The European Parliament has published the date (10 March 2015) of the next debate in plenary in respect of the Regulation on interchange fees for card-based payment transactions (MIF Regulation). The high point of the European Parliament's political activity, plenary sittings represent the culmination of the legislative work done in committee and in the political groups.

With regard to PSD2, the Council of the European Union’s working party on financial services met on 18 February 2015 to examine the Commission’s proposal for PSD2, in view of the next round of political trilogue discussions.

What this means for you

In Payment Matters No. 14, we highlighted that EU legislators had finally reached an agreement on key terms for the MIF Regulation. The Regulation still needs to be formally approved by the European Parliament and Council, which is considered to be a formality and is expected to happen this spring 2015. The EU Council is now conducting negotiations in respect of PSD2 with the European Parliament, with a view to reaching an agreement at first reading. The working party meeting is part of that process. We will continue to keep track on the latest updates.