Chair outlines EBA's approach to developing RTS on strong customer authentication under PSD2
The EBA has published an introductory statement from the EBA Chair, delivered at a scrutiny hearing held by ECON. The purpose was to update on the work of the EBA under the revised Payment Services Directive, especially in relation to its mandate to produce RTS on strong customer authentication and secure communications. Current thinking on the following three main concerns was addressed:
- Monetary thresholds proposed in the draft RTS
- Communication interface and direct access
- Exemptions to SCA
EBA, 29 November 2016
Strategy to make UK payments fit for the digital age
The Payment Strategy Forum has revealed a new strategic plan for the UK payments industry intended to make sure it is fit for 21st century. This takes into account new regulations like PSD2 and the process of digitalisation, and includes moving the UK to a common message standard by the end of H2 2017 as part of an ambitious roadmap.
PSR, 29 November 2016
Consultation responses: EBA draft guidelines for credit institutions' credit risk management
The EBA has published an updated webpage on guidelines for credit institutions' credit risk management practices and accounting for expected credit losses, including consultation responses from the following organisations:
- Association for Financial Markets in Europe
- British Bankers' Association
- European Banking Federation
The consultation took place in July 2016.
EBA, 29 November 2016
Call for input on high-cost credit
The FCA has published a call for input on high-cost credit, reviewing the HCSTC price cap. Areas covered include:
- High-cost products
- HCSTC price cap review
- Repeat and multiple HCSTC borrowing
The call for input will close on 15 February 2017.
FCA, 29 November 2016
INVESTMENTS AND FUNDS
Compromise proposal on Regulation amending EuVECA Regulation and EuSEF Regulation
The Presidency of the Council of the EU has published a compromise proposal relating to the proposed Regulation amending EuVECA Regulation and the EuSEF Regulation.
Council of the EU, 29 November 2016
FSB discussion note on essential aspects of CCP resolution planning: responses
The Financial Stability Board has published responses received to its August 2016 discussion note on CCP resolution planning. A consultation on proposals for guidance on CCP resolution planning will take place by early 2017.
FSB, 29 November 2016
EC report on round 15 of TTIP negotiations
The European Commission has published an updated list of documents relating to the Transatlantic Trade and Investment Partnership. The report includes a section on trade in services, referring to financial services under TTIP.
European Commission, 28 November 2016