Question ID
2019_4874
Legal act
Directive 2015/2366/EU (PSD2)
Topic
Authorisation and registration
Article
11
Paragraph
1
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Not applicable
Article/Paragraph
n/a
Name of institution / submitter
Bundesdruckerei GmbH
Country of incorporation / residence
Germany
Type of submitter
Other
Subject matter
Roles that can be assigned to electronic money institutions in certificates
Question

Please clarify which roles may be assigned to electronic money institutions (EU 2015/2366 Art 1(1) b) by qualified trust service providers (QTSPs) in the certificates. There seems to be some contradiction between EU 2015/2366 Art 11(1) and the EBA Opinion on the use of eIDAS certificates under the RTS on SCA and CSC (EBA-Op-2018-7) item 26.

Background on the question

According to EU 2015/2366 Art 1(1) b) these institutions are exempted from getting an authorisation from a National Competent Authority (NCA) which we interpret in a way that they be granted PSP_AI, PSP_PI and PSP_IC roles. According to the EBA Opinion on the use of eIDAS certificates under the RTS on SCA and CSC (EBA-Op-2018-7) item 26 only roles can be assigned for which the institution is authorized “Therefore, the roles that could be assigned to electronic money institutions that would like to obtain an eIDAS certificate should also be limited to the payment services for which the respective electronic money institution has been authorised.” We note that NCAs handle this in different ways.

Member State A: Its NCA's Payment Institutions Register currently includes 8 electronic money institutions all having authorized services “E-Geld Geschäft (§ 1 Abs. 2 Satz 2 ZAG)”. BaFin has published a note stating that e-Money institutions can act as PSP_AI, PSP_PI, PSP_IC automatically. 

Member State B: Its NCA has 13 electronic money institutions. Specific roles like “Acquiring of payment transactions” are assigned to them, none of them has any of the PSD2 roles.

Country C:  Its NCA has assigned individual roles to their electronic money institutions, some of them have PSD2 roles.

Submission date
Rejected publishing date
Rationale for rejection

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Status
Rejected question