ECB supports e-payments regulation: ECB has confirmed its support for the proposed Directive on developing the European market for electronic payments. In particular it supports extending regulation to cover providers of payment initiation and account information services. (Source: ECB Supports E-Payments Regulation)
ECB consults on SSM framework regulation: ECB is consulting, until 7 March, on its draft Framework Regulation setting out rules and procedures for the good functioning of the Single Supervisory Mechanism (SSM). The framework includes:
- principles to govern the Joint Supervisory Teams that enable co-operation between ECB and national authorities in supervising significant credit institutions;
- specification of the criteria to determine when an institution meets the significance requirement for the purposes of being supervised directly by ECB. These criteria are size, level of cross-border activity, economic significance of the institution, and whether it has received public financial assistance; and
- other provisions on issues such as applications for authorisation and passporting, investigatory powers and sanctions, dues process, macro-prudential decisions and close co-operation with non-Eurozone States.
(Source: SSM Framework Regulation)
ECB names comprehensive assessment banks: ECB has published a Decision identifying the 128 credit institutions from SSM-participating Member States that are subject to the comprehensive assessment in parallel to EBA's stress tests. (Source: Decision Identifying the Credit Institutions Subject to the Comprehensive Assessment)
ECB delivers opinion on interchange fees Regulation: ECB has delivered its Opinion to EP and the Council on the Commission's proposal for a Regulation on interchange fees for card-based payment transactions. ECB is concerned by the provision stating that merchants should be obliged to accept other payment instruments of the same brand and/or category that are subject to the same regulated interchange fee. It thinks the decision on whether to accept cards should remain with the merchant. (Source: ECB opinion on Interchange Fees Regulation)