the EBA Executive Director, including implementation of the annual work programme, and adoption of internal administrative instructions and the publication of notices.