EBA harmonises SEPA data reporting from national authorities
Last week the European Banking Authority (EBA) published a decision harmonising how National Competent Authorities (NCAs) report payment services data under the SEPA Regulation.
Under the new arrangements, NCAs will report data, such as covering charges for credit transfers and payment accounts, as well as the share of transactions rejected due to EU sanctions, directly to the EBA alone, which will then pass it on to the European Commission. The regulation replaces a more fragmented process and reduces the administrative burden on national authorities.
While small steps like these rarely attract much fanfare, it sounds like a useful structural improvement that enables better use of structured reporting data further down the line.
Read more here.
